Multibagger solar EPC stock rockets with heavy volume - Could it be the next Waaree Renewables Technologies? Order book at Rs 3,100 crore & Promoters increase stake!

The stock gave multibagger returns of 200 per cent in just 2 years and a whopping 5,600 per cent in 3 years.

Today the stock market is in green with the BSE Sensex Index and the NSE Nifty-50 Index up over 1 per cent each. On the broader from BSE Mid-Cap Index and BSE Small-Cap Index gained 1.10 per cent and 0.90 per cent respectively.

Along with the market in green, shares of Gensol Engineering Ltd rocketed 10 per cent to Rs 1,036.90 per share from its previous closing of Rs 942.65 per share. The stock’s 52-week high is Rs 1,377.10 per share while the stock is up by 88.3 per cent from its 52-week low of Rs 547.55 per share. The shares of the company saw a spurt in volume by more than 1.01 times on BSE.

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.

Gensol Engineering Ltd has announced that its Board of Directors will convene on August 12, 2024, to review and approve the company's quarterly financial results ending June 2024, and to deliberate on a potential fundraising strategy involving equity shares or other securities through various methods including private placement, qualified institutions placement, preferential issue, or any other permissible means, subject to regulatory and shareholder approval. Additionally, the company has secured a Rs 463 crore contract for the engineering, design, procurement, erection, testing, and commissioning of a state-of-the-art solar plant in Khavda RE Power Park, Gujarat.

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.

The promoters of the company bought 53,945 shares and increased their stake to 62.77 per cent in June 2024 compared to 62.63 per cent in March 2024. The company has a market cap of over Rs 3,900 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 200 per cent in just 2 years and a whopping 5,600 per cent in 3 years.

Comparison between Waaree Renewable Technologies Ltd and Gensol Engineering Ltd

Can Gensol Engineering Be the Next Waaree Renewable Technologies? Do let us know your thoughts in the comments below

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

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