Sarika Bhatia, Director of Servotech Power Systems Ltd. said, “We are thrilled to contribute to Nashik’s transition to cleaner transportation and remain fully committed to fostering a sustainable future for both the city and the nation by working on the additional order given by NMC. At Servotech, we’re dedicated to enhancing the charging experience for all EV owners. As we serve a growing customer base, we are carving out our own niche in the EV charging sector. Strengthening the EV charging network with Servotech’s leading software and hardware represents a major advancement in our goal for high-speed, accessible charging infrastructure in India. This initiative aligns with our commitment to delivering exceptional customer experiences. With our extensive network of convenience and mobility sites both on and off highways, this partnership with NMC will provide fast and reliable charging solutions to EV drivers in and around Nashik whenever they need it.”

This order will meet the growing need for convenient EV charging infrastructure in Nashik, supporting the city’s shift toward sustainable transport solutions. By developing an accessible and enhanced EV charging network, it will be easier for EV users to recharge their vehicles, ensuring seamless intercity and interstate journeys. Servotech will oversee the

installation, supply, and maintenance of EV charging stations across Nashik, strengthening the city’s charging network. This positions Servotech as a key player in India’s EV infrastructure growth, aligning with national goals for a robust EV ecosystem. Moreover, the initiative demonstrates Servotech’s commitment to sustainability, contributing to cleaner transportation and reduced emissions in Nashik.

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The PM Surya Ghar Muft Bijli Yojana, aimed at solarizing households and promoting green growth, has received tremendous traction, with over 1.28 crores registrations and 14 lakh applications. Servotech’s enrollment with DISCOMs under this scheme will further amplify its impact by making sustainable energy solutions more accessible and affordable for a wider audience.

“We are thrilled to partner with DISCOMs and contribute to the government’s vision of a solar-powered India,” said Sarika Bhatia, Director Sales, Servotech Power Systems Ltd. “This enrolment allows us to leverage our expertise in solar solutions to empower individuals and communities to embrace clean energy, reduce their carbon footprint, and achieve long-term cost savings. The overwhelming response to the PM Surya Ghar Muft Bijli Yojana is a testament to the nation’s growing awareness and commitment to sustainable practices. We are proud to be at the forefront of this transformative journey”, added Sarika Bhatia.

Servotech’s extensive range of high-quality solar solutions, coupled with its commitment to innovation and customer satisfaction, positions it as a trusted partner for individuals and businesses seeking to transition to renewable energy. By collaborating with DISCOMs across multiple states, Servotech is playing a pivotal role in accelerating India’s energy transition and contributing to a greener, more sustainable future.

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FINANCIAL HIGHLIGHTS

Consolidated

• Total Revenue witnessed stellar growth of 41% in Q1 FY25 to Rs. 11,243.92 lacs from Rs. 7,981.35 lacs in Q1 FY24
• EBITDA increased by 20% from Rs. 712.89 lacs in Q1 FY24 to Rs. 74 lacs in Q1 FY25
• Gross Profit increased by 29% from Rs. 1,577.52 lacs in Q1 FY24 to Rs. 2,038.34 lacs in Q1 FY25
• PBT stood at Rs. 614.47 lacs in Q1 FY25, compared to Rs. 549.14 lacs in Q1 FY24, witnessing a growth of 12%
• Net PAT stood at Rs. 448.94 lacs in Q1 FY25, compared to Rs. 410.97 lacs in Q1 FY24, witnessing a growth of 9%

Standalone

• Total Revenue witnessed stellar growth of 43% in Q1 FY25 to Rs. 9,775.48 lacs from Rs. 6,838.98 lacs in Q1 FY24.
• EBITDA increased by 25% from Rs. 696.60 lacs in Q1 FY24 to Rs. 869.66 lacs in Q1 FY25
• Gross Profit increased by 35% from Rs. 1,439.27 lacs in Q1 FY24 to Rs. 1,940.26 lacs in Q1 FY25
• PBT stood at Rs. 630.44 lacs in Q1 FY25, compared to Rs. 538.39 lacs in Q1 FY24, witnessing a growth of 17%
• Net PAT stood at Rs. 474.33 lacs in Q1 FY25, compared to Rs. 402.93 lacs in Q1 FY24, witnessing a growth of 18%

Commenting on the results, Raman Bhatia, Founder and Managing Director, Servotech Power Systems Ltd. said we got outstanding results in Q1FY25, but we are not satisfied and working for even better and are confident that we will achieve our goals in the coming quarters. We are committed to providing our customers with the best possible products and services and are constantly innovating and improving them. We are also expanding our sales and marketing efforts. We are excited about the future of our company. With the Safiabad plant set to become fully operational soon, we will be able to significantly increase our production capacity to meet the growing demand of our products and this plant will become a major asset to our company. We are confident that we have a bright future ahead, and remain committed to achieving high growth and becoming a leading player in the global market.

