Rs 5,025 Crore Order Book: Solar EPC Company and Matrix Gas & Renewables Ltd have secured the project to set up India’s first Green Hydrogen Valley in Pune, Maharashtra
The stock gave multibagger returns of over 4,000 per cent in 3 years and has delivered good profit growth of 52.1 per cent CAGR over the last 5 years with PE of 60x and an ROE of 21 per cent.
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, in collaboration with Matrix Gas & Renewables Ltd, a fast-growing green hydrogen infrastructure developer and natural gas aggregator, announced that Gensol and Matrix have won the project to set up India’s first Green Hydrogen Valley project in Pune. Gensol – Matrix will set up a Green Hydrogen production plant on Build Own and Operate (BOO) basis to supply Green Hydrogen to the Specialty Chemical sector with the firm offtake for 20 years. Gensol & Matrix are both companies promoted by common promoters and will continue to collaborate in the Green Hydrogen and its derivates including Green Steel and Green Ammonia domain taking benefit of the skill sets of each entity.
Additionally, The Board of Directors of Gensol Engineering Limited approved several significant business decisions at their recent meeting. The company increased the issue size of its Qualified Institutional Placement (QIP) from Rs 500 crore to Rs 750 crore, raising an additional Rs 250 crore. Subject to shareholder and regulatory approval, the Board also approved an increase in the company's authorized share capital from Rs 50 crore to Rs 75 crore by issuing 2.5 crore equity shares.
Furthermore, they approved a preferential allotment of up to 5,70,798 equity shares to Anupa Shailesh Vaidya and Gauri Kiran Shah at a premium of Rs 976 per share. In a strategic move, Gensol Engineering acquired a 99.99 per cent stake in Gridstor Energy Private Limited, a renewable power generation and distribution company, solidifying its position in the renewable energy sector.
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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.
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 and as of June 2024, the company has an order book of Rs 5,025 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 over 4,000 per cent in 3 years and has delivered good profit growth of 52.1 per cent CAGR over the last 5 years with PE of 60x and an ROE of 21 per cent. 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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