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Business News/ Markets / Stock Markets/  Multibagger small-cap stock with 227% return in 1 year posts multifold rise in Q4 net profit: Do you own?
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Multibagger small-cap stock with 227% return in 1 year posts multifold rise in Q4 net profit: Do you own?

Servotech Power Systems, an NSE-listed company with a history spanning more than two decades, has reported multifold rise in net profit in the quarter ended March 31, 2023.

Servotech Power Systems shares have yielded multibagger return to its investors. The stock has zoomed a whopping 227 per cent in the last one year. (MINT_PRINT)Premium
Servotech Power Systems shares have yielded multibagger return to its investors. The stock has zoomed a whopping 227 per cent in the last one year. (MINT_PRINT)

Servotech Power Systems, an NSE-listed company with a history spanning more than two decades, has reported multifold rise in net profit in the quarter ended March 31, 2023. The company's net profit stood at 6.4 crore during the fourth quarter, an increase of 3.5 times year-on-year basis. Sequentially, the company's profit appreciated almost 65 per cent from 3.4 crore.

The company's total revenue during the reporting quarter came in at 11 crore, an increase from 5.5 crore YoY and. The revenue during the December quarter of FY23 stood at 8.7 crore.

For the full FY23, Servotech Power Systems' profit more than doubled from FY23. The company clocked a profit of 11.5 crore during the financial year 2022-23. The same was 4.7 per cent in FY22.

Servotech Power Systems is one of India's top producers and suppliers of solar, EV chargers, LED, UVC, and medical-grade products. This small-cap company has a market valuation of 590 crore.

In the quarter ended December 2022 or Q3FY23, the Delhi-based company had declared an interim dividend of 0.20 per equity share. Besides, the company's board had also announced the sub-division of shares in a 5:1 ratio.

The corporation had fixed February 3, 2023 as the record date for the two corporate actions. As a result, the stock turns ex-split and ex-dividend on the same day, due to the T+1 settlement.

Servotech Power Systems shares have yielded multibagger returns to its investors. The stock has zoomed a whopping 227 per cent in the last one year. YTD, the counter has rallied more than 71 per cent.

The firm has expanded its channel distribution network across the country over the last few years. The company reached the milestone of providing more than 1500 EV chargers in December 2022. Also, the company has expanded into the international business market and developed ComPort, a solar performance monitoring device.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 08 May 2023, 02:08 PM IST
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