2:1 bonus share in FY24 & Rs 1,783 crore order book: This multibagger solar EPC stock hit upper circuit as company reports a 168 per cent jump in PAT

The stock gave multibagger returns of 160 per cent in just 1 year and a whopping 5,200 per cent in 3 years.

Today, shares of Gensol Engineering Ltd hit a 5 per cent upper circuit to Rs 1,059.60 per share from its previous closing of Rs 1,009.15 per share. The stock is down by 23 per cent from its 52-week high of Rs 1,377.10  per share while it gave multibagger returns of 240 per cent from its 52-week low of Rs 311.69 per share. The shares of the company saw a spurt in volume by more than 1.26 times on BSE.

Established in 2012, Gensol Engineering Limited, a part of the Gensol group, provides engineering, procurement, and construction (EPC) services for solar power plants globally. The company tackles international turnkey projects and has a proven track record exceeding 770 MW of installed solar capacity across ground-mounted and rooftop installations. Gensol is committed to sustainability and is revolutionizing the Indian EV industry by not only setting up a cutting-edge manufacturing facility for electric three-wheelers and four-wheelers in Pune, but also offering comprehensive leasing solutions for a variety of customer segments including passenger, fleet, and cargo needs. Their B2B clientele spans PSUs, institutions, government bodies, multinational corporations, ride-hailing companies, employee transportation service providers, rental companies, logistics firms, and last-mile delivery companies.

According to Quarterly Results, the net sales increased by 147 per cent to Rs 412 crore, EBITDA increased by 188 per cent to Rs 92 crore and profit after tax increased by 168 per cent to Rs 20 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 147 per cent to Rs 996 crore, EBITDA increased by 218 per cent to Rs 260 crore and profit after tax increased by 129 per cent to Rs 53 crore in FY24 compared to FY23.

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Gensol's Business Segments performed well in FY24. In the Solar segment, Gensol won its first Battery Energy Storage System project from GUVNL with a revenue contribution of Rs 450 crore over 12 years, a large 50 MWp C&I order from SEML and its largest ever 100 MW turnkey EPC order from a leading power generation utility in Maharashtra. The strategic acquisition of Scorpius Trackers expanded the product offering with over 1,000 MW in contracted orders and Gensol established a Solar EPC subsidiary in the Middle East. In the EV Leasing segment, a new subsidiary Gensol EV Lease Pvt. Ltd. was incorporated and branded as "Let'sEV" with Amit Kumar as CEO. The business expanded its reach to 18 cities and 8 major OEMs. In the EV Manufacturing segment, Gensol launched its electric vehicle which is "Made in India" at its Chakan, Pune facility with a production capacity of 30,000 vehicles per annum and got ARAI certified in February 2024.

The company has a market cap of over Rs 3,900 crore and as of March 31, 2024, the order book stood at Rs 1,783 crore: Rs 1,448 crore from the solar segment and Rs 335 crore from the leasing segment. The shares of the company ex-traded bonus shares in the ratio 2:1 on October 17, 2023. The stock gave multibagger returns of 160 per cent in just 1 year and a whopping 5,200 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.