Multibagger Solar Company Announces Solar EPC Order Book Surpasses Rs 4,000 Crore as of September 2024 – Promoter Increased Stake in June!
The company’s shares have delivered a multibagger returns of over 3,000 per cent in the past 3 years only.
Gensol Engineering a prominent player in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, has announced that its solar EPC order book has reached Rs 4,097 crore, equivalent to 1.5 GW, as of September 30, 2024. This significant figure encompasses solar projects from both Public Sector Undertakings (PSUs) and private clients, all set to be executed within a timeframe of 12 to 18 months.
In addition to its solar order book, Gensol boasts a robust bid pipeline that exceeds its current order book, indicating strong future growth potential. Furthermore, the company has secured orders for Battery Energy Storage Systems (BESS) under the Build, Own, operate (BOO) model, enhancing its revenue potential and reinforcing its commitment to advancing renewable energy solutions that address the intermittent nature of the renewable energy sector.
As of September 30, 2024, the company’s revenue visibility summary showcases a strong financial outlook across its business segments. The company’s unexecuted order book for Solar EPC stands at Rs 4,097 crore. Additionally, it has secured revenue visibility of Rs 3,138 crore from Battery Energy Storage Systems, which will be realized over the next 12 years. Furthermore, the revenue from Solar Power Generation, expected over a period of 25 years, amounts to Rs 1,820 crore. In total, Gensol’s order book reaches an impressive Rs 9,055 crore, underscoring its robust position in the renewable energy sector.
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Share Performance
On Tuesday, the shares of Gensol Engineering closed at around Rs 804.20 per share on the BSE. The company’s current market capitalization stands at Rs 3045.75 crore. Additionally, the company’s shares have delivered a multibagger return of over 3000 per cent in the past 3 years.
Financial Performance
As per the Quarterly Results, in the Q1 FY25, Gensol Engineering recorded a revenue of Rs 295 crore compared to Rs 145 crore. The operating profit stood at Rs 88 crore. The net profit stood at Rs 15 crore compared to a profit of Rs 10 crore. Looking at the annual performance, the company generated a revenue of Rs 963 crore in FY24. The operating profit for FY24 was Rs 228 crore with a net profit of Rs 53 crore compared to a net profit of Rs 25 crore in FY23.
In June 2024, the company's promoters increased their stake from 62.63 per cent to 62.77 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.