Promoter Bought 26,500 Shares & Rs 10,382 Crore Revenue Visibility: Heavy Buying In This Multibagger Solar EPC & Electric Mobility Solutions Stock; Jumps 13.5 Per Cent
The stock gave multibagger returns of 3,150 per cent in 3 years and has delivered good profit growth of 52.1 per cent CAGR over the last 5 years with a PE of 39x and an ROE of 21 per cent.
Today, shares of Gensol Engineering Ltd jumped 13.5 per cent to an intraday high of Rs 864.40 per share from its previous closing of Rs 761.30 per share. The stock’s 52-week high is Rs 1,377.10 per share while the stock is up by 20 per cent from its 52-week low of Rs 720 per share. At the closing bell, shares of the company were trading at Rs 831.15 per share, up 9.18 per cent with a spurt in volume by more than 3.87 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.
Promoter Buying via Open Market: The company previously informed that Mr. Anmol Singh Jaggi (Promoter and Managing Director) holds 80,30,711 equity shares of the company which amounts to 21.13 per cent of the total shareholding of the company. Mr Jaggi, has acquired 26,500 additional shares through open market operations. Consequently, Mr Jaggi's shareholding in the company has slightly increased. This strategic move reflects his confidence in the company's growth prospects and his ongoing commitment to its success. His continued investment serves as a testament to the company's promising future and his dedication to its success.
Results: According to Quarterly Results, the net sales increased by 14 per cent to Rs 347 crore and net profit increased by 29 per cent to Rs 23 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 49 per cent to Rs 710 crore and net profit increased by 52 per cent to Rs 50 crore in H1FY25 compared to H1FY24. Looking at its annual results, the net sales increased by 142 per cent to Rs 963 crore and net profit increased by 129 per cent to Rs 53.5 crore in FY24 compared to FY23.
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Order Secured & Order Book: Gensol Engineering Limited has secured a significant INR 780 Crore contract from a prominent public sector utility in Maharashtra. This 150 MWac solar PV project, spanning 15 months, will involve land acquisition, design, engineering, procurement, construction, and O&M services. This win underscores Gensol's expertise in large-scale solar projects and its strong foothold in the Indian renewable energy market.
Gensol Engineering Limited has announced a robust solar EPC order book worth INR 5,424 Crore, comprising projects from both public and private sectors. These projects are slated for completion within 12-18 months. Additionally, Gensol has secured orders for Battery Energy Storage Systems (BESS) under the BOO model, further solidifying its position in the renewable energy sector. With a total revenue visibility of INR 10,382 Crore across solar, BESS, and solar power generation segments, Gensol is well-positioned to capitalize on the growing demand for clean energy solutions.
Other Updates: In September 2024, FIIs bought 1,21,608 shares and increased their stake to 2.30 per cent compared to 1.98 per cent in June 2024. The company has a market cap of Rs 3,148 crore. The stock gave multibagger returns of 3,150 per cent in 3 years and has delivered good profit growth of 52.1 per cent CAGR over the last 5 years with a PE of 39x and an ROE of 21 per cent. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.