4,000 per cent returns and Rs 531 crore order book: This multibagger stock races towards upper circuit as EV launch looms - know more here!

The teaser showcases a daring design with a 200 km range and an 80 km/h top speed.

Indian stock markets started a day in the red on Wednesday with the BSE Sensex Index down by 0.23 per cent at 69,396 and the NSE Nifty Index down 0.25 per cent at 20,855.

Though the market was in red, this multibagger stock is bucking the trend and trading in the green. Today, shares of the company hit a 5 per cent upper circuit to Rs 811.70 per share from its previous closing of Rs 773.05. The shares of the company saw a spurt in volume by more than 2.5 times on BSE.

The stock we would be discussing is none other than Gensol Engineering Ltd.

Gensol Electric Vehicles, a subsidiary of Gensol Engineering Ltd, is a rising player in the Indian electric vehicle market. Founded in 2022, they aim to revolutionize urban mobility with their innovative and technologically advanced electric cars. Their state-of-the-art plant in Chakan, Pune, has a production capacity of 30,000 electric cars per year, showcasing their ambitious plans for the future.  

A captivating video teaser from Gensol EV has ignited excitement for their upcoming electric vehicle. The teaser showcases a daring design with a 200 km range and an 80 km/h top speed. Hints of a glossy exterior, a revolutionary wheel frame, stylish lights, and a unique charging port suggest an unconventional yet mesmerizing look. While the full design remains concealed, the teaser promises a thrilling unveiling in March 2024.

Gensol is diligently preparing for its EV launch. The Pune manufacturing plant is nearing completion, awaiting final approval from the Automotive Research Association of India (ARAI). Furthermore, Gensol has another plant planned for Sanand, solidifying their dedication to electric mobility.

Beyond manufacturing, Gensol's BluSmart electric-only ride services continue to expand across India, offering eco-friendly transportation options. Earlier, Gensol recently secured a significant order from the Odisha government, supplying 300 electric vehicles for government purposes. These developments showcase Gensol's comprehensive approach to electrifying the Indian transportation landscape.

Financials About Gensol: The company experienced significant growth in its financial performance in the second quarter and first half of FY24 compared to the same periods in FY23. Net sales increased by 146.45 per cent and 88 per cent, respectively, while net profit increased by 51.1 per cent and 24 per cent, respectively. For the full year FY23, net sales and net profit increased by 144.78 per cent and 122.93 per cent, respectively, compared to FY22.

Ace investor Mukul Agarwal holds a significant stake (1.64 per cent) in the company and has made substantial gains from the stock's recent price appreciation. The company is well-positioned for continued growth, as it has secured multiple orders for EPC and other related work. As of September 30, 2023, the company’s order book stands at Rs 531 crore.

The company had a market cap of over Rs 3,000 crore. 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 150 per cent in just 6 months and a whopping 4,000 per cent in 2 years.

Electric Vehicle (EV) Sector Overview: The electric vehicle (EV) sector is experiencing phenomenal growth worldwide, driven by increasing environmental awareness, government incentives, and technological advancements. The global EV market is projected to reach a staggering USD 1,374.16 billion by 2030, highlighting its potential for massive disruption in the transportation industry.

Environmental anxieties, supportive government policies, technological advances in batteries, and falling production costs are all driving the rapid expansion of the electric vehicle sector, with EVs becoming increasingly attractive and competitive compared to traditional gasoline vehicles.

The EV sector presents an exciting opportunity for innovation, economic growth, and environmental protection. As technology continues to advance and government policies remain supportive, the future of the EV industry looks bright, with Gensol Electric Vehicles poised to be a major player in this dynamic and transformative market.

Do you own Gensol Engineering Ltd.’s stock in your portfolio? Do let us know in the comment section

Disclaimer: The article is for informational purposes only and not investment advice.