Servotech Power Systems Ltd. (NSE-Listed).
The company manufactures, procures and distributes a broad range of high-end,yet innovating solar products, medical equipment, as well as energy-efficient lighting solutions. The company just released High Tech Electric Vehicle Charging Stations/ Devices, and plans to quickly set up EV Charging Tech Infrastructure throughout India. Servotech was also a key contributor in India's “Electric Revolution.” “
Servotech boasts a remarkable manufacturing history that spans more than 20 years. They are experts in the manufacture of medical equipment, solar-powered infrastructure, and large-scale infrastructure projects across India. Servotech has been a national juggernaut and is a trusted provider of solutions in the green sector. #Servotech provides clients with valuable advice and introduces solutions that exceed their expectations. The company's main focus is on exceptional service and quality products.
According to the Press Release dated May 21st, 2022 and May 20th, 2022, Servotech announced its annual financial results for fiscal year ending March 31st, 2022 @ NSE. Servotech Power Systems Ltd. reported an income of Rs. As opposed to Rs. 8,790 Lacs. The same period in fiscal year last. In the same period last fiscal year, the annualized revenue growth was 64% (approx. Also, the company earned Rs. 559 Lacs. The amount was Rs. 559 Lacs even in Fiscal Year 2021-22. 115 Lacs. 115 Lacs.
The Solar Segment was their most popular product, accounting for nearly 60% of total revenue.
Servotech witnessed a significant rise in their latest project & EV chargers. This resulted in an encouraging Rs. 536 Lacs. During the same period.
Servotech Power Systems has recently created a unique solar performance monitoring & controlling device with the German Development Agency Deutsche Gesellschaftfur Internationale Zusammenarbeit GmbH. The ComPort, a portable solar system PV portable device, was successfully tested at the EUREF campus in Berlin. ComPort is a groundbreaking innovation in its field. It can be integrated in any hybrid off-grid/ solar system to create a smart systems. On the same campus, a portable solar panel ( Port) was also installed.
The device can monitor, control, and charge/discharge input/output voltage, as well as solar power generation. You can also compare past results to make comparisons and analyze data in terms of energy efficiency vs. costs. The device is easy to install in any domestic solar system. O&M Companies can use it as a data interface for analysing data.
At the testing, Mr. Bhatia, Founder &MD of Servotech was present. He stated, “We are proud of ComPort which we have developed and can integrate with any hybrid or off-grid inverter. This will empower users who have used solar solutions to maximize the benefits of these systems.” This device is ideal for optimizing solar system performance due to its features such as remote power scheduling and DIY installation. We have filed multiple patents to the device. “
The company has made encouraging progress and continues to innovate. It is focused on scaling and manufacturing. It is also expanding its commitment in order to better serve current and potential customers. This is a clear indication that the company can maintain this momentum for the next few years.
This Virtual Interview with Mr. Bhatia, Founder and Managing Director at Servotech, is intended to help you understand how your company will grow and what your future plans are.
Exclusive Interview with Mr. Raman Bhatia, TWN Editorial Team.
Servotech's FY21-22 results were remarkable. Highlight the key takeaways and the strategy that led to these remarkable results.
The 64% increase in revenue is the best and most illustrative indicatorof excellent fundamentals, resilience and strategy execution. We were able to grow and generate revenues through our diverse portfolio, even in difficult and disruptive times, which is a strong indicator of our excellent fundamentals, resilience, and strategy execution.
Based upon your strong product-by product revenue statistics, which product group do you expect to make the most money over the next year?
Given the success of renewable energy sources in both the home and industry circuits and the effectiveness with which the government pushes for them, it is reasonable to expect that our solar products will be the standouts in the next year. You can see how important this is by the fact that 60% of our product sales were made through our solar line in the last fiscal year. Our EV charger segment range could be an additional differenceiator. EV chargers are likely to take over the market in India as India shifts to electric mobility . EVs will become the norm and there are many exciting opportunities.
Tell our readers about the business strategy Servotech has in mind to expand its operations in India.
With strong momentum across all of strategy pillars made significant progress towards our goal of making tech enabled solutions affordable and easily accessible for the general public in the last fiscal year. Consistent gross margins were achieved through calibrated pricing, focusing on cost optimization and efficiencies. We will continue to focus on expanding the partner network programme which has already allowed us to spread our solar solutions across 21 Indian States. We will also be able to establish a competitive advantage by launching our electric vehicle charger, which will be supported through our ongoing R&D projects and innovation.
Based upon your financial situation, what are your projections for the next 2 years to 2025?
This trend will continue into FY 2023 and beyond. In the coming years, our R&D team will create a number of customer-focused solutions. This will result in a diverse and robust business-generating pipeline. The high-precision solar technology and the electric vehicle charging technologies that we recently announced will not only move consumers away from traditional energy solutions and towards modern solutions but also generate significant revenue for all our stakeholders. We aim to achieve a double-digit rate of growth over the next five year. This will be made possible by our commitment to highly consumer-centric solutions.