Servotech Power Systems Limited has informed the Exchange about Investor Presentation
1st November, 2023
To, National Stock Exchange of India Limited Exchange Plaza, NSE Building, Bandra Kurla Complex, Bandra East, Mumbai-400051
Trading Symbol: SERVOTECH
Sub.: Presentation on the Un-audited Financial Results of the Company for the quarter ended
30th September, 2023
Dear Sir/Madam,
In accordance with the provisions of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Presentation on the Un-audited Financial Results of the Company for the quarter ended 30th September, 2023.
Please consider the aforesaid as relevant disclosure required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) read with all other applicable provisions of Listing Regulations.
The Investor Presentation is also available on the website of the Company i.e. www.servotech.in.
Kindly take the above information on record and oblige.
Thanking You,
FOR SERVOTECH POWER SYSTEMS LIMITED
RAMAN BHATIA MANAGING DIRECTOR DIN: 00153827
Servotech Power Systems Limited
REGISTERED OFFICE: 806, 8th Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085
CIN : L31200DL2004PLC129379
PLANT AND R&D :76A ,Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028 Tel No : 011-41183117,• Sales: +91 9717691800,• Email : servotech@servotechindia.com , •Website: www.servotech.in
RAMAN BHATIADigitally signed by RAMAN BHATIA Date: 2023.11.01 09:36:01 +05'30' s mart power solutions
Q2 & H1 FY24 Investor Presentation
Safe Harbour
Certain statements in this document may be forward-looking statements.
Such
forward-looking statements are subject
to
certain risks and
uncertainties like
government actions,
local, political, or
economic
developments,
technological
risks, and many other factors that could
cause our actual results to differ materially from those contemplated by the
relevant forward-looking statements. Servotech Power Systems Ltd. will not
be in any way responsible for any action taken based on such statements
and undertakes no obligation to publicly update these forward-looking
statements to reflect subsequent events or circumstances.
Mission & Vision
Mission Statement
To design sustainable and tech-enabled solutions for achieving optimal
utility and product performance
To bring substantial value and satisfaction to clients, stakeholders &
customers with long-term growth insight
Vision Statement
“To create and introduce a series of world-class solutions to mitigate the
impact of energy consumption on climate, to achieve the net- zero
emissions ambition and eliminate the reliance and dependence on fossil
fuels for our future generations.”
Leadership at the Helm
Mr. Raman Bhatia, Managing Director & Founder Aged 47, he is a graduate in commerce from University of Delhi and has a diploma in electronics. He is a businessman with over 25 years of rich experience. His efforts and vision to offer essential benefits to maximum people has led to materialization of brands such as Saara and Servcontrol to market Solar Products, LED Lights, and UV- C disinfection products.
Mrs. Sarika Bhatia, Whole Time Director Aged 43 Years, she has done her graduation in arts from university of Delhi specializing in marketing and has done sales & marketing course from NSIC Delhi. She is a businesswoman having rich experience of more than 17 years and has been heading marketing department of the Company.
Dr. Rajesh Mohan Rai, Director & CHRO Is renowned HR Strategist, Business Coach with more than 25 years of rich and varied experience. as Director at HR Anexi, Director- Human Resources at Nivio Technologies Pvt. Ltd, Regional Head (South) - HR at Aviva Life Insurance Co.Ltd., Head of Recruitment & HR (RGE & Services) at Microsoft Corporation, etc. He has been awarded with numerous awards primarily being John Mattone Certified Executive Coach (Initial Mastery).
Mr. Anupam Gupta, Independent Director Aged 70, he has managed strategic growth and diversification in different company at very senior position like: Tecumseh,LML Scooters, Hero Cycle, JBM Bharat ,Sanden Vikas and many more . He has a significant experience of international collaboration and joint ventures, operations, new ventures and start-ups, business development. His plethora of specialties include: Strategic Planning, Diversification, Joint Venture & Technical Agreement negotiations, Project Management, Organisational Transformation, Visual Management and more.
Mr. Sampat Rai, Independent Director He has had an extensive corporate career spanning over 40 years, beginning with his time at HCL. Later he held key positions such as Regional Manager, Superphone India Pvt Ltd. and Marketing Manager, Bharti Group. He has helped foreign multinationals and medium-sized companies from Canada, USA, Germany and Portugal to successfully enter markets in India, Sri Lanka, Bangladesh, Nepal and Burma.
