Good News: This multibagger renewable energy company has recorded 449 per cent growth in H1FY23 revenues!

Year-to-date, the stock is up by 1,095.55 per cent and over the last three months, it has furnished returns of 125.75 per cent

On Monday, the shares of Gensol Engineering locked at 5 per cent upper circuit to record an intraday high of Rs 1,424.50 per share on BSE. The scrip has more than doubled in less than three months. Year-to-date, the stock is up by 1,095.55 per cent and over the last three months, it has furnished returns of 125.75 per cent.  

During H1FY23, Gensol Engineering has reached the important revenue milestone of Rs 180 crore, registering a robust 449 per cent growth in comparison to Rs 32.81 crore reported in the same period last year. 

To quote from the press release filed by the company with the exchange, "During the second quarter, revenues for Gensol continued their forward march on the back of its unflagging quest for excellence, customer delight and strong collaboration with the vendors and continued strong focus on the quality of services. The company is inclined to believe that the solid results illustrate the ongoing positive momentum in this business and remains optimistic about the remaining period of this fiscal." 

The company continues to grow its national footprint while concurrently increasing its project sizes, which is a testament to its sharpening project delivery skills. 

The company's Board of Directors at their recent meeting considered and approved the allotment of 12.81 lakh equity shares of face value of Rs 10 each, at an issue price of Rs 1,036.25 per equity share.

Gensol Engineering Ltd is engaged in the business of solar consulting & EPC. The company's services include solar advisory, solar EPC, solar O&M along with solar monitoring & analysis. It also provides dedicated consultancy services for extra-high voltage (EHV) transmission lines.   

Watch out for this trending multi-bagger stock in the coming trading sessions.