Multibagger stock Servotech Power Systems' board to consider stock split on May 25
Servotech Power Systems Ltd, an NSE-listed company and one of the leading manufacturers of LED lights, solar panels and UVC disinfection products.
Servotech Power Systems Ltd, an NSE-listed company and one of the leading manufacturers of LED lights, solar panels and UVC disinfection products, has announced that the Board of Directors will meet on May 25 to approve the sub-division (split) of face value of equity shares of the company. The current face value of each share is ₹2.
This would be the second split, if approved, within a year. Earlier in February 2023, the company had split the face value from ₹10 to ₹2.
The company is also likely to nominate appointment of Meenakshisundaram Kolandaivel as the non-executive independent director of the company.
Servotech Power Systems is a smallcap company with a market valuation of ₹900 crore. The company in Q4FY23 reported a 363 per cent jump in net profit at ₹6.05 crore. Its revenue from operations stood at ₹115.3 crore in the quarter. Other income surged to ₹4.67 crore.
Servotech Power Systems also manufactures and distributes of EV charging solutions, solar products and medical devices.
Raman Bhatia, MD, said that the company witnessed robust growth during financial year 2023, led by launch of innovative tech-enabled solutions in the EV and solar space.
"Our advanced EV charging solutions offer fast and reliable service, while prioritizing safety, gained 25 per cent market share," he said.
ServoTech Power Systems is a New Delhi-based company. Its shares finished at ₹84.70, up by 5 per cent on Thursday. The counter has rallied 194 per cent in the last six months, whereas the stock has surged 465 per cent in the last one year. Even in the last one month, the stock is up by more than 47 per cent.
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