The complete business offering has changed for the better with the start of technology advancement in the clean energy sector vertical; and with the liking inclinations of today's consumers/users worldwide to embrace greener energy solutions supplied by the Global Auto Sector.
Almost all major vehicle manufacturers are rethinking their growth strategy by turning their navigation maps toward Battery Driven Vehicles, also known as EVs/ Electric Vehicles, as a route ahead toward the adoption and application of cleaner energy.
Before we go any further in this Business Profit Post, let us remind our readers that the Indian EV Ecosystem is fast expanding, not only at the level of automotive manufacturers, but also as a sustainable ecosystem at the support infrastructure end, which will create the development story for the aspirations of the new vertical in the auto sector, which promises a cleaner and emission-free planet.
In the coming period, the sector is expected to rise by a factor of ten!
The EV Sector has seen a huge increase in the number of industry players diving into the EV tech infrastructure development initiatives and projects that are essential for carving an ecosystem that can sustain and grow multifold in the days to come, thanks to the Indian Government leading from the front and taking many path-breaking decisions associated with the EV Policies in India.
Servotech Power Systems Ltd. has established itself as a leader in the development of EV Tech Infrastructure Products (High-Tech EV Charging Devices & Solutions) as a Turnkey Solution.
This #business profit post is an attempt to inform our #TWN Readers about Servotech's performance as a player in the industry. The company's press release will explain how they beat their own benchmark performance of FY21 market results by 64 percent in FY22.
Servotech Power Systems Ltd., an NSE-listed business, has emerged as a trailblazer in merging technology and creativity into out-of-the-box solutions. The business develops, manufactures, and distributes a wide range of high-end yet innovative solar products, medical equipment, and energy-efficient lighting solutions. With the recent release of High-Tech EV Charging Machinery, the business intends to quickly create EV Charging Tech Infrastructure throughout India, accelerating the country's transition to the "Electric Revolution."
With a tremendous legacy of over two decades in creating Solar-Powered Infrastructure and assembling large-scale projects across India, Servotech is devoted to not only setting standards but precedents one after the other in giving nothing but the best. In a relatively short period of time, the company has become synonymous with brilliance and perfection. Servotech has established itself as a national powerhouse by establishing a reputation as a trustworthy and dependable solution supplier. Servotech aims to deliver crucial advise to clients by introducing solutions that not only meet but also exceed their expectations. While the company is quickly expanding, it maintains 100% client happiness by focusing on quality.
Servotech Power Systems Ltd. (NSE: SERVOTECH), a major provider of Solar, LED, Medical-grade Equipment, and Electric vehicle (EV) Charging Solutions, announced its annual financial results for the fiscal year ending March 31, 2022 in a press release on May 21, 2022.
Servotech Power Systems Ltd. recorded annual revenue of Rs. 14,425 lacs, up from Rs. 8,790 lacs in the previous fiscal year, reflecting a 64 percent increase in annualised revenue (Approx.) Furthermore, during Fiscal Year 2021-22 (FY21), the company earned Rs. 559 Lacs., up from Rs. 115 Lacs. in the preceding Fiscal Year 2020-21 (FY21), marking a 386 percent increase in YoY Gains.
The Solar Segment, together with Medical Equipment and Spares, was the outstanding product in their diverse portfolio, accounting for roughly 60% of overall product revenue. Servotech's Latest Project & EV Chargers showed a significant gain throughout the same period, bringing in an optimistic Rs. 536 Lacs.
"Despite the pandemic, supply chain challenges, and sharp increases in commodity costs, Servotech achieved the goal that would make FY22 a watershed year for us," stated Raman Bhatia, the company's Managing Director. Our excellent results show that we have added tremendous value to our customers, associates, and other important stakeholders. Our product sales have risen in tandem with the expanding adoption of solar energy solutions. This characteristic is expected to expand multi-fold with Servotech's entry into the EV Charging Segment to improve India's EV Tech Infrastructure. Expansion of our experienced personnel, increased innovation initiatives, and optimization of our go-to-market strategy will all enable wiser lifestyle options for customers, as well as upscaling opportunities for our team, in the future as well as the creation of profitable whitespace for our clients On that note, I am looking forward to an exciting year ahead."
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nse servotech annual revenue growth, ecosystem of evs in india, ev policies in india
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