Servotech Power Systems Secures Major Order for EV Chargers

Servotech Power Systems Ltd, a leading EV Charger manufacturer in India, has been awarded a significant contract worth Rs 120 crore by Bharat Petroleum Corporation Limited (BPCL) for the supply of 1,800 DC Fast EV chargers. This development highlights the growing importance of EV charging infrastructure in the country.

Under this project, Servotech will manufacture, supply, install, and strategically deploy the 1800 EV chargers across the nation, particularly at BPCL petrol pumps in major cities. The initiative, known as the BPCL E-drive Project, aims to promote the adoption of electric vehicles by establishing e-mobility touchpoints and improving accessibility to charging infrastructure.

The project includes two charger variants, 60 kW and 120 kW, and is expected to be completed by the end of 2024. By contributing to the nation’s evolving EV ecosystem, Servotech Power Systems is playing a crucial role in advancing India’s ambitious goals in the electric mobility sector.

This collaboration between Servotech Power Systems and BPCL is not the first. The companies had previously worked together to transform the e-mobility landscape. In addition to the current project, Servotech has already completed 36% of the supply and installation of 2,649 AC EV chargers for BPCL’s E-drive project.

Sarika Bhatia, Director of Servotech Power Systems Ltd, expressed pride in the partnership’s efforts to establish an inclusive EV charging network nationwide. With the deployment of state-of-the-art DC Fast EV Chargers, Servotech Power Systems is actively contributing to India’s transition to a cleaner and more sustainable transportation landscape.

Servotech’s proactive efforts in the EV charging space have positioned the company as a leading player in the industry. As of January 2024, the company has already deployed 4,000 EV chargers across the country. This strategic collaboration with BPCL marks a significant milestone in the development of a robust charging infrastructure, which is critical for high-capacity and rapid EV charging.

Founded in 1998, Servotech Power Systems has established itself as a reliable manufacturer of LED lighting solutions, UPS systems, inverters, and batteries. With a market capitalization exceeding Rs 1,835 crore, the company has demonstrated a strong financial performance, with a 17% Return on Equity (ROE) and an 18% Return on Capital Employed (ROCE).

Investors should take note of Servotech Power Systems’ remarkable growth in recent years. From Rs 1.87 per share to Rs 86.30 per share, the company’s stock has delivered multibagger returns of 4,500% in just three years. As the demand for EV chargers continues to rise, Servotech is well-positioned to capitalize on the growing market.

It is important to note that this article is for informational purposes only and not investment advice.

Frequently Asked Questions (FAQ)

Q: What is the contract awarded to Servotech Power Systems by Bharat Petroleum Corporation Limited (BPCL)?
A: Servotech Power Systems has been awarded a contract worth Rs 120 crore by BPCL for the supply of 1,800 DC Fast EV chargers.

Q: Where will the EV chargers be installed?
A: The chargers will be strategically deployed across the nation, particularly at BPCL petrol pumps in major cities.

Q: What is the objective of the BPCL E-drive Project?
A: The BPCL E-drive Project aims to promote the adoption of electric vehicles by establishing e-mobility touchpoints and improving accessibility to charging infrastructure.

Q: What are the charger variants included in the project?
A: The project includes two charger variants: 60 kW and 120 kW.

Q: When is the project expected to be completed?
A: The project is expected to be completed by the end of 2024.

Q: Has Servotech Power Systems worked with BPCL before?
A: Yes, Servotech Power Systems has previously worked with BPCL to transform the e-mobility landscape.

Q: How many AC EV chargers has Servotech already completed for BPCL’s E-drive project?
A: Servotech has already completed 36% of the supply and installation of 2,649 AC EV chargers for BPCL’s E-drive project.

Q: What is Sarika Bhatia’s role in Servotech Power Systems?
A: Sarika Bhatia is the Director of Servotech Power Systems Ltd.

Q: How many EV chargers has Servotech Power Systems deployed across the country?
A: As of January 2024, Servotech Power Systems has deployed 4,000 EV chargers across the country.

Q: What other products does Servotech Power Systems manufacture?
A: In addition to EV chargers, Servotech Power Systems manufactures LED lighting solutions, UPS systems, inverters, and batteries.

Key Terms and Jargon

– EV: Stands for Electric Vehicle, a vehicle powered by an electric motor instead of an internal combustion engine.
– DC Fast EV chargers: Charging stations that provide direct current (DC) fast charging for electric vehicles, enabling rapid charging.
– BPCL: Bharat Petroleum Corporation Limited, an Indian oil and gas company.
– E-drive project: BPCL’s initiative to promote the adoption of electric vehicles and improve charging infrastructure.
– ROE: Stands for Return on Equity, a financial metric that measures the profitability of a company in relation to the shareholders’ equity.
– ROCE: Stands for Return on Capital Employed, a financial metric that measures the profitability of a company in relation to its total capital employed.

Suggested Related Links

Servotech Power Systems Ltd – Official website of Servotech Power Systems Ltd, the leading EV Charger manufacturer in India mentioned in the article.
Bharat Petroleum Corporation Limited – Official website of Bharat Petroleum Corporation Limited (BPCL), the company that awarded the contract to Servotech Power Systems.
BPCL Retail – Official website of BPCL Retail, the retail arm of Bharat Petroleum Corporation Limited, which operates petrol pumps across India.