Multibagger stock rallies 200% in 6 months, Board declares stock split, dividend

Market


With a market worth of Rs. 386.92 Cr., Servotech Power Systems Ltd. is a small-cap company that engages in the electric equipment industry. Servotech is a top producer of solar products, medical equipment, and solutions for energy.

On Saturday, the company said in a stock exchange filing that “The Board of Directors of Servotech Power Systems Limited (“Company”), upon recommendation of its sub-Committees, at its meeting held on 21st January, 2023 have inter-alia considered, approved Declaration of Interim Dividend of Re. 0.20/- per equity share of the Company for the Financial Year 2022-2023. It may also be noted that the amount of Interim dividend shall be credited in the respective bank accounts of eligible shareholders on or around Saturday, 18th February, 2023.”

Further, Friday, 3rd February, 2023 has been fixed as the record date for payment of interim dividend and sub-division of 1 equity share of face value Rs. 10/- each into 5 equity shares of face value of Rs. 2/- each.

In Q3FY23, the company reported net sales of 83.27 Cr on a consolidated basis compared to 41.41 Cr reported in the year-ago quarter, up by 101% YoY. The company reported a consolidated net profit of 3.87 Cr in Q3FY23, compared to 1.07 Cr reported in Q3FY22, representing a YoY growth of 261%. Servotech Power Systems EPS has grown to 1,82 per share in the quarter ended December 2022 compared to 0.58 reported in the quarter ended December 2021.

On Friday, the shares of Servotech Power Systems Ltd closed on the NSE at 181.95 apiece level, up by 2.77% from the previous close of 177.05. The stock recorded a total volume of 104,723 shares compared to the 20-Day average volume of 22,148 shares. The company got listed on 02-Sep-2021 on the stock exchanges and since then it has rallied 622.02% so far from its IPO. The stock has appreciated 75.88% over the past year, and YTD, it has climbed by 12.38%. The stock has seen a multibagger return of 209.97% over the past six months and has climbed by 26.27% during the past month.

Based on the technical outlook of the stock, “Servotech System has a market cap of Rs. 400 crore and is trading near its 52 week, with a face value of 10, EPS 1.88, positive income growth, EBITDA stable and improving profit margins. On technical setup, the stock has shown a strong move and delivered an 88 per cent return over the period of 1 year. The momentum indicators are suggesting the counter may touch the levels of 200 in the near term,” said Manoj Dalmia, Director, Proficient Equities.


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