Mr.Meenakshisundaram Kolandaivel Independent Director Ex GM (Punjab National Bank):Banking Professional with a long corporate career of over 35 years having experience in credit operations/risk management specialization and exposure in corporate and branch banking.
Mr. Vikas Bhatia CFO He has vast experience in project management, developing brand strategy, and combating strategies achieving remarkable targets countering negative market scenarios.
Ms. Rupinder Kaur Company Secretary Ms. Kaur is a Qualified company secretary and a law graduate. She has work experience of 8 years in the field of secretarial and compliance management.
Journey
2004
We came up with leading-edge Sine-Wave inverters for domestic use.
2009
Considering the growing advent of technology, we came up with LED lighting solutions for both industrial and domestic application.
2014
A range of products exclusively dedicated to facilitate LED solar lighting solutions made the scene.
2019
2021
2023
Launched ServPort a standard plug-n-play grid interactive rooftop PV system. Servotech is amongst the exclusive providers of this technology in India, to be mass produced for residential applications (UPS and AC load).
In view of the narrowing availability of oxygen concentrators, Servotech launched Oxygen concentrator designed especially with the aim of catering to the demands of auxiliary oxygen to the patients in need.
Servotech Power Systems Limited made it to the Main Board (Capital Market Segment)
Launched Solar powered EV Charger Carport
Divested its subsidiary, in which SPSL held 63.5% equity stake, Techbec Global Solutions Pvt. Ltd. and incorporated a new subsidiary “Techbec Green Energy Pvt. Ltd.” on 27th July, 2023
Entered into a Strategic Partnership with EMCOR Power Solutions to Revolutionize EV Charging Infrastructure in India
2004
2005
2009
2010
2014
2017
2019
2020
2021
2022
2023
2005
2010
2017
2020
2022
We leveled up by launching digital and Sine-Wave inverters for industrial application.
Following a series of ground-breaking innovations we introduced two product ranges, the Solar Street lights and Solar-Hybrid Inverters
Servotech went public, and listed on the National Stock Exchange, trading with the ticker SERVOTECH.
With the outbreak of the Coronavirus, we came up with a UV-C Disinfection product segment exclusively dedicated to providing seamless sanitization of areas and accessories to the common people.
Forayed into the EV market to establish EV charging tech infrastructure pan India
Setup Techbec, a subsidiary committed to manufacturing Li-Ion Batteries
Product Categories
Solar Solutions
EV Chargers
Power & Backup
LED
Servo Stabilizers
Solar PCU Solar Panels Solar Servport Solar EPC Solar Battery
AC & DC Fast Chargers For every type of EV Vehicles :for all type of 2 wheelers, Cars,Buses & trucks & It’s approved by TATA and MG for their vehicles
An important part of an electrical supply system which prevents damages and electrical hazards by controlling voltage fluctuations
LED lights produce light around 90% more efficiently than incandescent light bulbs.
An important part of an electrical supply system which prevents damages and electrical hazards by controlling voltage fluctuations
- - - - - - - - - - - - - - - SERt/GTEC Solar Solutions
SE/l'/iitrEC
_....,.
Solar Panels • Off Grid Inverter • On Grid Inverter • Tubular Battery • Street Lights • Charge Controller
EV Chargers - AC & DC Range
3.3kW
7kW
10kW
11kW
14kW
22kW
20kW
30kW
60kW
120/240kW
360kW
Leading Solar EPC & Solutions
Servotech Power Systems LTD. is the leading solar EPC Company in India, with over 18 years of experience in the solar industry. We provide complete solar solutions for solar power projects, including engineering, procurement, construction, and commissioning.
Residential Solar Solutions India is on the verge of a solar revolution, and Servotech has been at the vanguard, spearheading the transition to sustainable energy solutions. Rooftop solutions at home provide significant cost reductions while also safeguarding the environment as you contribute to the planet by reducing its carbon footprint. To save money and monetize your roofs, get your own solar rooftop for your home with Servotech.
