- Servotech Power Systems Ltd announced its Q4 results 2024 on Thursday, showing a significant revenue growth of 13.89% in Q4 FY24 to ₹136.65 Cr & a growth of 27.49% in the year ended FY24 to ₹355.26 Cr on a YoY basis.
- The company’s profitability also increased, with PAT growing by 6.69% to ₹11.80 Cr in FY24. EBITDA rose by 18.05% to ₹22.36 Cr in FY24, reflecting its improved operational efficiency and ability to produce higher-value products.
- Despite the challenging market conditions, the stock is currently trading at around ₹80 apiece and experts predict a rebound in the solar stock once the sell-off pressure eases out on Dalal Street.
Servotech Power Systems Ltd reports impressive Q4 results for FY24, with significant revenue growth and increased profitability. Experts predict a rebound in the solar stock.
Impressive Q4 Results for Servotech Power Systems
Servotech Power Systems Ltd declared its Q4 results 2024 on Thursday, showcasing a remarkable revenue growth of 13.89% in Q4 FY24 to ₹136.65 Cr & a growth of 27.49% in the year ended FY24 to ₹355.26 Cr on a YoY basis. The company’s profitability also demonstrated its resilience, with PAT increasing by 6.69% to ₹11.80 Cr in FY24. EBITDA increased by 18.05% to ₹22.36 Cr in FY24, a testament to its increased operational efficiency and the ability to generate higher-value products.
Future Outlook for Servotech Share Price
The stock is currently trading at around ₹80 apiece and experts are expecting a bounce back in the solar stock once the sell-off pressure eases out on Dalal Street. They said that the company is expected to continue benefiting from the Government of India’s (GoI’s) focus on solar and other renewable energy initiatives. They noted that the stock has a crucial support placed at ₹65 apiece levels whereas it is facing immediate hurdle at ₹97 apiece. On breaching this immediate hurdle, Servotech share price may touch the ₹110 per share mark in the medium term.
Triggers for Servotech Share Price
Analysing the Q4 results 2024 of Servotech Power Systems, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, ‘The company has not only managed to report positive quarterly numbers, but it also holds a strategic position in the market that may lead to continued positive growth in upcoming quarters. The company is expected to benefit significantly from the GoI’s special focus on alternate energy sources. The company has recently managed to secure orders from various energy PSUs, and this trend is expected to grow further in upcoming quarters. However, it is a portfolio stock, and there can be a strong bounce back in the scrip after the Lok Sabha elections results. So, any dip in the stock should be seen as a buying opportunity.”
Conclusion
Despite challenging market conditions, Servotech Power Systems Ltd has reported impressive Q4 results for FY24, demonstrating its resilience and operational efficiency. The company is expected to continue benefiting from the GoI’s focus on solar and other renewable energy initiatives, and experts predict a rebound in the solar stock in the near future.
