Servotech's focus remains on shaping a more sustainable future and it is steadfastly
advancing its global presence & actively contributing to a more environmentally
conscious tomorrow by reinforcing the nation's journey towards a transformative era of
electric mobility.
Raman Bhatia
Founder & MD, Servotech Power Systems Limited
Dear Members
Welcome to our 19th Annual General Meeting. I extend gratitude on behalf of Servotech's
Board of Directors for your presence today. Your presence here is a testimony to your
interest and support to the Company.
A gist about the company and its journey
Reflecting on our journey, Servotech commenced its path 18 years ago with a sole
offering, "Sine-wave inverters." Since then, we have expanded into diverse
domains such as EV Charging and Solar Solutions. Our unwavering belief in sustainable and
green energy drives our progress.
We reinforce our growth through strategic collaborations and global reach, including
our partnership with a UAE-based company. Further we have consistently upheld our
dedication to shareholders by regularly declaring dividends. Additionally, we are
delighted to share the news of the sanctioned Employee Stock Option Scheme (ESOP),
designed to link the hard work of our devoted employees with the collective achievements
we attain. Shares were issued preferentially to expand globally, aiming to maximize
stakeholder value through enhanced resources and presence. We executed share splits,
making shares more accessible to potential investors, thereby enriching our shareholders
community.
Our efforts extend beyond merely promoting a shift to a low-carbon economy. We also
lead in energy storage, grid optimization, and electric mobility. Our robust partnerships
and substantial market share in EV charging, boasting over 2,700 deployed chargers
nationwide, exemplify our in uence.
Financial Overview
In the scal year 2022-23, the world witnessed turbulence, supply chain complexities,
and in ation, demanding coordinated reactions by central banks to manage in ation.
However, despite these hurdles, Servotech showcased strong and adaptable performance,
persistently driving innovation and expanding its horizons.
Coming to the performance of the company, During the F.Y. 2022-23 company's
consolidated revenue is 27,864.33 lakh compared to Rs. 14,425.25 lakh in last year, which
is an increase of 93.1% and company earned a profit of Rs. 1106.51 lakh during the
financial year 2022-23, as against Rs. 405.77 lakhs in last year, achieved an increase of
172.69% profit from last year. Notably, Servotech experienced impressive growth in EV
charger sales, achieving encouraging sales gures during this period.
Future Strategic Initiatives
Our emphasis continues to be on a more environmental friendly future, expanding our
global Presence, and strengthening India's electric revolution. Our goal is to reduce our
reliance on fossil Fuels, contributing to a sustainable tomorrow. As we set out on a
journey of boundless growth, we stand at the forefront of the sustainable energy
transformation, catalysed by the emergence of electric vehicles and environmentally
mindful power solutions.
In summary, Servotech's prospects for the future are incredibly bright. Backed by
ground-breaking technologies, a strong drive for innovation, strategic partnerships, and a
rm commitment to sustainability, the company is well-prepared to seize abundant
opportunities for substantial growth.
Finally, I want to express my heartfelt thanks to our Board, Management, employees,
partners, suppliers, and shareholders for their Unwavering trust. Together, we will
deliver strong performance and reliable growth for Servotech.
Thanking you, With Warm Regards,
Raman Bhatia
Managing Director