Rs 1,000 crore order book: This multibagger small-cap company and Matrix Gas & Renewable Ltd consortium win PLI bid for hydrogen electrolyser manufacturing – know more here!
The stock gave multibagger returns of 265 per cent in just 1 year and a whopping 6,075 per cent in 3 years.
Gensol Engineering Ltd (BSE: 542851) (NSE: GENSOL), a leader in sustainable energy solutions, together with Matrix Gas & Renewables Ltd, fastest-growing green hydrogen infrastructure developer and natural gas aggregator, is proud to announce the grant of manufacturing capacity for an advanced electrolyser plant under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program. This initiative signifies a pivotal step forward in India's commitment to green hydrogen as a cornerstone of its decarbonization strategy and net-zero emission commitment.
The awarded project, with a manufacturing capacity of 63 MW per annum, is strategically positioned to contribute significantly to India’s ambitious goal of producing 5 million metric tons of green hydrogen annually by 2030. This aligns with the national Green Hydrogen Mission, bolstered by the Production Linked Incentive (PLI) scheme, underpinning our collective pursuit of net-zero emissions and sustainable development.
The awarding of the manufacturing capacity to Gensol and Matrix under the SIGHT PLI Scheme's Tranche-I, as part of the National Green Hydrogen Mission, is a significant endorsement of their dedication to the renewable energy landscape, which not only solidifies their position as comprehensive green hydrogen solutions providers but also enhances their technical expertise. Furthermore, it paves the way for new growth opportunities and partnerships within the renewable energy domain, reinforcing their role in advancing the transition to sustainable energy sources.
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Today, shares of Gensol Engineering Limited gained 3.50 per cent to an intraday high of Rs 1,162.90 per share from its previous closing of Rs 1,123.50. The stock’s 52-week high is Rs 1,231.35 per share and its 52-week low is Rs 265.42 per share.
Earlier, Gensol Engineering Limited, a company leading the green energy and clean mobility revolution, raised a significant Rs 900 crore equity capital through warrants convertible into equity shares on a preferential basis. This major milestone comes at a time when Gensol is on an exceptional growth trajectory and has achieved significant advancements in Solar EPC, EV Leasing, and EV Manufacturing sectors. The company's dedication to innovation and environmental stewardship drives its continued progress, aiming for a 5X growth within the next three years.
In the preferential issue allocation, Promoter (JASMINDER KAUR) was allocated 15,25,000 shares and FIIs (Tano Investment Opportunities Fund, Intuitive Alpha Investment Fund PCC, Aries Opportunities Fund Limited, Elara India Opportunities Fund Limited and Coeus Global Opportunities Fund) were allocated 28,00,000 shares. The remaining 60,09,059 shares were allocated to various other FIIs, FPIs and public shareholders.
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 4,400 crore and as of December 31, 2023, the company’s order book stands at over Rs 1,000 crore. As of December 2023, FIIs and DIIs increased their stake to 2.57 per cent and 0.84 per cent respectively while an ace investor, Mukul Agrawal holds a significant stake (1.51 per cent) in the company.
The shares of the company have an ROE of 21.4 per cent and an ROCE of 12.4 per cent. The stock gave multibagger returns of 265 per cent in just 1 year and a whopping 6,075 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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