Rs 1,000 crore order book and FIIs & DIIs increase stake: This multibagger stock records highest ever revenue of Rs 960 crore in FY24; growth of 141 per cent YoY

The stock gave multibagger returns of 152 per cent in just 1 year and a whopping 4,940 per cent in 3 years.

Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a leading player in the renewable energy sector specialising in solar power engineering, procurement, and construction (EPC) services and electric mobility solutions, recorded its highest-ever revenue from operations, surpassing Rs 960 crore (provisional and unaudited) in the financial year ending on March 31, 2024. This remarkable achievement represents an extraordinary growth rate of 141 per cent compared to the previous financial year. The corresponding figure for the previous year was Rs 398 crore. Gensol's exceptional performance emphasises its position as a frontrunner in the industry and demonstrates its ability to capitalise on emerging opportunities.

Gensol’s key performance highlights are as follows:

*The figures may change subject to the final audit and are rounded off.

Upon achieving this notable revenue in FY24, Mr. Anmol Singh Jaggi, Chairman and Managing Director, of Gensol Engineering Ltd said, “This financial performance of the company reflects robust and commendable growth trajectory exceeding the guidance given in our last earnings conference call in January 2024. This achievement solidifies our status as a frontrunner in the renewable energy industry, emphasising our unwavering commitment to growth. I thank all the shareholders, customers and the Gensol family for their continued support that is vital to our success, and we remain dedicated to delivering value and sustainable growth.”

Earlier, Scorpius Trackers, a subsidiary of Gensol Engineering, a leading solar company in India, has surpassed 1000 MW of contracted orders for their solar tracking technology across the globe, solidifying their position in the industry. Their trackers use advanced features to maximize solar power generation and their parent company, Gensol Engineering, has recently secured a massive 100 MW solar plant project in Maharashtra, along with other successful projects, bringing their total completed projects in India to over 600 MW.

Today, shares of Gensol Engineering Limited hit a 5 per cent upper circuit to Rs 948.95 per share from its previous closing of Rs 903.80 with an intraday high of Rs 948.95 and an intraday low of Rs 932. The stock’s 52-week high is Rs 1,377.10 and its 52-week low of Rs 311.69.

About Gensol Engineering Ltd

Gensol Engineering, founded in 2012, is a leading solar EPC company with over 600 MW of installed solar power globally. They've recently expanded beyond solar with a state-of-the-art EV manufacturing facility in Pune, India, producing three- and four-wheeled electric vehicles with ARAI approval. Gensol aims to revolutionize India's EV landscape by not only manufacturing vehicles but also offering leasing solutions to various clients, and further strengthened their renewable energy focus by acquiring Scorpius Trackers, a bankable solar tracking technology company.

The company has a market cap of over Rs 3,500 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 152 per cent in just 1 year and a whopping 4,940 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.