Corporate Feature     

Published: July 15, 2023
Updated: July 15, 2023

Servotech Power Systems

Riding yen for e-charging points

Servotech Power Systems Ltd. (SPSL), a manufacturer of EV chargers and solar products, has fixed 28th July, 2023, as the record date for ascertaining the entitlement of shareholders of the company for the purpose of a stock split. The company had earlier announced that the stock split would be in the ratio of 2:1; i.e., every equity share having a face value of Rs 2 will be split (subdivided) into two equity shares of a face value of Re 1 each (fully paid up).

Further, the company successfully implemented SAP S4 HANA Grow, an advanced enterprise resource planning (ERP) solution, in remarkable record time. SAP S4 HANA Grow empowers businesses to transform their operations and gain real-time insights for informed decision-making.

Founder and MD of Servotech Power Systems, Raman Bhatia, stated that the implementation enables the company to leverage real-time analytics, streamline operations and enhance customer experiences. With SAP S4 Grow, Servotech has equipped itself with a robust ERP solution that revolutionises business processes and paves the way for accelerated growth.

Dr Rajesh M. Rai, CHRO of Servotech, emphasised that the implementation of SAP S4 HANA Grow marks the beginning of a new era in maintaining the company’s competitive edge and achieving its desired goals in the medium term.

K.P.M.G. KUDOS

Ritesh Sagar and Amit Goyal, partners at KPMG India, highlighted that having worked on numerous SAP implementations, SPSL’s achievement stands out as truly exceptional. This implementation is KPMG’s fastest ERP implementation to date, going live with SAP in just 10 weeks. The dedication and commitment of the Servotech team, combined with the joint expertise of KPMG, has resulted in a record-breaking implementation that sets a new industry standard.

Earlier, Servotech had entered into a partnership with Dubai-based Al Ansari Motors to provide electric vehicle (EV) charging solutions to the Middle Eastern and African markets.

The two entities have signed a sole distributorship agreement, which would see Al Ansari bring Servotech’s EV charging capabilities to the potential electric vehicle-adopting segment in the mentioned markets, Servotech Power said. Al Ansari Motors LLC is involved in motor vehicles and accessories trading, it added.

Raman Bhatia said, “The Middle East and Africa present a huge untapped market potential and a sea of potential electric vehicle users. Each charging point installed under the pact will be accessible to all electric four-wheelers.”

The partnership aims to create an EV charging infrastructure while offering a path for future developments with cutting-edge technology and faster charging speeds.