Commercial Solar Solutions With government and global scrutiny towards industrial contribution to growing carbon emissions tightening, switching to an extensive solar solution has become an imperative for industrial and commercial players. With commercial rooftop solar panels growing in popularity in India, Servotech has the technology, manpower, and demonstrated experience to assist you in establishing commercial rooftop solar power plants to meet your needs.
Our Contribution in Solar Energy
We have Installed more than 15 MW of Solar Power Plants in various Petroleum Refineries. We have Solarised more than 100,000 homes in different states by installing Solar Home lighting Systems.
Shivalik Project Micro Grid Solar Power System Installed at Shivalik Grid in Delhi
Rooftop Solar Project IOCL (Haldia & Panipat Refinery)
Akshardham Project India's First Portable Rooftop Solar Systems Installed at Akshardham Gandhi Nagar
Kandla-Gorakhpur LPG Pipeline Solarizing a total of 158 sites on the country's longest LPG pipeline - spanning 2,757 Kms - from Kandla Port, Gujrat to Gorakhpur, Uttar Pradesh
UPNEDA Offgrid Solar Project at UP govt. offices
Akshardham Project India's First Portable Rooftop Solar Systems Installed at Akshardham Gandhi Nagar
Rooftop Solar Project BPCL (Mahol Refinery)
Our Contribution in EV Charging
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Leveraging our Strengths
Long standing relationship with Petroleum Companies, PSUs, State Nodal Agencies
Diversified product portfolio with presence in more than 21 states of India
High-end advanced Solar Products and EV Charger Range
Professional from top institutes of India leading our state-of- the-art R&D centers
1 3
2 4
5
Commissioned and accomplished 100+ Major Solar PSU projects in various sectors
Growth Drivers
Governments subsidies and policies to promote local manufacturing of EV Components and sustainable energy resources
Rising urbanization and awareness of climatic change have led to increase in demand
for cost-efficient products
Healthy traction in order pipeline in addition to a sizable order backlog
Increasing demand for EV charging stations
Local manufacturing boost in Solar & EV industry
Increase in carbon footprint has increased the demand for renewable energy
Scaling New Horizon
01
05
02
04
03
Servotech and Al-Ansari Motors LLC, UAE inks pact to provide EV Charging Stations in Middle Eastern and African market
Servotech with NSEFI to develop Solar-powered EV charging Carport
Signed two MOUs with IIT Roorkee to develop state- of-the-art rectifier units for CCS2 chargers and Onboard EV chargers for 2, 3 and 4 Wheelers
Signed a MoU with the Government of Uttar Pradesh to establish an EV Charger manufacturing facility in the state
Entered into a Strategic Partnership with EMCOR Power Solutions to Revolutionize EV Charging Infrastructure in India
Corporate Updates
Implementation of SAP S/4 HANA Software
SPSL Achieved Record-Breaking SAP S/4HANA Implementation Time, Acknowledged by KPMG’s Experts
SAP S4 HANA Grow is a cutting-edge enterprise resource planning (ERP) solution that empowers businesses to transform their operations and gain real-time insights for informed This SPSL's reinforces implementation commitment to driving digital innovation in the company to remain ahead of competition.
decision-making.
SPSL filed Two Patents titled “System and Method for Controlling Load Shifting by Third Party” and “System and Method for Effective Energy Channelization for Energy Management Technologies
from a Renewable Energy Source”
SPSL has filed these patents with an aim to facilitate grid service optimization through a battery energy storage system (BESS) and to effectively channel renewable energy into BESS for maximum value, enabling the transition to sustainable energy
SPSL divested its subsidiary, in which it held 63.5% equity stake, Techbec Global Solutions Pvt. Ltd. and incorporated a new subsidiary “Techbec Green Energy Pvt. Ltd.” on 27th July, 2023.
