Servotech Power Systems Ltd. Reports FY22 Results, with Revenue Increasing by 64% over FY21

With the onset of technological development in the clean energy industry vertical; and with the likable preferences of embracing greener energy solutions offered by the Global Auto Sector by today's consumers/ users worldwide, the entire business offerings have changed for good.

As a way forward, toward the adoption and adaptation of cleaner energy, almost all major automobile manufacturers are redefining their growth strategy by turning their navigation maps toward Battery Driven Vehicles more commonly known as EVs/ Electric Vehicles.

Before we take you any further in this Business_Profit_Post, let us enlighten our readers that the Ecosystem of EVs in India is rapidly evolving not only at the automobile manufacturer's end but also at the support infrastructure end as a sustainable ecosystem that will set the growth story for the aspirations of the new vertical in the auto world, which promises a cleaner and emission-free world.
The sector is projected to grow multifold in the come era!

With the Indian Government leading from the front and taking many path-breaking decisions associated with the EV Policies in India, the EV Sector has seen a huge increase in the number of industry players diving into the EV tech infrastructure development initiatives and projects that are essential for carving an ecosystem that can sustain and grow multifold in the days to come.

Servotech Power Systems Ltd. has emerged as one of the pioneers in the sector of developing EV Tech Infrastructure Products (Hi-Tech EV Charging Devices & Solutions) as a Turnkey Proposition.

This #business_profit_post is an effort to apprise our #TWN_Readers of Servotech's performance report as an industry player. This Press Release by the company will throw some light on how they have outperformed its own benchmark performance of FY21 market results by 64% in FY22.

The NSE-listed company Servotech Power Systems Ltd. has surfaced as a forerunner in evolving out-of-the-box solutions by incorporating technology and innovation. The company manufactures, procures, and distributes a large range of high-end yet innovative solar products, medical equipment, and energy-efficient illumination solutions. With the recent release of High-Tech EV Charging Machinery, the company is planning to rapidly establish EV Charging Tech Infrastructure all over India and speed up the country's shift to the "Electric Revolution."

Servotech is committed to not only establishing standards but precedents one after the other in offering nothing but the best, with a phenomenal legacy of over 2 decades in constructing Solar-Powered Infrastructure and assembling large-scale projects across India. Since its inception, the company has become associated with brilliance and perfection in a relatively short time. Servotech has managed to establish itself as a national juggernaut by being widely perceived as a reliable and dependable solution provider. Servotech strives to provide critical advice to clients by introducing remedies that not only fit but exceed expectations. While rapidly expanding, the company maintains complete client satisfaction by maintaining a precise focus on quality.

Also Read: Electric Vehicle-The Future of transportation

As per the Press Release on May 21, 2022; on May 20, 2022, Servotech Power Systems Ltd. (NSE: SERVOTECH), a major provider of Solar, LED, Medical-grade Equipment, and Electric vehicle (EV) Charging Solutions, introduced its annual financial results for the fiscal year ending March 31, 2022.

Servotech Power Systems Ltd. reported Annual Revenue of Rs. 14,425 Lacs. as opposed to Rs. 8,790 Lacs. in the same period last fiscal year, representing an Annualized Revenue Growth of 64% (Approx.) Furthermore, the company earned Rs. 559 Lacs. even during the Fiscal Year 2021-22 (FY21), up from Rs. 115 Lacs. in the previous Fiscal Year 2020-21 (FY21), representing a 386% Growth in YoY Gains.

The Solar Segment was the standout product in their diverse portfolio, accounting for nearly 60% of overall product revenue, accompanied by Medical Equipment and Spares. Servotech also saw an impressive increase in their Latest Project & EV Chargers, bringing in an encouraging Rs. 536 Lacs. during that same period.

The Managing Director of the Company- Raman Bhatia said- “Despite the pandemic, supply chain issues, and sharp increase in commodity prices, Servotech achieved the objective that will make FY22 a watershed year for us. Our impressive numbers demonstrate that we have created enormous value for our customers, associates, and relevant stakeholders. Our product revenues have increased in proportion to the widespread adoption of solar power solutions. Furthermore, with Servotech now entering the EV Charging Segment to strengthen India's EV Tech Infrastructure, this parameter is assumed to multiply multi-fold, translating into long-term, prolonged, and durable profitability. Going forward, expanding our skilled workforce, increasing our innovation efforts, and optimizing our go-to-market strategy will all enable wiser lifestyle solutions for clients, upscaling possibilities for our team, and the creation of profitable whitespaces for our customers. On that note, I look forward to another exciting year in prospect.”

More About Servotech Power Systems

Servotech Manufactures, Procures, and Distributes a wide variety of high-end & sophisticated Solar Products, Medical Devices, and Energy-Efficient Lighting Solutions. Having entered the EV Market with the release of High-Tech EV Charging Devices, the company intends to quickly establish EV Charging Tech Infrastructure across India and accelerate the Country's transition to the Electric Revolution.
Servotech is committed to not only setting standards but precedents one after the other in offering nothing but the best, with a phenomenal legacy of over Two Decades in creating Solar-Powered Infrastructure and Commissioning Endeavors on a Massive Scale across India.

In 2021, the company announced its entry into the EV Market by beginning the production of Smart Tech-Driven Creative EV Chargers for configuration at various EV Charging Sites across the Country. The decision to embark on this new journey is consistent with the company's vision of finding solutions in accordance with the Indian Government's- Make in India strategy and guiding the country toward a greener and more sustainable future.

Some Facts & Figures Regarding this Press Release:
Borrowing has declined by about 23% (from Rs. 25.06 Cr. to Rs. 19.20 Cr.)
The Earnings per Share have gone up by 4.21X (From Rs. 0.51 to Rs. 2.15 per Share)
Cash Reserve increased by 135% (from Rs. 3.39 Cr. to Rs. 7.95 Cr.)
Debtors’ Collection improved by 30% (from Rs. 50.57 Cr. to Rs. 35.40 Cr.)

It is estimated that by 2025, Servotech Power Systems Ltd. will generate a Revenue of Rs. 53,717 Lacs. with a Profit of Rs. 3,435 Lacs, which in itself will be a Remarkable Achievement for the Company.
With this, the Official Press Release Ends.

You can Explore Other Business Blog Post on Servotech is Turbo Charged with Deepak Kumar as the VP- EV Charger Business Vertical by Clicking on the Link Below:
https://www.thinkwithniche.com/blogs/details/servotech-appoints-deepak-kumar-as-the-vp

For more information on Servotech Power Systems Ltd., Please Visit https://www.servotech.in.
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