Rs 1,000 crore order book and FIIs & DIIs increase stake: This multibagger small-cap company completes 160 MW Ground-mounted Solar project in Gujarat

The stock gave multibagger returns of 190 per cent in just 1 year and a whopping 3,900 per cent in 3 years.

Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a leader in the fields of solar power engineering, procurement, and construction (EPC) services, along with electric mobility, is proud to announce the successful completion of a 160 MW solar installation in Bhavnagar, Gujarat valued at Rs 128 crore for Continuum Green Energy, a key player in the renewable energy sector serving commercial and industrial consumers across India. This achievement highlights Gensol's expertise in delivering high-quality ground-mounted solar projects efficiently.

Gensol has a distinguished track record of over 600 MW in diverse solar projects, including rooftop, ground-mounted, and floating installations across India. These projects have been completed for a wide range of clients, including commercial, industrial, and public sector units, under both turnkey and balance-of-system arrangements. The Continuum Green Energy 160 MW installation marks Gensol's sixth major ground-mount project, alongside ground-mount solar projects in the states of Karnataka, Haryana, Gujarat, and Jharkhand.

The Bhavnagar project underscores Gensol's full-service capabilities in the development, operation, and management of large-scale solar projects. Located in Gujarat, this project represents a significant step forward in the region's sustainable development and showcases the transformative impact of solar energy.

Gensol Engineering Ltd, a diversified clean energy company offering solar EPC, electric vehicle manufacturing and leasing services, has significantly expanded its operations. They acquired nearly all shares of Gensol Clean Energy, a new subsidiary focused on renewable energy generation using solar and wind and secured a major 70 MW portion of a battery storage project from Gujarat Urja Vikas Nigam Limited. This project marks their entry into the battery storage market and strengthens their position in clean energy solutions. Additionally, Gensol Electric Vehicles, a subsidiary of Gensol Engineering, received approval for its new electric car to be manufactured in a new plant with a capacity of 30,000 cars per year. This, along with securing contracts for two solar power projects, demonstrates their commitment to clean energy and positions them as a key player in India's transition to a sustainable future.

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 2,900 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. The stock gave multibagger returns of 190 per cent in just 1 year and a whopping 3,900 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.