Servotech Renewable Power Systems has established Servotech Foundation, a wholly-owned, not-for-profit subsidiary. This entity will spearhead the company’s Corporate Social Responsibility initiatives, focusing on education, employability, environmental sustainability, and community welfare, reinforcing Servotech’s commitment to broader societal impact alongside its EV charging business.
Servotech Renewable Power Systems Establishes CSR Arm:
Servotech Renewable Power Systems Ltd. has announced the incorporation of its wholly-owned subsidiary, Servotech Foundation. Registered as a Section 8 not-for-profit company, the foundation has an authorized and paid-up share capital of ₹1,00,000. This new entity is designed to serve as the dedicated Corporate Social Responsibility (CSR) arm for the parent company.
Mission and Objectives:
These would constitute the core areas of the foundation, comprising education, employability, entrepreneurship, and environmental sustainability. Accordingly, Servotech Foundation shall plan and implement initiatives in health, nutrition, and sustainable development in line with Schedule VII of the Companies Act, 2013. Although this is considered a related-party transaction, its main objective is to streamline and enhance the social responsibility of Servotech toward ensuring long-term community welfare.
Company Background and Performance:
Servotech Renewable Power Systems, earlier named Servotech Power Systems Ltd, is one of the most prominent players in the emerging market for advanced EV charging solutions in the Indian market. This company, listed on NSE, has applied more than two decades of experience in the domain of electronics in designing and developing a whole series of charging solutions that are either AC or DC. Its market capitalization stands above ₹1,400 crore, making the stock performance remarkably fruitful for investors, as the stock has appreciated from ₹2.08 to ₹65.21, reflecting a staggering growth of more than 3,000 percent in five years.
