Multibagger Update: This renewable energy stock secured orders worth Rs 531 crore!

It is worth noting that more than 23 per cent are repeat orders from the existing clients, which is emblematic of the trust that the company has built with its clients through its delivery of high-quality solar assets. 

On Monday, the shares of Gensol Engineering rallied 4.80 per cent during the early market hours to record an intraday high of Rs 1,608.95 per share on BSE. The scrip has more than doubled in less than two months. Year-to-date, the stock is up by 1,250 per cent and over the last three months, it has furnished returns of 240 per cent.  

The company recently informed the exchange that it has till September 18, 2022, in the normal course of business, closed orders from various reputed clients for the development of solar power projects worth over Rs 531 crore (exclusive of taxes), aggregating to a capacity of over 121 MWp.  

To quote from the press release filed by the company with the exchange, "Piquantly, more than 37 per cent of these orders envisage the development of projects in the southern states of Andhra Pradesh, Karnataka, Telangana, and Tamil Nadu, closely followed by Gujarat at 34 per cent. Similarly, 67 per cent of the total order book needs to be developed over land while the balance will be raised over the rooftops of the factories of the clients. While the largest size of the project is over 25 MWp, the lowest size is around 80 kWp." 

It is worth noting that more than 23 per cent are repeat orders from the existing clients, which is emblematic of the trust that the company has built with its clients through its delivery of high-quality solar assets. 

Some of the major additions to the company’s esteemed client list are Singareni Collieries Company Limited (SCCL), a coal mining company jointly owned by the Government of Telangana and the Government of India, Braithwaite & Co. Limited (BCL), a leading engineering company under the Ministry of Railways and a privately-owned leading manufacturer & supplier of industrial gases, among others. 

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 multibagger-pick