Rs 1,000 crore order book and FIIs & DIIs increase stake: Board likely to raise funds via preferential issue; rockets 4,970 per cent in 3 years!

The stock gave multibagger returns of 200 per cent in just 1 year and a whopping 4,970 per cent in 3 years.

Today, one of the Top Gainers on BSE, shares of Gensol Engineering Ltd hit a 5 per cent upper circuit to Rs 954.15 per share from its previous closing of Rs 908.75 per share. The stock also made a fresh new 52-week high is Rs 954.15 per share while its 52-week low is Rs 265.42.

The company informed that the Board of Directors of the Company will be held on Tuesday, February 6, 2024, inter alia; to consider and approve the proposal of raising funds by way of preferential issue of securities to the person belonging to the promoter/promoter group/non-promoter group category, subject to such regulatory/statutory approvals as may be required and the approval of shareholders of the company.

In Q3 FY24, 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, with EBITDA jumping 312 per cent to Rs 70 crore. While the EBITDA margin remained steady at in 30.8 per cent, the company turned a net loss of Rs 2 crore in Q3 FY23 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, EBITDA more than quadrupled to Rs 169 crore, EBITDA margin expanded to 28.9 per cent, and PAT more than doubled to Rs 34 crore, demonstrating strong growth across all business segments and improved operational efficiency.

Gensol secured a string of achievements in sustainability and clean energy: (1) winning India's first green hydrogen project, (2) bagging a repeat 33 MW solar power project worth Rs 138.72 crore, (3) landing a prestigious Rs 301.5 crore solar project in Maharashtra, (4) securing Rs 513 crore loan to finance 3,800 electric vehicles, (5) acquiring a solar panel tracking technology firm with 700 MW global reach, (6) establishing a Middle East subsidiary for overseas expansion, and (7) signing a Rs 2,000 crore MoU with Gujarat to boost EV manufacturing. These wins solidify Gensol's position as a key player in India's clean energy transition.

The company has a market cap of over Rs 3,600 crore and as of December 31, 2023, the company’s order book stands at over Rs 1,000 crore. As of December 2023, FIIs and DIIs increased their stake to 2.57 per cent and 0.84 per cent respectively while an ace investor, Mukul Agrawal holds a significant stake (1.51 per cent) in the company.

Gensol Engineering Limited provides renewable energy project development services. The Company constructs solar plants. Gensol Engineering serves customers in India. The company also manufactures electric vehicles. 

The shares of the company have an ROE of 21.4 per cent and an ROCE of 12.4 per cent. The stock gave multibagger returns of 200 per cent in just 1 year and a whopping 4,970 per cent in 3 years.

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