Rs 5,025 crore order book & Promoters bought 53,945 shares: Solar EPC company order worth Rs. 40 Crore from a leading textile company for their rooftop solar project!
The stock gave multibagger returns of 110 per cent in just 2 years and a whopping 5,500 per cent in 3 years.
Today, shares of Gensol Engineering Ltd surged 1.60 per cent to Rs 958.45 per share from its previous closing of Rs 943.50 per share. The stock’s 52-week high is Rs 1,377.10 per share while the stock is up by 75 per cent from its 52-week low of Rs 547.55 per share.
Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a leading player in the renewable energy sector specializing in solar engineering, procurement, and construction (EPC) and electric mobility solutions, has received the Letter of Award (LOA) for execution of 16 MWp turnkey EPC rooftop solar project worth Rs 40 crore under commercial and industrial (C&I) segment from a leading textile company. This is a repeat order for Gensol, which will be installed in Madhya Pradesh and Gensol will commission the project in six months.
The project will utilize high-efficiency Bi-facial solar modules, strategically chosen to maximize energy output and ensure long-term durability. This innovative approach aligns perfectly with India's ambitious renewable energy targets and contributes significantly to the development of a robust green energy infrastructure. Led by solar power, renewable solutions are gaining traction in the C&I segment as they allow commercial establishments and industries to decarbonize their energy consumption and cut down their carbon footprint, embrace sustainability
Earlier, the company received a Notification of Award for the Engineering, Design, Procurement, Erection, Testing & Commissioning of a Rs 463 crore Solar plant at Khavda RE Power Park, Rann of Kutch, Gujarat. The Rs 463 crore project will be state-of-the-art with a fixed tilt module mounting structure along with the remaining balance of the system.
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About Gensol Engineering Ltd
Established in 2012, Gensol Engineering Limited, part of the Gensol group, provides comprehensive engineering, procurement, and construction (EPC) services for solar power plants globally, with a proven track record of installing over 770 MW of solar capacity across ground-mounted and rooftop installations. Committed to sustainability, Gensol is revolutionizing the Indian EV industry by setting up a state-of-the-art manufacturing facility in Pune for electric three-wheelers and four-wheelers, capable of producing 30,000 vehicles annually. Additionally, they offer extensive EV leasing solutions for passenger, fleet, and cargo needs, having already leased over 3,000 EVs with plans to expand significantly. Headquartered in India, Gensol specializes in Solar EPC services, having built solar power plants exceeding 590 MWp globally, and is dedicated to advancing clean energy and electric mobility solutions.
According to Quarterly Results, the net sales increased by 147 per cent to Rs 412 crore, EBITDA increased by 188 per cent to Rs 92 crore and profit after tax increased by 168 per cent to Rs 20 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 147 per cent to Rs 996 crore, EBITDA increased by 218 per cent to Rs 260 crore and profit after tax increased by 129 per cent to Rs 53 crore in FY24 compared to FY23.
The promoters of the company bought 53,945 shares and increased their stake to 62.77 per cent in June 2024 compared to 62.63 per cent in March 2024. The company has a market cap of over Rs 3,500 crore. The shares of the company ex-traded bonus shares in the ratio 2:1 on October 17, 2023. The stock gave multibagger returns of 110 per cent in just 2 years 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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