Earlier, the company inked a pact with the Chamber of Indian Micro, Small & Medium Enterprises (CIMSME) to boost the adoption of solar energy across India.
Mumbai: Shares of Servotech Renewable Power System are in action today, amid reports that Errol Musk is expected to visit the manufacturing facility of the company in June. The reports come days after the EV charger maker announced the appointment of the entrepreneur and global business strategist to its Global Advisory Board. The counter opened in the green at Rs 127 against the previous close of Rs 125.10 on the NSE. It surged further to trade at the level of Rs 130.84 – a gain of 4.58 per cent.
The 52-week high of the stock is Rs 205.40 and the 52-week low is Rs 75.50. The market cap of the company is Rs 2,897.03.
As part of his engagement, Musk will engage with key government and investor groups through curated roundtable sessions.
Q4 Profit
Earlier, the company announced its financial results for the fourth quarter of the FY25. According to the information shared, the company’s consolidated net profit rose 127.11 per cent to Rs 7.79 crore in the March quarter, driven by higher revenues. It was Rs 3.43 crore in the same quarter a year ago.
The company’s revenues increased 8 per cent to Rs 147.46 crore in the fourth quarter from Rs 136.65 crore in the same period last fiscal.
For the entire FY25, total revenue increased by 91 per cent to Rs 676.80 crore from Rs 355.26 crore in FY24. The company’s revenue from operations increased 7.42 per cent to Rs 146.28 crore in the quarter under review as against Rs 136.17 crore in the March quarter a year ago.
Earlier, the company inked a pact with the Chamber of Indian Micro, Small & Medium Enterprises (CIMSME) to boost the adoption of solar energy across India.
Under the PM Surya Ghar Muft Bijli Yojana, they aim to install 100,000 solar rooftop systems in homes by 2026, a statement said.
A key component of this initiative is the launch of a dedicated, user-friendly mobile application, developed by CIMSME in collaboration with Servotech.
