2:1 bonus share & Rs 3,100 crore order book: Multibagger solar EPC company bags new order worth Rs 463 crore at Gujarat’s Khavda RE Power Park
The stock gave multibagger returns of 215 per cent in just 2 years and a whopping 5,300 per cent in 3 years.
Today, shares of Gensol Engineering Ltd surged 4.36 per cent to Rs 1,007 per share from its previous closing of Rs 964.95 per share. The stock’s 52-week high is Rs 1,377.10 per share while the stock is up by 97.4 per cent from its 52-week low of Rs 510.12 per share.
Gensol Engineering Ltd. (BSE: 542851) (NSE: GENSOL), a pioneer in solar power engineering, procurement, and construction (EPC) services and the electric mobility sector, has received a Notification of Award for the Engineering, Design, Procurement, Erection, Testing & Commissioning for 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 fixed tilt module mounting structure along with remaining balance of system.
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.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
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 company has a market cap of over Rs 3,700 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 215 per cent in just 2 years and a whopping 5,300 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.
Also Read: Rs 1,400 Crore Order Book: Multibagger Defence Drone Company Introduces AI-powered Robots; Unveils Four Products for the Global Defence Market