2800 per cent returns: This multibagger small-cap stock reports stellar results; hits 5 per cent upper circuit in Friday’s session!

The company holds firm in its belief that its favourable performance trajectory will persist through the forthcoming periods

On Monday, shares of Gensol Engineering zoomed and got locked at 5 per cent upper circuit to trade at an intraday high of Rs 1830.35 apiece on BSE. The scrip witnessed massive spurt in volume by more than 1.8 times.

In the first quarter of fiscal year 2024, impressive financial strides were evident as the company reported a noteworthy upswing in key metrics. Notably, the revenue figure surged to Rs 151.7 crore, marking an impressive 47 per cent increase compared to the Rs 102.9 crore reported in the same period of the prior fiscal year, Q1FY23.

 Demonstrating robust operational performance, the EBITDA for Q1FY24 soared to Rs 43.7 crore, showcasing a remarkable surge of 179 per cent in contrast to the Rs 15.7 crore recorded in Q1FY23. This surge translated into an elevated EBITDA margin of 28.8 per cent, displaying a substantial expansion of 1,362 basis points (bps) from the 15.2 per cent margin seen in Q1FY23. Furthermore, the Profit After Tax (PAT) for Q1FY24 came in at Rs 10.2 crore, demonstrating a 2 per cent increase from the Rs 10 crore reported in Q1FY23.

Gensol finds itself strategically positioned and fully prepared to seize the burgeoning opportunities arising from India's escalating need for renewable energy and electric mobility in its ambitious pursuit of achieving climate neutrality by 2070. The company's robust backlog of orders coupled with a promising pipeline of projects serve as a solid testament to Gensol's established status as a dependable ally and catalyst in the creation of top-tier solar assets.

The company holds firm in its belief that its favourable performance trajectory will persist through the forthcoming periods, driven by ongoing investments in enhancing capabilities and the extension of its global reach. Notably, Gensol's recent inclusion on the main board of the National Stock Exchange (NSE) stands as a resounding affirmation of its unwavering commitment to transparency, expansion, and the generation of value for its valued stakeholders across all dimensions.

Gensol Engineering Ltd is primarily involved in solar consulting and EPC (Engineering, Procurement, and Construction) services. Their range of services includes solar advisory, solar EPC, solar O&M (Operation and Maintenance), as well as solar monitoring and analysis. They also provide specialized consultancy services for extra-high voltage (EHV) transmission lines.

The stock has witnessed significant buying activity as it has given multibagger returns of more than 2800 per cent in just 3 years. Keep a close eye on this trending multibagger stock.

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