With a market value of Rs. 386.92 Crore, Servotech Power Systems Limited is a Small-cap company engaged in Electric Appliances industry. Servotech is a top producer of solar products, medical devices and energy solutions.
On Saturday, the company said in a stock exchange filing that “the Board of Directors of Servotech Power Systems Limited (the “Company”) has considered, inter alia, the recommendation of its sub-committees at its meeting held on January 21, 2023. , Re-approved the declaration of Interim Dividend of Rs.0.20/- per Equity Share of the Company for the Financial Year 2022-2023. It may also be noted that the amount of Interim Dividend will be deposited in the respective bank accounts of the eligible shareholders on Saturday, 18th February , will be deposited on or around 2023.”
Further, Friday, February 3, 2023 has been fixed as the record date for payment of interim dividend and sub-division of face value 1 Equity Share each. 10/- each in 5 Equity Shares of face value of Rs. 2/- each.
In Q3FY23, the company reported a net sales of 83.27 crore on consolidated basis as compared to Rs. 41.41 Cr reported 101% YoY over the year-ago quarter. The company reported a consolidated net profit of 3.87 Cr in Q3FY23, as against 1.07 crore was reported in Q3 FY22, representing a 261% year-on-year growth. Servotech Power Systems EPS rises to 1,82 per share in the quarter ending December 2022 as compared to 0.58 reported in the quarter ending December 2021.
On Friday, the shares of Servotech Power Systems Limited closed on the NSE 181.95 each level, up 2.77% from its previous close 177.05. The stock recorded a total volume of 104,723 shares as compared to the 20-day average volume of 22,148 shares. The company got listed on the stock exchanges on 02-Sep-2021 and since then it has gained 622.02% since its IPO. The stock has appreciated 75.88% over the last year, and YTD, it has climbed 12.38%. The stock has witnessed multibagger return of 209.97% in last six months and has climbed 26.27% during last month.
Based on the technical outlook of the stock, “Servotech Systems has a market cap of Rs. 400 cr and is trading near its 52nd week, Face value of 10, EPS 1.88, Positive earnings growth, EBITDA stable and profit margin improving On technical setup, the stock has shown a strong move and has given 88 per cent returns in 1-year period. Momentum indicators are suggesting that the counter may touch 200 levels in the near term, said Manoj Dalmia, Director, Praveen Equities. Could
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