Share price of Servotech Renewable Power System rises 5% on partnership with Watt & Well

In a major step towards strengthening India's electric vehicle (EV) infrastructure, Servotech Renewable Power System Ltd has formed a strategic alliance with France-based Watt & Well SAS. This collaboration aims to design, manufacture, and distribute EV charger components within the Indian market.

Market Performance

Servotech Renewable Power System's stock has faced challenges, declining nearly 30% since the beginning of the year. However, the recent partnership news has provided positive momentum, with shares rising by 5% to ₹127 during morning trade on February 20, 2025. This marks the company's second consecutive session of gains.

Servotech & Watt & Well Partner for 30kW EV Power Module

The agreement between Servotech and Watt & Well focuses on developing a 30kW power module tailored for India's EV charging needs. This initiative aligns with the 'Make in India' mission, as Servotech will handle domestic manufacturing while Watt & Well offers technical expertise. Plans include exploring bidirectional power modules to support vehicle-to-grid (V2G) applications, enhancing the versatility and efficiency of EV charging infrastructure.

Financial Performance

In the third quarter of the fiscal year 2024-2025, Servotech reported a substantial increase in net profit, reaching nearly ₹ 8crore, a significant rise from ₹1.11 crore in the same period the previous year. This surge was driven by a fourfold increase in total revenue, which escalated to ₹216.83 crore from ₹52.20 crore year-over-year. Despite a corresponding rise in expenses to ₹204 crore from ₹50.34 crore, the company's financial health remains robust, reflecting its strategic growth initiatives and market demand.

Summary

Servotech Renewable Power System's partnership with Watt & Well SAS marks a pivotal advancement in India's EV charging landscape. By combining domestic manufacturing capabilities with international technical expertise, this collaboration is poised to accelerate the country's adoption of electric vehicles. The positive market response and Servotech's strong financial performance underscore the potential impact of this alliance on India's sustainable transportation future.