Promoter allocated 15,25,000 warrants & non-promoters allocated 46,58,735 warrants of this multibagger solar EPC & EV manufacturing stock with Rs 1,783 crore order book

The stock gave multibagger returns of 215 per cent in just 1 year and a whopping 6,200 per cent in 3 years.

Today, shares of Gensol Engineering Ltd gained 2.46 per cent to an intraday high of Rs 1,051 per share from its previous closing of Rs 1,025.75 per share. The stock’s 52-week high is Rs 1,377.10 per share while it gave multibagger returns of 221 per cent from its 52-week low of Rs 327.34 per share.

The Board of Directors of the Company, at their meeting held on June 18, 2024, has, inter alia, considered and approved the allotment of 61,83,735 convertible warrants at an issue price of Rs 871 each (Warrant Issue Price), aggregating upto Rs 5,38,60,33,185 on preferential basis to the non-promoters and promoter of the company. The company has received 25 per cent of the warrant issue price i.e. Rs 217.75 for each warrant, aggregating to Rs 1,34,65,08,296.25 from the allottees. The promoter of the company (JASMINDER KAUR) was allocated 15,25,000 warrants & 107 non-promoters allocated 46,58,735 warrants.

Additionally, Gensol Engineering Ltd has won a 250 MW/500 MWh standalone Battery Energy Storage Systems (BESS) project from Gujarat Urja Vikas Nigam Limited (GUVNL) for Rs 1,340 crore. This project will provide electricity on-demand to Gujarat's power companies during peak and off-peak hours, extending renewable energy availability beyond sunshine hours. It will deliver 500 MWh of energy for two charging cycles daily. GUVNL has the option to expand the project to 500 MW/1000 MWh, potentially generating Rs 2680 crore over the 12-year contract. This project highlights Gensol's ability to deliver advanced energy storage solutions and is a major development for standalone BESS in India, driven by government support. Gensol's win signifies their expertise in engineering, procurement, and construction (EPC) and their efforts to integrate into the Advanced Chemistry Cell-based energy storage value chain.

Earlier, Mr. Anmol Singh Jaggi, Promoter and Managing Director, acquired 53,945 shares on June 04, 2024, amounting to Rs 4,77,44,327.75. This increased his shareholding from 79,64,766 equity shares (21.03 per cent of total shareholding) to 80,18,711 equity shares (21.17 per cent of total shares). As a result, the total promoter and promoter group shareholding rose from 2,37,17,306 shares (62.62 per cent of total shareholding) to 3,78,72,897 shares (62.77 per cent of total shareholding). This acquisition reflects the promoter's strong commitment to the company’s future growth.

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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.

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 3,900 crore and as of March 31, 2024, the order book stood at Rs 1,783 crore: Rs 1,448 crore from the solar segment and Rs 335 crore from the leasing segment. 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 1 year and a whopping 6,200 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.