This high RoE, low beta multibagger renewable energy company recently commissioned a captive solar plant for Shree Cement
Year-to-date, the stock is up by 1,083 per cent!
Ahmedabad-based Gensol Engineering recently announced that it has commissioned a 6.7 MWp ground-mount solar project for self-consumption by Shree Cement Limited. The captive solar plant will power Shree Cement’s manufacturing facility in Panipat (Haryana). The project is estimated to save approx. 9,192 metric tonnes, equivalent to CO2 emissions per year.
The shares of Gensol Engineering have more than doubled in less than two months. Year-to-date, the stock is up by 1,083 per cent while over the last three months, it has furnished returns of 183 per cent.
The company has, in the normal course of business till September 18, closed orders from various reputed clients for the development of solar power projects worth over Rs 531 crore (exclusive of taxes), aggregating to a capacity of over 121 MWp. It is worth noting that more than 23 per cent are repeat orders from existing clients.
To quote from the press release filed by the company with the exchange, "Piquantly, more than 37 per cent of these orders envisage the development of projects in the southern states of Andhra Pradesh, Karnataka, Telangana, and Tamil Nadu, closely followed by Gujarat at 34 per cent. While the largest size of the project is over 25 MWp, the lowest size is around 80 kWp."
Gensol Engineering Ltd is engaged in the business of solar consulting & EPC. The company's services include solar advisory, solar EPC, solar O&M along with solar monitoring & analysis. It also provides dedicated consultancy services for extra-high voltage (EHV) transmission lines.
Investors must keep a close eye on this stock in the coming trading sessions!