Mukul Agrawal gains Rs 27,49,96,500 from this multibagger small-cap stock & FIIs bought 4,84,721 shares with Rs 1,000 crore order book – scrip hit 52-week high!
The stock gave multibagger returns of 320 per cent in just 1 year and a whopping 7,000 per cent in 3 years.
Today, the stock market ended the day in the green with the BSE Sensex Index up by 0.48 per cent and the NSE Nifty-50 Index up by 0.34 per cent. Along with the market in the green, shares of Gensol Engineering Limited gained 7.90 per cent to a fresh new 52-week high of Rs 1,377.10 per share from its previous closing of Rs 1,276.4. At the closing bell, shares of the company were trading at Rs 1,331.10 per share, up 4.29 per cent.
Gensol Engineering Ltd and Matrix, clean energy companies, won permission to build a factory for green hydrogen technology in India. This is a big step for India's plan to make clean hydrogen fuel and will help the country reduce its reliance on fossil fuels. The factory will be able to make 63 MW of hydrogen per year, which is a big chunk of India's goal of making 5 million tons by 2030. This project shows that Gensol and Matrix are leaders in clean energy and will help India reach its climate goals.
Earlier, Gensol Engineering Limited, a company leading the green energy and clean mobility revolution, raised a significant Rs 900 crore equity capital through warrants convertible into equity shares on a preferential basis. This major milestone comes at a time when Gensol is on an exceptional growth trajectory and has achieved significant advancements in Solar EPC, EV Leasing, and EV Manufacturing sectors. The company's dedication to innovation and environmental stewardship drives its continued progress, aiming for a 5X growth within the next three years.
In the preferential issue allocation, Promoter (Jasminder Kaur) was allocated 15,25,000 shares and FIIs (Tano Investment Opportunities Fund, Intuitive Alpha Investment Fund PCC, Aries Opportunities Fund Limited, Elara India Opportunities Fund Limited and Coeus Global Opportunities Fund) were allocated 28,00,000 shares. The remaining 60,09,059 shares were allocated to various other FIIs, FPIs and public shareholders.
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In Q3FY24, the company's revenue surged 335 per cent to Rs 227 crore, driven by strong growth across all segments. This resulted in a significant improvement in profitability, as the company turned a net loss of Rs 2 crore in Q3FY23 into a net profit of Rs 12 crore in Q3 FY24, marking a per turnaround (734 per cent).
The company's performance for the first nine months of FY24 has been strong, with all key financial metrics showing significant growth compared to the same period in FY23. Revenue nearly tripled to Rs 584 crore, and PAT more than doubled to Rs 34 crore, demonstrating strong growth across all business segments and improved operational efficiency.
The company has a market cap of over Rs 5,000 crore and as of December 31, 2023, the company’s order book stands at over Rs 1,000 crore. As of December 2023, FIIs bought 4,84,721 shares and increased their stake to 2.94 per cent compared to 2.57 per cent in September 2023 while DIIs increased their stake to 0.84 per cent in December 2023 compared to 0.75 per cent in September 2023.
An ace investor, Mukul Agrawal owns 5,70,000 shares or 1.51 per cent stake in the company. On a year-to-date basis, the stock is up by 482.45 points or 56.85 per cent. Therefore, he gains Rs 27,49,96,500 (5,70,000 shares x Rs 482.45) post bonus issue of shares in the rati0 2:1 with ex-bonus date as October 17, 2023.
The stock gave multibagger returns of 320 per cent in just 1 year and a whopping 7,000 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.
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