Promoter bought 15,25,000 shares and FIIs bought 28,00,000 shares of this multibagger EV & solar EPC company with Rs 1,000 crore order book; scrip hit 52-week high!

The stock gave multibagger returns of 245 per cent in just 1 year and a whopping 6,000 per cent in 3 years.

Today, the Indian benchmark indices started the day in green with the BSE Sensex Index up by 0.28 per cent and the NSE Nifty-50 Index up by 0.33 per cent. On the broader market, the BSE Mid-Cap Index is up by 0.55 per cent and the BSE Small-Cap Index is up by 0.82 per cent.

Along with the market in green, one of the Top Gainers on BSE, shares of Gensol Engineering Ltd rocketed 9.97 per cent to Rs 1,147 per share from its previous closing of Rs 1,043 per share. The stock also made a fresh new 52-week high is Rs 1,147 per share while its 52-week low is Rs 265.42.

Gensol Engineering Limited (BSE: 542851) (NSE: GENSOL), a leading renewable energy and electric mobility pioneer, today raised a significant Rs 900 crore equity capital through warrants convertible into equity shares on a preferential basis. This major milestone comes at a juncture when Gensol is on an exceptional growth trajectory and is leading the green energy and clean mobility revolution.

Gensol has achieved significant advancements in Solar EPC, EV Leasing, and EV Manufacturing sectors. The company’s dedication to innovation and environmental stewardship drives its continued progress, aiming for a 5X growth within the next three years.

In the preferential issue allocation, Promoter (JASMINDER KAUR) was allocated 15,25,000 shares and FIIs (Tano Investment Opportunities Fund, Intuitive Alpha Investment Fund PCC, Aries Opportunities Fund Limited, Elara India Opportunities Fund Limited and Coeus Global Opportunities Fund) were allocated 28,00,000 shares. There were various other FIIs, FPIs and public shareholders who were allocated the remaining 60,09,059 shares.

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, 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 4,300 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.

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 245 per cent in just 1 year and a whopping 6,000 per cent in 3 years.

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