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Servotech Power Systems Ltd.

BSE: 535002 Sector: Engineering
NSE: SERVOTECH ISIN Code: INE782X01017
BSE 05:30 | 01 Jan Servotech Power Systems Ltd
NSE 12:49 | 19 May 72.50 -3.25
(-4.29%)
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Servotech Power Systems Ltd. (SERVOTECH) - Chairman Speech

Company chairman speech

"For every problem there is an answer. Empty your thoughts and allow the solutionto visit you."

We are going through unprecedented times. Dear Members the new normal dictates us toconnect virtually. Your support and confidence in us even in uncertain times like thesedrive us to look for more ways to do more and create greater value.

Servotech is leading manufacturer of LED lights and Solar Products and has suppliedproducts to our prestigious clients in India such as IOCL BPCL and several District StateAgencies managed by MNRE. During the current Covid-19 pandemic situation Servotech tookthe initiative and launched various UVC products which are used for sanitization ofhomes office hotels restaurants and industries to support entire human community incarrying out its economic activity in a safe manner.

Servotech is now introducing the UVC technology which can help us to fight against thevirus and save many lives during the current pandemic situation. UVC technology has a longproven history of killing viruses bacteria and pathogens present in the environment bydestroying their DNA within seconds without addition of chemicals and harmful sideeffects. By this we not only aim to introduce a complete sanitization solution to ourpeople but also at the same time to contribute towards the objective of "Make inIndia" movement by boycotting Chinese products. Further our Indian manufactured UVCproducts are capable of competing in international market making us self-reliant andhelping us to become the main stream Indian disinfectant manufacturer

This application of using far UV-C light for disinfection provides an important measureto prevent the rapid spread of Covid-19 infection by thorough disinfection in India. Themethod is already being used widely in European countries in hospitals and other publicplaces. The far UV-C sanitization concept is new in India to be used for large scalesanitization. Hence the objective of this project is to manufacture create awareness andoffer capacity building that will have a high positive impact in the current situation.

In our continuous endeavor to contribute to the society we are immensely focusing onthe UVC products. Your Company has recently joined hands with the German Government topromote Vocal for Local. The project aims at combating COVID 19 virus through improveddisinfection measures using Far-UVC technology. The proposed partnership project costingapprox. 1 Milion Euros.

Not only this your Company has launched variety of UVC products that have differentutilities to carter the immediate needs of domestic Indian market. The UV-Disinfectionproducts are capable of sterilizing every surface with powerful UVC light & kills upto 99% of surface germs and bacteria including the Coronavirus strain (COVID-19). Thisinexpensive highly efficient and absolutely reliable technology has been used for yearsby hospitals airports offices etc. to keep their surroundings disinfected.

Your Company over the years had been manufacturing vide range of environment friendlyproducts namely LED tube light street light flood light canopy light panel lights baylights yard lights and solar products such as home lights solar street lights solarpower plant/panel solar pumping system and lithium batteries. Further keeping in viewthe need of the hour the Company is now introducing UV-C Disinfectant Lamps.

Through our determination we seized every opportunity and it helped us steer in anever-changing landscape. This has made us resilient and responsive to the ever-changingmarket dynamics. I am glad to share that today we have become reliable and one of theleading manufacturers of LED and UVC products.

Your support and confidence in us even in uncertain times like these drive us to lookfor more ways to do more and create greater value.

We are blessed to work with a talented pool of people across all the departments. Theircommitment and dedication through the thick and thin of the organizational journey isappreciation worthy. We have consistently worked on improving their skills through regulartraining and workshops. Besides we have also worked on the leadership building andoverall motivational levels of all our employees.

In the closing note I would like to acknowledge the role of our Board Members and theManagement team for consistently delivering mentoring the team and demonstratingresilience. I also thank all our employees bankers communities business partnerssuppliers and above all our loyal shareholders for their unwavering trust. I amconfident that by working closely together we will continue to deliver a solidperformance and reliable growth for Servotech in your to come.

Thanking you

With Warm Regards

Raman Bhatia

Managing Director

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