selling
Techbec Green Energy is engaged in the operations of manufacturing, trading, distribution, indenting, and acting as essential components for Electric Vehicle (EV) Chargers like Power modules, CCS 2 guns, Type 2 guns, Connectors, Control Cards, and PLC Modules along with Lithium-ion Batteries
purchasing
agents
and
of
Stock Split
Board approved a stock split in the ratio of 1:2, the record date set for the stock split is 28th July 2023
Industry Overview
SOLAR INDUSTRY
1. India ranks 4th in solar power installed capacity.
2. The solar power market share in India is expected to increase by $240.42 Bn from 2021 to 2026, at a CAGR of 35.24%.
3. Solar installations in India has exhibited a remarkable compound annual growth rate (CAGR) of 29%
4. India currently boasts a solar installed capacity of 57 GW
5. GOI has set an ambitious target of achieving 280 GW of solar capacity by 2030, representing a fivefold increase in solar installed capacity over the next seven years. This is the world's largest expansion plan in renewable energy.
Target Solar Capacity for 2030 to result in huge market expansion (Capacity numbers in GW)
817
140
280
61
292
44
2030
Wind
Solar
Hydro
399
40
57
47
Thermal
236
Others
22
2022
Source: Central Electricity Authority
EV SALES PENETRATION:
Industry Overview
EV CHARGERS
1. As of July, 2023, as many as 8,738 public EV charging stations are operational in India.
2. Govt. allocate subsidies of INR 800 Cr to set up 22,000 fast chargers at various fuel pumps across India
3. The government has sanctioned 2,877 such charging stations across 68 cities in 25 states and UTs.
4. In addition, 1,576 charging stations on nine expressways and 16 highways have also been sanctioned.
5. Projections indicate that fast-charging stations will witness a CAGR of over 40% by 2025.
Servotech is Contributing in Indian EV Charging Infrastructure
Servotech is Creating Green Corridor for Greener India with help of Oil Marketing Companies
New Product Developments - EV Charging Components
AC DC Modules
Charging Cables CCS2 & Type 2
Control Card
Backward Integration
New Product Developments
Solar Powered EV Charger CARPORT
Empowering EVs with Sustainable Solar energy- Powered Charging Solutions
Key Financial Snapshots
Net Sales
8,000.00
6,000.00
4,000.00
2,000.00
0.00
70.9%
10,000.00
115.2%
₹6,879.03
₹4,024.64
8,000.00
6,000.00
4,000.00
2,000.00
0.00
₹8,659.09
₹4,023.96
Q2 FY23
Q2 FY24
Q2 FY23
Q2 FY24
Standalone
Consolidated
Value in Lac’s
Key Financial Snapshots
Gross Profit
103.2%
18.8% 21%
15.8%
₹1,290.9
₹635.18
1,400.00
1,200.00
1,000.00
800.00
600.00
400.00
200.00
0.00
106.4%
15.1%
225%
15.8%
₹635.44
₹1,311.3
1,400.00
1,200.00
1,000.00
800.00
600.00
400.00
200.00
0.00
Q2 FY23
Q2 FY24
Q2 FY23
Q2 FY24
Standalone
Consolidated
Value in Lac’s
Key Financial Snapshots
EBITDA
140.0%
8.6%
₹590.1
6.1%
₹ 245.9
600.00
500.00
400.00
300.00
200.00
100.00
0.00
148.2%
6.9%
₹597.0
6.0%
₹240.5
600.00
500.00
400.00
300.00
200.00
100.00
0.00
Q2 FY23
Q2 FY24
Q2 FY23
Q2 FY24
Standalone
Consolidated
Value in Lac’s
Key Financial Snapshots
Profit After Tax
4.4%
₹300.9
266.6%
2.0%
₹82.1
600.00
500.00
400.00
300.00
200.00
100.00
0.00
3.6%
₹312.4
300.3%
1.9%
₹78.0
600.00
500.00
400.00
300.00
200.00
100.00
0.00
Q2 FY23
Q2 FY24
Q2 FY23
Q2 FY24
Standalone
Consolidated
Key Financial Snapshots
250.0%
₹0.04
₹0.14
0.14
0.12
0.1
0.08
0.06
0.04
0.02
0
EPS
0.14
0.12
0.1
0.08
0.06
0.04
0.02
0
275.0%
₹0.04
₹0.15
Q2 FY23
Q2 FY24
Q2 FY23
Q2 FY24
Standalone
Consolidated
Consolidated Income Statement
Particulars (₹ in Lakhs)
Q2 FY24 Q2 FY23 YoY% Q1 FY24 H1 FY24 H1 FY23 YoY%
Consolidated Financial Performance Comparison – Q2 FY24 v/s Q2 FY23
Revenue from operations
8,592.94
4,016.07 113.9% 7,956.62
16,549.57 7,219.94 129.2%
●
Other income
