Servotech Renewable Power System Ltd. (Formerly known as Servotech Power Systems Ltd.) (NSE: SERVOTECH), India’s largest manufacturer of Electric Vehicle (EV) chargers, and a leading provider of Solar solutions, EV Charger components and Power-Backup solutions, presented its quarterly financial results for the quarter and nine months ended 31st December, 2024 at its Board of Directors meeting on 21st January, 2025.
FINANCIAL HIGHLIGHTS
Consolidated
- Total Revenue witnessed stellar growth of 3% in Q3 FY25 to Rs. 21,683.2 lacs from Rs. 5,220.6 lacs in Q3 FY24
- EBITDA increased by 1% from Rs. 321.6 lacs in Q3 FY24 to Rs. 1,672.8 lacs in Q3 FY25
- PBT stood at 1,282.5 lacs in Q3 FY25, compared to Rs. 185.8 lacs in Q3 FY24, witnessing a growth of 590.2%
- PAT stood at 798.7 lacs in Q3 FY25, compared to Rs. 111.4 lacs in Q3 FY24, witnessing a growth of 616.8%
- In terms of 9M performance, total revenue increased by 1% and stood at Rs. 52,934.0 lacs in 9M FY25 compared to Rs. 21861.0 lacs in 9M FY24
- EBITDA increased by 1% from Rs. 1,631.5 lacs in 9M FY24 to Rs. 4,455.9 lacs in 9M FY25
- PAT increased by 1% and stood at Rs. 2,371.9 lacs in 9M FY25 compared to Rs. 834.8 lacs in 9M FY24, margins improved to 4.5% from 3.8% during the same period
Standalone
- Total Revenue witnessed stellar growth of 8% in Q3 FY25 to Rs. 18,185.7 lacs from Rs. 4,984.5 lacs in Q3 FY24.
- EBITDA increased by0% from Rs. 318.6 lacs in Q3 FY24 to Rs. 1,698.1 lacs in Q3 FY25
- PBT stood at 1,309.4 lacs in Q3 FY25, compared to Rs. 182.9 lacs in Q3 FY24, witnessing a growth of 616.0%
- PAT stood at 829.7 lacs in Q3 FY25, compared to Rs. 109.2 lacs in Q3 FY24, witnessing a growth of 659.8%
- In terms of 9M performance, total revenue increased by 6% and stood at Rs. 46,236.9 lacs in 9M FY25 compared to Rs. 18,601.6 lacs in 9M FY24
- EBITDA increased by 8% from Rs. 1,596.7 lacs in 9M FY24 to Rs. 4,499.9 lacs in 9M FY25
- PAT increased by 3% and stood at Rs. 2,441.8 lacs in 9M FY25 compared to Rs. 813.0 lacs in 9M FY24, margins improved to 5.3% from 4.4% during the same period
Commenting upon the results, Raman Bhatia, Managing Director, Servotech Renewable Power System Ltd. (Formerly known as Servotech Power Systems Ltd.) said, “The quarter experienced stellar growth, fueled by our unwavering commitment to delivering cutting-edge, technology-driven solutions in electric vehicles and solar energy. As a market leader in India’s EV charging sector, currently holding a 35-40% market share, we are strategically positioned to capture 50-55% by manufacturing 12,000 DC fast chargers in FY25, meeting the rapidly surging demand for EV infrastructure. EV chargers are projected to constitute 70-75% of our total revenue, with solar products contributing the remaining portion. This dual-pronged focus on innovation reflects our dedication to creating long-term value for our stakeholders while simultaneously contributing to a sustainable future. The trust and enthusiasm of our customers and shareholders inspire us to push boundaries and set higher benchmarks. We are optimistic about the future and committed to driving growth and establishing ourselves as a global leader in renewable energy and smart energy solutions.”
