Rs 1,000 crore order book and FIIs & DIIs increase stake: This multibagger small-cap stock in green as it bags new orders worth Rs 337,70,00,000 from Maharashtra & Rajasthan
The stock gave multibagger returns of 300 per cent in just 1 year and a whopping 5,500 per cent in 3 years.
Gensol Engineering Limited announced that the company has been awarded two significant EPC contracts, underscoring its commitment to India's renewable energy sector. The first, a 250 MWac/350 MWdc ISTS solar power project in Rajasthan, showcases Gensol's emerging leadership in the industry and its support for India's sustainable energy transition. Additionally, the 50MWac/72.5MWdc solar power project in Maharashtra marks another step in our journey to becoming a dominant player in the solar energy domain.
These projects, valued at Rs 337,70,00,000 (including taxes), which represent a significant milestone in Gensol's growth and strategic market position. The contracts encompass design, engineering, procurement, construction, and commissioning services, with modules as free-issue items, highlighting Gensol's expertise and commitment to the renewable energy industry.
Today, the stock market started the day in the red with the BSE Sensex Index down 0.20 per cent and the NSE Nifty-50 Index down 0.18 per cent. Though the market was in red, shares of Gensol Engineering Limited gained 3.84 per cent to Rs 1,264 per share from its previous closing of Rs 1,217.25. The stock’s 52-week high is Rs 1,377.10 while its 52-week low is Rs 265.20.
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Earlier, Clean energy leaders Gensol and Matrix secured permission to build a 63 MW green hydrogen factory in India, marking a significant step towards the country's ambitious goal of producing 5 million tons of clean fuel by 2030. This aligns with Gensol's Rs 900 crore equity raise, fuelling their exceptional growth in Solar EPC, EV Leasing, and EV Manufacturing sectors, and their commitment to achieving a 5X growth while driving the green energy and clean mobility revolution. Both the factory and the funding boost position Gensol and Matrix as key players in India's clean energy 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 4,700 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 300 per cent in just 1 year and a whopping 5,500 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.
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