Total revenue
Total Expenses excluding Depreciation, Amortization & Finance Cost
66.15
7.89
24.73
90.88
10.54
8,659.09
4,023.96 115.2% 7,981.35
16,640.44 7,230.48 130.1%
8,062.08
3,783.46
7,268.46
15,330.52 6,851.62
EBITDA
597.01
240.50 148.2%
712.89
1,309.92
378.86 245.8%
EBITDA Margin %
6.89%
5.98%
8.93%
7.87% 5.24%
Depreciation & Amortization
Finance Cost
72.55
107.49
73.41
62.78
70.86
92.88
143.41
116.01
200.37
111.01
PBT before exceptional items
416.99
104.30
549.14
966.14
151.83
Exceptional Items
PBT
Tax Expense
PAT
0.00
0.00
416.99
104.30
104.59
26.26
0.00
549.14
138.18
0.00
0.00
966.14
151.83
242.77
38.23
312.41
78.04 300.3%
410.96
723.37
113.60 536.8%
PAT Margin %
3.60%
1.94%
5.15%
4.35% 1.57%
Other comprehensive income
Net PAT
Diluted EPS
0.85
313.26
₹0.15
0.54
78.58
₹0.04
0.00
0.85
0.54
410.96
724.22
114.14
₹0.19
₹0.34
₹0.06
●
●
Our revenue increased by 115.2% to ₹8,659.09 lakhs in Q2 FY24, compared to ₹4,023.96 lakhs in Q2 FY23. This growth was primarily on account of the following : In the EV division, we witnessed strong demand for our EV chargers due to the rapid uptake and increased demand of electric vehicles and the increasing need for improved EV infrastructure
In the Solar division, we continued to gain traction for our products driven by increasing focus on adopting sustainable energy for energy needs
EBITDA exhibited tremendous growth of 148.2% to ₹597.01 lakhs in Q2 FY24 from ₹240.50 lakhs in Q2 FY23, with margin expansion of 91 basis points, led by higher share of products having superior margins.
PAT for Q2 FY24 stood at ₹312.41 lakhs, up from ₹78.04 lakhs in Q2 FY23, with margins increasing to 3.60% from 1.94% in the corresponding period.
Balance Sheet
Particulars (₹ in Lakhs)
30th Sep’23 31th Mar’23
Particulars (₹ in Lakhs)
30th Sep’23 31th Mar’23
PP&E
Other Intangible Assets
Capital Work In Progress
Assets under Development
Investment Property
Investments
Other Financial Assets
Deferred Tax Assets (net)
Other-Non Current Assets
Trade Receivables
Non-Current Assets
Inventories
Trade Receivables
Cash & Cash Equivalents
Other bank balances
Other Financial Assets
Other Current Assets
Current Assets
Total Assets
Assets
Equity & Liabilities
1,827.04
1,979.53
Equity Share Capital
58.15
0.00
13.99
15.63
2.03
49.00
326.93
218.93
Other Equity
Shareholders Fund
2,126.54
2,126.54
6,805.57
6,090.68
8,932.11
8,217.22
1,315.07
79.12
378.74
13.60
751.88
126.90
69.04
7.38
0.00
0.05
Borrowings
Other Non-Current Liabilities
20.96
Provisions
1,140.05
Trade Payables
0.00
0.00
22.55
899.82
589.20
440.92
Non-Current Liabilities
1,786.53
955.19
3,737.68
3,867.11
1,587.43
2,085.66
8,901.97
8,556.07
Borrowings
32.59
1,194.93
Trade Payables
1,006.75
0.00
430.31
92.02
Other Financial Liabilities
Other Current liabilities
1,905.14
448.16
Provisions
13,433.89
12,807.15
Current Liabilities
17,171.57
16,674.26
Total Equity and Liabilities
3,419.49
2,275.14
0.00
497.78
260.52
3,478.50
2,350.31
447.98
821.05
404.02
6,452.93
7,501.86
17,171.57
16,674.26
Management Comments on the Performance
Commenting on the performance of Q2 FY24, Mr. Raman Bhatia, the Managing Director of Servotech Power Systems Limited (SPSL) stated:
“We are elated to share our substantial contribution in promoting a more eco-friendly and sustainable future. Presently, we hold a significant market share in the EV charging sector, with ~3,600 chargers supplied across India in H1 FY24. Additionally, our recently signed MoU with the Uttar Pradesh government, entailing an initial investment of ~₹300 Crs, will enable us to establish an indigenous manufacturing facility capable of producing 10,000 EV DC chargers for the domestic and export market. This endeavor will foster a remarkable ecosystem for EV charging across the country.
