Servotech Power Systems Ltd. releases FY21-22 financial results, sees a 64% increase in revenue, 386% increase in profits, 41% growth in EBITDA, and an improved EPS of Rs. 2.15/share.
Servotech Power Systems Ltd. bagged annual revenue of Rs 14,425 lacs as against Rs 8,790 lacs in the same period last fiscal, registering an annualised growth in revenues of around 64%. Additionally, the company delivered a profit of Rs 559 lacs during the 2021-2022 financial year, as against Rs 115 lacs in the same period last fiscal, attaining a 386% increase in YoY gains.
The standout product from their diversified portfolio was the solar segment, which made up for close to 60% of their total product revenue, followed by medical devices and spares. Servotech also witnessed an impressive growth in their latest venture, EV chargers, drawing an encouraging value of 536 lacs during this period.
Reflecting upon the results, Servotech Power Systems Ltd. Managing Director Raman Bhatia noted, “Despite the year being disrupted by the pandemic, supply chain problems, and sharp increase in commodity costs, Servotech accomplished results that will make FY22 a watershed year for us. Our strong numbers show that we’ve created immense value for our customers, partners, and key stakeholders. The mass-scale adoption of solar power solutions has been proportionately reflected in our product revenues. Moreover, with Servotech now stepping into the EV Charging segment to bolster India’s EV tech infrastructure, this value is set to grow multi-fold. Thus it will translate into long-term, sustained, and durable profitability.”