Rs 1,783 crore order book & promoter increase stake: Multibagger solar EPC & EV manufacturing Stock – Gets trading approval of 1,01,85,059 Equity shares on conversion of warrants!

The stock gave multibagger returns of 200 per cent in just 1 year and a whopping 5,300 per cent in 3 years.

Today at 09:20 am, shares of Gensol Engineering Ltd gained 0.93 per cent to an intraday high of Rs 980 per share from its previous closing of Rs 970.95 per share. The stock’s 52-week high is Rs 1,377.10  per share while it gave multibagger returns of 214 per cent from its 52-week low of Rs 311.69 per share.

Gensol Engineering received in-principle approval to issue 10,185,059 equity shares of Rs 10 each to promoters and non-promoters on a preferential basis. This is subject to meeting conditions like filing a listing application after allotment, getting statutory approvals, complying with regulations from SEBI, RBI and MCA, and submitting required documents to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

The company has appointed Mr Kuljit Singh Popli as an Independent Director (Non-Executive) and Mr Ali Imran Naqvi as Director (Executive). Mr. Popli brings over 40 years of experience, having served as Founder Director of Clime Finance Pvt. Ltd., Advisor with the International Solar Alliance, and Chairman & Managing Director of IREDA from 2014 to 2019. He has also held significant roles at Power Finance Corporation (PFC) and National Hydroelectric Power Corporation (NHPC) and currently serves as Honorary Secretary General of the India Energy Forum. Mr. Naqvi, with over 14 years of experience, has been integral to Gensol's growth, expanding its advisory portfolio to over 33,000 MW and managing EPC projects exceeding 600 MW. In his new role, he will oversee the company's continued expansion.

Additionally, 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.

Also Read: Mukul Agrawal bought 1,67,000 shares & FIIs bought 5,51,688 shares: Multibagger company joins SPV as Part of Government's 'Make in India' Drive for Defence and Aerospace Sector Enhancement

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 3,600 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 200 per cent in just 1 year and a whopping 5,300 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.