This renewable energy multibagger stock has reported 465 per cent jump in H1FY23 net profit! Do you own it?

Over H1FY23, the company has accomplished major engineering milestone to commence the EV manufacturing plant. 

On Monday, the shares of Gensol Engineering rallied 4.38 to record an intraday high of Rs 1,677 per share on BSE. The scrip has more than doubled in less than three months. Year-to-date, the stock is up by 1,294.13 per cent and over the last six months, it has furnished returns of 421.13 per cent.   

Financial highlights of the company's H1FY23 results are as follows: 

• Revenue for H1FY23 at Rs 182.8 crore, up by 437 per cent YoY from Rs 34.1 crore in H1FY22. 
• EBITDA for H1FY23 at Rs 26.6 crore, up by 548 per cent YoY from Rs 4.1 crore in H1FY22. 
• EBITDA margin for H1FY23 at 14.6 per cent, up by 290 basis points YoY from 11.7 per cent in H1FY22. 
• Profit after tax for H1FY23 at Rs 13.1 crore, up by 465 per cent YoY from Rs 2.3 crore in H1FY22 

Operational highlights of the company's H1FY23 results are as follows:

• Received orders for building solar power projects of 68.75 MWp cumulative capacity. 
• Received orders worth Rs 664.5 crore in hands for development of solar power projects of 130 MWp capacity. 
• Signed a term sheet to pick up majority stake in a US-based electric vehicle manufacturing startup. 
• Accomplished major engineering milestone to commence the EV manufacturing plant. 

To quote, Anmol Singh Jaggi, Managing Director, Gensol Engineering from a filing with the exchange, “The emerging vertical of electric mobility is scaling fast in both the leasing vertical and with the manufacturing unit under construction. On the renewable energy division, given that solar is the cheapest form of energy, we are seeing several corporates opting for large scale renewable energy plants under both captive and open access. Overall, business outlook looks promising and we are confident that future would be emblazoned with positive performance.” 

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 multi-bagger stock in the coming trading sessions.