Beyond our EV offerings, our solar products have garnered attention in the market. Centered on sustainable and renewable energy, we have effectively established more than 15 MW of solar power plants throughout India, distinguished by qualities such as easy installation, cost-efficiency, and dependability.
We are also happy to share that our recent strategic partnership with EMCOR Power Solutions to manufacture and install 30kW, 60kW, and even more powerful DC fast EV chargers across India will aid in accelerating nationwide adoption of EV. Additionally, our objective extends beyond merely advancing EV charging infrastructure development; we are dedicated to establishing a prominent market presence and asserting leadership within the industry. To realize this ambition, we are prioritizing the expansion of our production capacity and the broadening of our product portfolio, which will position SPSL as the premier provider of EV chargers to OEMs. This strategic endeavor will enable us to effectively address the burgeoning demand in the EV market by delivering state-of-the-art charging solutions, ultimately cementing our position as the industry frontrunner in OEM service.
Our commitment to providing customer-centric solutions in the sustainable energy space remains steadfast. As we look ahead, we recognize substantial growth potential in the markets we serve, as evidenced by our robust order pipeline.”
Business and Financial Outlook
EV CHARGER BUSINESS PLANS A new EV plant with a manufacturing capacity of 6 lacs EV Chargers per year
To scale up the revenue from ₹240 Crs to ~₹1,200 Crs by 2025
Vision: To become 1 of top 3 EV Charger manufacturing company in India
LITHIUM BATTERY
SOLAR MICRO INVERTERS
SOLAR HYBRID INVERTERS
ON BOARD CHARGERS
Focus on scaling up the Lithium Battery Plant capacity from 50 MWh to 500MWh
To scale up the revenue from ₹85 Crs to ~₹850 Crs by 2027
To enhance and emphasize on In House Production of Solar Micro Inverters
To prioritize and strengthen the in-house manufacturing of solar hybrid inverters
We're gearing up to become a key OEM player in the on- board EV charger manufacturing industry
Media Coverages
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Levera ging Emerging T echnolo gies t o Create Intelligent EV C harging Battery M anagement Systems
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Exhibitions - India and Abroad
Servotech signs MoU with Uttar Pradesh Govt to Manufacture DC fast chargers
Servotech showcases its EV DC chargers range at EVIS 30 May 2023
Convergence Smart City Expo 2023
India Solar & EV Expo 2023 Lucknow
Auto Expo Motor Show 2023
REI Expo 2023
EV Expo 2023
Recognitions
E·Vehicle Expo If}@-~ MARCH 2023
Servotech Price graph
Capital Market
CMP (As on 31st October 2023)
₹78.45
NSE Symbol
SERVOTECH
Market Cap
₹1,667.21Cr
52 Weeks High/Low
₹100.00
52 Weeks Low
₹12.55
Shareholding Pattern as of 30th Sep, 2023
Promoter Group
Public
FPI
Total
60.60%
29.98%
9.42%
100.00%
Sourced from NSE
Our Manufacturing Plants
Existing: UNIT-1
Coming Soon: UNIT-2
Thank You
Ms. Rupinder Kaur Company Secretary Servotech Power Systems Limited
Investor Relations Advisor Krunal Shah/Naman Maheshwari Captive IR Strategic Advisors Pvt. Ltd
011-41183116 investor.relations@servotechindia.com
+91 9372467194 krunal@cap-ir.com naman@cap-ir.com