Servotech Power Systems Limited, an NSE-listed company with a history of over two decades, is one of India’s top producers and suppliers of Solar, EV Charger, LED, UVC and Medical-grade products. The market valuation of this small cap company was 471 crores on Friday. For the quarter ending December 2022 or Q3FY23, the company declared an interim dividend of Rs. 0.20/- per equity share, raised 77% of the preferential issue through stock split in the ratio of 1:5 and Foreign Portfolio Investor (FPI); The rest was raised through Indian individuals and corporates.
The firm has declared an interim dividend of Rs. 0.20 per equity share of the Company for the financial year 2022-2023, and the amount of interim dividend will be credited to the accounts of eligible shareholders on or about Saturday, February 18, 2023. In addition to the dividend, the board also declared a stock split in the ratio of 1:5, or split of one equity share of Rs. 10 per share in five equity shares of Rs. 2 each. The Corporation has set the record date for the two corporate actions described above as February 3, 2023.
The firm said it has expanded its channel distribution network across India and has reached the milestone of providing over 1500 EV chargers during the quarter ending December 2022 or Q3FY23. Additionally, Servotec Power Systems said it has expanded into the international business market and developed Comport, a solar performance monitoring tool. The company reported a strong third-quarter performance in addition to incorporating Li-ion and tubular battery maker TechBac and implementing corporate actions including dividends and stock splits.
In the third quarter of FY23, the firm registered a net sales of 83.27 crore on a consolidated basis, up 101% from Rs. 41.41 crore reported in Q3 of FY22. in comparison 1.07 Crore reported in Q3FY 22, the firm reported a consolidated net profit of Rs. 3.87 Cr in Q3FY23, showing a YoY growth of 261%. Servotech Power Systems’ earnings per share (EPS) jumped from 0.58 in Q3FY22 1.82 in the quarter ending December 2022.
Shares of Servotech Power Systems locked at the upper circuit level of 5 per cent on Friday on the NSE. Closes after touching an intraday low of 221.60 215.00. The stock recorded a total volume of 234,621 shares as compared to 20-day average volume of 42,413 shares. As per the chart pattern, the stock is moving towards its upper circuit since Jan 19, 2023, showing a positive trend in last six trading sessions.
The company went public on the NSE on September 2, 2021 and has since climbed 622.02% from its IPO price to its all-time high. 31 per share. share price climbed 107.55 on Jan 31, 2022, at the current market price during 1 year, resulting in a multibagger return of 106.04%. The stock is up 36.87% year to date, and has gained in last six months 59.30 on Aug 1, 2022, at current price levels, generating multibagger returns of 273.69%.
The stock has appreciated 26.20% during last five trading sessions and 39.33% in last month. The stock reached a 52-week low 57.00 on (26-July-2022), indicating that after hitting an all-time high on Friday, the stock was seen trading up 288.77% from its 1-year low. Servotech Power Systems reported promoter shareholding of 60.59% and public shareholding of 39.41% for Q3FY23.
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