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Dr. Philipp Ackermann, German Ambassador to India and Bhutan, was the chief guest at the event, inaugurating the solar-powered EV charging station in the presence of  Mr. Raman Bhatia (Founder and MD, Servotech Power Systems Limited) Mr. Amarjeet Singh, (CEO, BSES Yamuna Power Limited) Mr. Chintan Shah, (Principal Advisor, NSEFI) and Mr. Subrahmanyam Pulipaka, (CEO, NSEFI). This initiative is a collaboration between the National Solar Energy Federation of India (NSEFI) and the Bundesverband Solarwirtschaft e.V (BSW), in cooperation with BSES and the Municipal Corporation of Delhi (MCD). The Solar-Powered EV Charging Carport was established under the KVP project framework. The KVP project is supported by the German non-profit company Sequa GmbH, as part of the Business Membership Organization Partnerships of the German Federal Ministry for Economic Cooperation and Development (BMZ). This PV Carport introduces a new business model for DISCOMs and business operators aiming to replace last-mile delivery vehicles with an electric fleet. The system enables fast charging for two and four-wheelers in under an hour, facilitating efficient delivery services in inner-city and confined spaces.

On this occasion, Raman Bhatia, Founder and Managing director, Servotech Power Systems Ltd. said We are thrilled to inaugurate Delhi’s first solar-powered EV charging carport along with NSEFI, marking a significant step towards sustainable urban mobility for a greener future. The newly inaugurated solar carport exemplifies our efforts to reduce carbon emissions and enhance living conditions through sustainable technology. This initiative will prove to be beneficial in decarbonizing mobility and electricity through solar energy. The growth of India’s solar and energy storage sectors across various fronts is dynamic, and by integrating renewable energy solutions into our infrastructure, we not only address current environmental challenges but also pave the way for a cleaner, more sustainable future for all. Servotech stands for innovation and is committed to leading the charge in sustainable energy solutions, driving positive change for the environment and society.

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Sarika Bhatia, Director of Servotech Power Systems Ltd., commented on this announcement, we take immense pride in accelerating India’s E-Mobility revolution in collaboration with BPCL. Our partnership focuses on establishing a dynamic EV charging network that makes EV charging accessible for EV owners nationwide. Through cutting-edge DC Fast EV Chargers, Servotech Power Systems aims to play a pivotal role in realizing India’s ambitious goals in the E-Mobility sector, bringing the nation closer to becoming an EV-powered nation.

As India wholeheartedly embraces electric mobility, Servotech stays at the forefront of developing a robust EV charging infrastructure and has already successfully supplied 4000 EV Chargers across India (as of Jan 2024). Our active support ensures the nation’s smooth transition toward a cleaner and more sustainable transportation ecosystem. This strategic initiative not only represents a significant milestone but also paves the way for a robust and expansive charging network, essential for the future of high-capacity and rapid EV charging, said Sarika Bhatia

Serovtech Power Systems and BPCL had previously worked together to transform the E-Mobility landscape. The company also bagged an order to supply and install 2649 AC EV Chargers at different locations across the country for BPCL’s E-drive project. Servotech has already completed 36% of supply and installation and the entire project will be completed by March’24.

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Lastly, the company plans to set up and commission a charging station equipped with a 14 kW EV Charger, suitable for 2, 3 & 4 wheelers, within Lloyd’s premises. Accessible to students and faculty of the institute, it will offer free charging. The charging station will also extend its services to the general public and students from nearby institutes. This inclusive approach cultivates communal advantage and these initiatives ultimately expedite the widespread adoption of EVs.

The R&D centre aims to foster innovation, create awareness, sensitize individuals, and upskill students as per industry needs, furthering research in EV technology and charging. Additionally, it will offer training, organize seminars and workshops, across various forums to share knowledge and insights. By extending internship and job opportunities, Servotech creates a symbiotic relationship between education and industry innovation. The establishment of an EV charging station showcases real-world application and accessibility of EV charging infrastructure, bringing India closer to its dream of being an EV-powered nation.

Arun Handa, Chief Technical Officer, Servotech Power Systems, expressed, “By leveraging the expertise of Servotech and the academic excellence of the Lloyd Institute, the R&D centre will become a catalyst for ground breaking technological advancements in the rapidly evolving field of EVs. We look forward to creating a collaborative ecosystem that benefits students, faculty, and industry professionals alike. The R&D centre equipped with cutting-edge facilities is all set to support advanced research projects, testing, and development of EV charging technologies. As the demand for electric vehicles surges globally, the centre is set to play a pivotal role in shaping the future of sustainable mobility, empowering individuals with the expertise needed to drive impactful change in the automotive landscape”

Manohar Thairani, President, Lloyd Institute of Engineering and Technology commented “This MoU represents Industry-Academia collaboration to skill the fresh talent in the area of EV. LIET focuses on skill-based education and has established centres in emerging areas such as EV, Li-ion Batteries, and Drone technology. This collaboration with Servotech Power Systems will give real exposure and develop an understanding of the students of the Institute and the nearby region in the EV sector. Additionally, the centre will act as a hub to cater to the multiple needs of e-mobility along with extending the trained manpower required for Aviation and other Industries. Overall, this step will bring our country closer to its dream of being an EV-powered and mission Viksit Bharat”.

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