2,500 per cent returns in this multibagger stock: Board likely to announce bonus shares; scrip hit upper circuit!

The stock gave multibagger returns of 2,500 per cent in just 2 years whereas BSE Sensex Index is up by 12,65 per cent.

Gensol Engineering Limited informed that a meeting of the Board of Directors of the company will be held on Tuesday, September 05, 2023, inter-alia;

(i) To issue bonus shares.

(ii) To consider and approve the Board’s report for the financial year 2022-23.

(iii) To appoint M/s. R J & Associates as Cost Auditor for the purpose of cost audit for the financial year 2023 – 2024.

(iv) To consider and approve the notice of the 11th Annual General Meeting (AGM).

(v) Any other matter with the permission of the chair.

Earlier, the company announced its maiden two turnkey international solar engineering, procurement, and construction (Solar EPC) projects in Dubai with Dubai Government Workshop Warehouse and Dubai Police. Aggregating to a capacity of 14.08 MWp, these projects have a cumulative order value of Rs 101.6 crore, without taking taxes into account.

Gensol Engineering Limited provides renewable energy project development services. The company constructs solar plants. Gensol Engineering serves customers in India. The company had a market cap of Rs 2,238 crore. The shares of the company have an ROE of 54.7 per cent and a ROCE of 46.3 per cent.

The company reported positive numbers in its half-yearly results and annual results. The net sales increased by 66.22 per cent to Rs 210.77 crore and net profit increased by 32.61 per cent to Rs 11.67 crore in H2FY23 over H2FY22. The net sales increased by 144.78 per cent to Rs 392.65 crore and net profit increased by 122.93 per cent to Rs 24.79 crore in FY23 over FY22.

On Thursday, shares of Gensol Engineering Ltd surged 5 per cent upper circuit to Rs 1,831.60 per share from its previous closing of Rs 1,744.40 with a spurt in volume by more than 2.03 times on BSE.

The stock gave multibagger returns of 2,500 per cent in just 2 years whereas BSE Sensex Index is up by 12,65 per cent. Investors should keep an eye on this Small-Cap stock.

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