1,056 per cent jump in net profit: This multibagger electrical equipment company reports stellar quarterly results and announces stock split!
The stock delivered exceptional returns, with a 310 per cent increase in just 6 months, a 1,300 per cent increase in 1 year, and a staggering 3,700 per cent increase in 3 years.
Servotech Power Systems Ltd a Delhi-based leading green energy solutions provider, has announced its Quarterly Results for the April-June quarter of the financial year 2023-2024. Details below:
According to the quarterly results:
Revenue from Operations grew by 148.34 per cent from Rs 32.04 crore in Q1FY23 to Rs 79.57 crore in Q1FY24.
EBITDA skyrocketed by 415.47 per cent from Rs 1.38 crore in Q1FY23 to Rs 7.13 crore in Q1FY24.
PAT skyrocketed by 1,056.34 per cent from a net profit of Rs 0.36 crore in Q1FY23 to a net profit of Rs 4.10 crore in Q1FY24.
According to the annual results, the net sales increased by 87.63 per cent to Rs 269.57 crore and net profit increased by 173.43 per cent to Rs 11.04 crore in FY23 over FY22.
Additionally, The Board of Directors of the company has approved a sub-division (split) of equity shares of the company having a face value of Rs 2 each (fully paid-up) into 2 equity shares of face value of Rs 1 each (fully paid-up). The company fixed the record date for stock split as Friday, July 28, 2023.
Servotech Power Systems is a Small-Cap company with a market cap of over Rs 1,700 crore. This is the second split, within a year. Earlier in February 2023, the company had split the face value from Rs 10 to Rs 2.
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Servotech Power Systems Ltd is engaged in manufacturing LED lighting solutions, UPS (uninterruptible power supply) systems, inverters, and batteries. The company also manufactures and distributes EV charging solutions, solar products and medical devices.
On Monday, one of the top gainers on NSE, shares of Servotech Power Systems jumped 5 per cent upper circuit to Rs 171.65 per share from its previous closing of Rs 163.50 per share.
The stock delivered exceptional returns, with a 310 per cent increase in just 6 months, a 1,300 per cent increase in 1 year, and a staggering 3,700 per cent increase in 3 years. Investors should keep an eye on this multibagger small-cap stock.