Multibagger EV Stock: Delhi-Based Company Gets Nod To Change Name

On Monday, shares of EV charger manufacturer company Servotech Renewable Power System Ltd jumped around 4 per cent to an intraday high of Rs 157.25 per share from its previous closing of Rs 151.41 per share. The stock's 52-week high is Rs 205.40 and its 52-week low is Rs 73.50. The company has a market cap of over Rs 3,470 crore with multibagger returns of 6,610 per cent in 5 years.

.

The most recent name that it was registered with is Servotech Power Systems Limited, this registration took effect on December 18, 2024. A "Certificate of Incorporation pursuant to change of name" was granted by the Ministry of Corporate Affairs, however, the Corporate Identification Number (CIN) of L31200DL2004PLC129379 remained unaffected.

Recently, Servotech announced a strategic partnership with a German company called LESSzwei GmbH (LESS2) to achieve sustainable infrastructure objectives. The aim of the project which is run using AI technology is to improve the efficiency of energy use whilst reducing carbon emissions by providing existing solar systems and energy storage units into computerized street charging points ("BIKE-Ports") to certain urban areas.

The ports will enable operational cover for three to four two-wheelers at any given time around the clock. This is all made possible by the adequate financial support the German Federal Ministry for Economic Affairs and Climate Action (BMWK) has provided for the two-and-a-half-year project. The project is expected to install 100 systems across 50 urban Centers in Germany. As for Servotech, it is going to manufacture and deliver solar charging stations while for LESS2 the focus is going to be on AI and app creation.

The company's financial performance in the global market for quarter two of the fiscal year 2025 was impressive. The overall turnover increased by 131 per cent to Rs 20 006.93 lakh when compared to Rs 8659.09 in quarter two of the fiscal year 2024. However, EBITDA jumped up by 223 per cent from Rs 597.03 lakh to Rs 1,929.33 lakh, while the net profit after tax approximately increased by 260 per cent from Rs 312.40 lakh in the same quarter of the last year. In the first semester of fiscal year 25, revenue increased from Rs 16640.45 lakh in the first half of 24 to Rs 31 250.85 lakh. The increase in revenue grossed an 88% rise. EBITDA grew by a 112% increase from Rs 1309.93 lakh to Rs 2,783 lakh, Net PAT raised by 117% from Rs 723.38 lakh to Rs 1,573.14 lakh.

Servotech Renewable Power System Limited is listed with the NSE and is focused on tech-enabled EV charger solutions exploiting more than 20 years of experience in the electronic industry. The company has a broad portfolio of AC and DC EV chargers for different vehicles both for commercial and residential uses. Servotech intends to be a significant player in realizing the EV technology ecosystem for green mobility in India, having in-house engineering capabilities. Servotech is recognized as one of the trusted brands with a well-established presence across all parts of India and has a history of successful innovations and advanced technology development.