EV Stock Jumps 4% After Securing 1,415 kW Rooftop Solar Project From South Central Railway

Synopsis: Servotech has secured a new railway-linked solar project, strengthening its presence in government renewable initiatives while supporting its execution pipeline and expanding opportunities in clean energy infrastructure development. 

The shares of this small-cap company, primarily engaged in manufacturing EV Chargers, Solar Products, and Power & Backup Products, were in focus after securing a rooftop solar project from South Central Railway. 

With the market capitalization of Rs. 2186 Crores, the shares of Servotech Renewable Power System Limited, has reached an intraday high of Rs. 98.98 per share rising nearly 4 percent from its previous day closing of 95.25 per share and is trading at a P/E of 60.3 whereas industry P/E stands at 30.1  

Detailed Paragraph

Servotech Renewable Power System Limited has secured an order from South Central Railway’s Vijayawada Division for a 1415 kW rooftop solar project. According to the company’s filing, the project involves the design, engineering, supply, installation, testing, and commissioning of grid-connected rooftop solar systems across multiple railway sites under the Vijayawada Division, and it will be executed within 6 months from the issuance of the Letter of Award (LOA).

About the Company and Financials

Servotech Renewable Power System Limited is engaged in renewable energy and power solution businesses with offerings across solar products, EV charging infrastructure, and smart power solutions. The company has over 21 years of experience in the industry and operates 2 manufacturing plants located in Kundli and Safiabad, Haryana, along with 1 automated warehouse. 

Servotech has deployed more than 12,500 AC and DC EV chargers across India and has a distribution network of over 600 distributors and 6,000-plus retailers covering more than 370 towns. The company also has a dedicated R&D department, with 4 patents filed and 3 patents granted, supporting product development and innovation

Year on Year analysis: Revenue from operations has increased from Rs.  126 Crores to Rs. 210 Crores, up 66 percent. Operating profit has increased from Rs. 13 Crores to Rs. 22 Crores, up 69 percent and net profit has increased from Rs.8  Crores to Rs. 12 Crores, up 50 percent 

Quarter on Quarter analysis: Revenue from operations has increased from Rs. 202 Crores to Rs. 210 Crores, up 4 percent. Operating profit has decreased from Rs. 26 Crores to Rs. 22 Crores, down 15 percent and net profit has decreased from Rs. 15 Crores to Rs. 12 Crores, down 20 percent 

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post EV Stock Jumps 4% After Securing 1,415 kW Rooftop Solar Project From South Central Railway appeared first on Trade Brains.