Rs 520,00,00,000 order and Rs 1,000 crore order book: Multibagger solar power stock in green as it secures a prestigious solar PV project in Maharashtra

The stock gave multibagger returns of 175 per cent in just 1 year and a whopping 4,000 per cent in 3 years.

Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a pioneer in solar power engineering, procurement, and construction (EPC) services and electric mobility sector has secured the largest-ever turnkey EPC order in size and value from a leading power generation utility in the state of Maharashtra. The project involves the development of a 100 MWAC/135 MWp ground-mount solar PV power project across 500 acres in Maharashtra with a total order value of INR 520 Crore. This monumental achievement underscores Gensol's leading position in the renewable energy sector.

The project aligns with the futuristic policy introduced by the Ministry of New and Renewable Energy (MNRE) in April 2022 and is aimed to enhance Maharashtra's energy infrastructure while contributing significantly towards India's sustainable energy goals.

Gensol will handle everything from the critical task of acquiring land to the plant's ongoing maintenance for three years, encompassing design, engineering, permitting, construction, installation, and even managing the switchyard and transmission infrastructure, solidifying their reputation for excellence and on-time completion within the renewable energy sector, especially considering the demanding 450-day project timeline.

Gensol Engineering Ltd, a diversified clean energy company, has significantly expanded its operations by acquiring a renewable energy generation subsidiary, entering the battery storage market, and receiving approval for a new electric car manufacturing plant. They've also secured contracts for multiple solar power projects, including a large rooftop project for Trident Limited and a 160 MW solar power plant for Continuum Green Energy, solidifying their position as a key player in India's transition to clean energy.

Today, shares of Gensol Engineering Limited surged 0.88 per cent to Rs 886 per share from its previous closing of Rs 878.30 with an intraday high of Rs 914.10 and an intraday low of Rs 881.85. The stock’s 52-week high is Rs 1,377.10 and its 52-week low of Rs 311.69.

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 1.90 crore in Q3FY23 into a net profit of Rs 12.31 crore in Q3 FY24, marking a turnaround (748 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 shares of the company have ex-traded bonus shares in the ratio of 2:1 on October 17, 2023.

The company has a market cap of over Rs 3,300 crore and as of December 31, 2023, the company’s order book stands at over Rs 1,000 crore. As of December 2023, FIIs 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 175 per cent in just 1 year and a whopping 4,000 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.