Servotech share price: Experts give 'buy' tag to solar, EV stock after Q4 results 2024
Servotech share price: Despite the challenging market conditions, 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.
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. 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.
Read more on livemint.com
