Servotech Renewable Power System Ltd has partnered with France-based Watt & Well SAS to develop, manufacture, and distribute EV charger components in India. As part of the collaboration, Servotech will produce EV power modules locally under the ‘Make in India’ initiative, while Watt & Well will contribute technical expertise. Additionally, Servotech will hold exclusive rights to market and sell these components across India.
The partnership will initially focus on creating a 30kW Power Module for the Indian EV charging market. Future plans include developing bidirectional power modules for vehicle-to-grid (V2G) applications.
Meanwhile, Servotech Renewable Power System Ltd saw a 5% rise in its stock price, reaching ₹127 per share during morning trade. This marks the second consecutive session of gains following the partnership announcement. Although the stock has faced challenges amid market volatility, the collaboration with Watt & Well is expected to strengthen Servotech’s position in India’s expanding EV infrastructure sector and support long-term growth in its renewable energy portfolio.
Servotech reported a significant increase in net profit, reaching ₹8 crore in the December quarter, compared to ₹1.11 crore in the same period last year. Total revenue surged fourfold to ₹216.83 crore from ₹52.20 crore, driven by strong growth in the EV and renewable energy segments.
Despite this gains, Servotech shares remain down nearly 30% since the start of 2025, reflecting a broader bearish sentiment in the market. As of 9:40 AM, the stock was trading at ₹123 on the NSE, up 1.3% from the previous close.
