Promoter Bought 26,500 Shares; Multibagger Solar EPC Company Secures Rs 780 Crore Solar PV Project from Major Public Sector Utility in Maharashtra
The company’s shares have delivered a multibagger returns of over 3,300 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 secured a significant turnkey EPC contract from a major public sector utility in Maharashtra.
The project involves the development of a 150 MWac ground-mounted solar PV power plant, with a total contract value of Rs 780 crore, scheduled for execution over a 15-month period.
Gensol will be responsible for the entire project lifecycle, beginning with the complex task of land acquisition, which underscores the project's scale and intricacy. The scope of work includes design, engineering, procurement, and logistics, as well as the manufacturing, supply, erection, inspection, installation, testing, and commissioning of the grid-connected solar PV power plant. Additionally, the contract covers the development of the necessary power evacuation infrastructure to connect to the STU substation. Furthermore, it will provide three years of operation and maintenance (O&M) services for the project, including maintenance of the plant's switchyard and extensive transmission infrastructure.
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On Monday, the shares of Gensol Engineering closed at around Rs 840.05 per share on the BSE. The company’s current market capitalization stands at Rs 3,181 crore. Additionally, the company’s shares have delivered a multibagger return of over 3,300 per cent in the past 3 years.
As per the Quarterly Results, in the Q2 FY25, Gensol Engineering recorded a revenue of Rs 346 crore compared to Rs 305 crore. The operating profit stood at Rs 107 crore. The net profit stood at Rs 23 crore compared to a profit of Rs 18 crore. Looking at the annual performance, the company generated a revenue of Rs 963 crore in FY24. The operating profit for FY24 was Rs 230 crore with a net profit of Rs 53 crore compared to a net profit of Rs 23 crore in FY23.
Anmol Singh Jaggi, Promoter and Managing Director, holds 80,30,711 equity shares in the company, representing 21.13 per cent of total shareholding. According to a press release from October 31, he has acquired an additional 26,500 shares through open market operations, leading to a slight increase in his overall stake.
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Disclaimer: The article is for informational purposes only and not investment advice.