Multibagger penny stock under Rs 80 with 3,300 per cent returns: This micro-cap company files two patents for energy management technologies!

Kiran Shroff
/ Categories: Trending, Penny Stocks
Multibagger penny stock under Rs 80 with 3,300 per cent returns: This micro-cap company files two patents for energy management technologies!

The stock delivered multibagger returns, with a 174 per cent increase in just 6 months, a 370 per cent increase in 1 year, and a staggering 3,330 per cent increase in 3 years.

Servotech Power Systems, a leading manufacturer of EV chargers and solar solutions, has announced that it has filed two patents for innovative energy management technologies to facilitate grid service optimization through a battery energy storage system and to effectively channel renewable energy into BESS for maximum value, enabling the transition to sustainable energy. These innovations will transform energy management and will improve overall efficiency.

The first patent, titled "System and Method for Controlling Load Shifting by Third Party" relates to a system and method for enabling third-party entities to control load shifting in a Battery Energy Storage System (BESS). The technology allows third-party entities, such as utilities or aggregators, to optimize the use of BESS assets to provide grid services.

The second patent, titled "System and Method for Effective Energy Channelization from a Renewable Energy Source" relates to a system and method for effectively channelling energy from a renewable energy source, such as solar or wind, into a BESS. The technology optimizes the use of renewable energy by ensuring that it is stored in the BESS when it is most valuable.

Both of these cutting-edge technologies possess applicability across a broad spectrum of fields, including solar and electric vehicle charging systems. The technologies are covered under two pending applications.

On July 28, 2023, the company's stock traded after a 2-for-1 stock split, which means that each share with a face value of Rs 2 was split into two shares with a face value of Rs 1.

According to the Quarterly Results, the net sales grew by 148.34 per cent to Rs 79.57 crore and PAT skyrocketed by 1,056.34 per cent to a net profit of Rs 4.10 crore in Q1FY24 over Q1FY23. 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. 

On Monday, shares of Servotech Power Systems plunged 3.23 per cent to Rs 74.85 per share with an intraday high of Rs 78.90 and an intraday low of Rs 73.60. The company has a market cap of over Rs 1,500 crore.  

The stock delivered multibagger returns, with a 174 per cent increase in just 6 months, a 370 per cent increase in 1 year, and a staggering 3,330 per cent increase in 3 years. Investors should keep an eye on this multibagger micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.

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