Multibagger Stock Servotech Power Systems To Turn Ex-Split On Friday, Scrip Gains 1,380% In 1 Year

Servotech Power Systems shares will trade ex-date for sub-division or split on Friday, July 28. This is the second split in 2023.
Earlier in February, the company had sub-divided its equity shares into 5:1. At that time, the face value of each share was Rs 10 and sub-divided into 5 shares of Rs 2 face value each.

After the latest sub-division takes a split, the new face value of each would be Re 1.

The company's management has allotted a new ISIN -- INE782X01033. ISIN is a unique 12-digit code which is assigned to every security issuance to facilitate transactions. The new ISIN will take effect from July 28.

Delhi-based Servotech Power Systems is a NSE-listed stock. It manufactures solar products and EV charges.

Last week, Servotech Power Systems posted a manifold jump in its consolidated net profit to Rs 4.10 crore in the June quarter, boosted by higher revenues. It had posted a net profit of Rs 35 lakh in the corresponding period last year, the company said in a BSE filing.

The company's total revenue more than doubled to Rs 79.81 crore from Rs 32.06 crore in the year-ago quarter.
In a statement, Servotech Power Systems Ltd said the margins were supported by strong demand for the company's electric vehicle (EV) products. Additionally, demand for its solar products remained strong due to its functional design, durability, and user-friendly features, it said.

Servotech Power Systems is a leading manufacturer of solar, EV chargers, power-backup and other smart power solutions.
The stock opened today on the NSE at Rs 178.85 apiece with an upside gap of 2.52% over the previous close of Rs 174.45.
The stock has produced a multibagger return of 3,448.61% over the past five years, and a multibagger return of 4,462.50% during the past three years. In the last 1 year the stock has given a multibagger return of 1,380.55% and on a YTD basis, the scrip has gained 452.35% so far in 2023. In the last 6 months, the scrip has generated a multibagger return of 303.54% and has gained 14.76% in the last 5 trading sessions.

The stock made a 52-week-high of Rs 200 on (21-June-2023) and a 52-week-low of Rs 11.40 on (26-July-2022).