Multibagger penny stock under Rs 80 with 3,300 per cent returns: This micro-cap company reports a 538 per cent jump in net profit!

Kiran Shroff
/ Categories: Trending, Penny Stocks
Multibagger penny stock under Rs 80 with 3,300 per cent returns: This micro-cap company reports a 538 per cent jump in net profit!

The stock delivered multibagger returns, with a 203 per cent increase in just 6 months, 400 per cent increase in 1 year, and a staggering 3,370 per cent increase in 3 years.

Servotech Power Systems Ltd, a leading manufacturer of EV chargers and solar solutions, has announced its Quarterly Results and half-yearly results ended September 30, 2023. Details below:

Quarterly Results (Q2FY24)

  • Revenue from operations is up by 114 per cent to Rs 85.93 crore compared to Q2FY23.
  • EBITDA has grown by 148 per cent to Rs 5.97 crore compared to Q2FY23.
  • PAT increased by 301 per cent to Rs 3.12 crore compared to Q2FY23.

Half-yearly Results (H1FY24)

  • Revenue from operations is up by 133 per cent to Rs 165.5 crore compared to H1FY23.
  • EBITDA has grown by 246 per cent to Rs 13.1 crore compared to H1FY23.
  • PAT increased by 538 per cent to Rs 7.23 crore compared to H1FY23.

Earlier, Servotech Power Systems has filed two patents for innovative energy management technologies. The first patent, "System and Method for Controlling Load Shifting by Third Party," allows third-party entities to control load shifting in a Battery Energy Storage System (BESS). This technology optimizes the use of BESS assets to provide grid services. The second patent, "System and Method for Effective Energy Channelization from a Renewable Energy Source," optimizes the use of renewable energy by ensuring that it is stored in the BESS when it is most valuable. Both of these technologies have broad applicability, including solar and electric vehicle charging systems.

On Tuesday, shares of Servotech Power Systems surged 3.57 per cent to Rs 79.8 per share with an intraday high of Rs 79.95 and an intraday low of Rs 77.15. The company has a market cap of over Rs 1,700 crore.  

The stock delivered multibagger returns, with a 203 per cent increase in just 6 months, 400 per cent increase in 1 year, and a staggering 3,370 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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