The shares of Servotech Renewable surged nearly 16 percent on June 3 despite the overall downturn in the market. This comes amid the India visit of Errol Musk, the firm's global advisor and father of world's richest person Elon Musk.
Errol Musk was appointed to the Global Advisory board of the NSE-listed smallcap company in May this year. "Under this landmark partnership, Musk will play a pivotal role in advancing Servotech's strategic vision for global growth, sustainability leadership, and AI-driven innovation. His appointment aligns with Servotech's ambitious "Vision 2027" goal to transform the renewable energy landscape across India and key international markets," the company had said while announcing his appointment.
Errol is currently on a five-day visit to India from June 1 to June 6.
Accelerating India's green revolution!Key Takeaways from Press Conference: @Errol_Musk_EM, Global Advisor to Servotech Renewable Power System Ltd., emphasizes India's potential to lead the global green revolution. He highlights Servotech's mission to drive innovation in green pic.twitter.com/9Qrvgy29SK
Servotech Renewable Power System Ltd (@servotech_ltd) June 2, 2025
Servotech Renewable, which provides EV charging solutions, solar panels and more, took to X to share pictures from Errol's visit. "We're thrilled to welcome Errol Musk as a member of our Global Advisory Board! His vast experience and passion for groundbreaking innovation will be invaluable in driving our mission to forge a greener, smarter future for India and beyond," the firm wrote on X.
Honoring Innovation! We're thrilled to welcome Errol Musk as a member of our Global Advisory Board! His vast experience and passion for groundbreaking innovation will be invaluable in driving our mission to forge a greener, smarter future for India and beyond. pic.twitter.com/09pYYdogdv Servotech Renewable Power System Ltd (@servotech_ltd) June 2, 2025
Speaking about India’s potential, Errol Musk told PTI, “India has made great strides in the green tech sector. The demand for this kind of charging and storing of electricity is going to grow at least 10-fold in the next five years. In terms of finance, it can grow from a $10 billion industry to a $150 billion industry within five years in India."
Speaking to PTI, tech billionaire Elon Musks father, Errol Musk, was asked about his views on Indias advances in green technology and EV charging infrastructure. Heres what he said:No, India has made great strides, is making great strides, and continues to do so. From the pic.twitter.com/VNnlKqsGND
Press Trust of India (@PTI_News) June 2, 2025
“I have been in talks with an Indian electrical engineering company to help them expand their electric vehicle charging station and transmission of electricity. It’s a very energetic company, and have some very interesting people,” Errol told CNBC-TV18.
The entrepreneur further said Sarvotech will likely work in 40 countries soon within the next five years. “India is a huge market full of very smart people. It is very obvious that the government is very keen to have virtually the whole of India shift to electric vehicles. So everything is positive as far as Indian side is concerned,” he added.
Servotech Renewable shares were trading at Rs 142 apiece in the afternoon. The stock has seen a significant surge in recent days, since Errol’s appointment to the board. The stock has jumped over 12 percent in the past one month. It however fell over 19 percent in the past six months. The stock is up 73 percent in 2025 so far.
Servotech Renewable on May 6 had reported a net profit of Rs 7.79 crore for the fourth quarter of the financial year 2025. This marked a whopping 127 percent jump from the Rs 3.42 crore net profit reported in the corresponding quarter of the financial year 2025. The firm’s revenue from operations had also risen to Rs 146 crore during Q4 FY25.
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