Servotech Power Systems LTD has received a significant order from Uttar Pradesh for the installation of solar energy storage and grid-connected systems, leading to a remarkable surge in the company’s stock. The stock hit an upper circuit of 132.34 rupees, an 8.63 percent increase from its opening price. This order is expected to significantly boost the company’s revenue and net profit.
Highlights:
- Servotech Power Systems LTD received an order worth 10.20 crores rupees from Uttar Pradesh
- The stock surged by 8.63%, reaching an upper circuit of 132.34 rupees
- 41% annual growth in the company’s revenue
- Order for the installation of 1.2 megawatts of solar energy systems
- Helps Uttar Pradesh achieve its renewable energy targets
| Point | Description |
|---|---|
| Order Value | 10.20 crores rupees |
| Stock Upper Circuit | 132.34 rupees |
| Annual Revenue Growth | 41% |
| Installed Capacity | 1.2 megawatts |
| Installation Areas | Uttar Pradesh Rural Development Department, Uttar Pradesh New & Renewable Energy Development Agency |
| Quarterly Revenue | 112.19 crores rupees |
Table of Contents
Major Order for Servotech Power Systems in EV Charging
Servotech Power Systems LTD has received a substantial order from Uttar Pradesh for EV charging, leading to a significant surge in the company’s shares. On Wednesday, the stock opened at 121.83 rupees and hit an upper circuit of 132.34 rupees. This rise continued into Thursday, with the stock opening at 140.28 rupees and currently trading at 135 rupees.
About Servotech Power Systems LTD
Servotech Power Systems LTD operates in the solar energy sector, manufacturing, procuring, and distributing advanced solar products and medical devices. The company offers the Spark and Squad series of EV chargers. The company’s market cap stands at 3,055.35 crores rupees, with a 52-week high of 141.82 rupees.
Significant Order for the Company
Servotech Power Systems LTD recently announced the receipt of a substantial order. The company received an order worth 10.20 crores rupees from the Uttar Pradesh Rural Development Department and the Uttar Pradesh New & Renewable Energy Development Agency. This order involves the installation of 1.2 megawatts of solar energy storage systems.
- The company will install numerous 75-kilowatt solar-based storage systems.
- Additionally, it will design, manufacture, install, test, and commission 20-kilowatt and 40-kilowatt grid-connected solar energy systems.
- This project will aid Uttar Pradesh in achieving its renewable energy goals.
Performance in the June Quarter
Servotech Power Systems LTD showed impressive performance in the June quarter. The company’s revenue increased to 112.19 crores rupees, up from 79.57 crores rupees in the first quarter of the previous financial year. This reflects a 41% annual growth in revenue.
Increase in Net Profit
The company’s net profit also saw an increase. In the first quarter, the net profit rose to 4.48 crores rupees from 4.10 crores rupees in the same quarter of the previous financial year, marking a 9.04% annual growth.
FAQs:
What type of order did Servotech Power Systems LTD receive?
The company received an order worth 10.20 crores rupees from Uttar Pradesh for the installation of solar energy storage and grid-connected systems.
What is the market cap of the company?
The company’s market cap is 3,055.35 crores rupees.
When did Servotech Power Systems LTD’s stock hit the upper circuit?
The company’s stock hit the upper circuit of 132.34 rupees on Wednesday.
What EV charger series does the company have?
The company offers the Spark and Squad series of EV chargers.
What was the company’s revenue for the June quarter?
The company’s revenue for the June quarter was 112.19 crores rupees.
How much did the company’s net profit increase?
The company’s net profit increased by 9.04%, reaching 4.48 crores rupees in the first quarter.
