Rs 5,025 Crore Order Book: Solar EPC Company Secures Rs 186,00,00,000 Contract for 23 MWp Rooftop Solar Project in Dubai
The stock gave multibagger returns of 2,675 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 57x and an ROE of 21 per cent.
Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a leading player in the renewable energy sector specialising in solar power engineering, procurement and construction (EPC) services, announced that it has been awarded a prestigious contract by UAE’s leading sustainable development and clean energy development company for the design, construction and long-term operation and maintenance of rooftop solar photovoltaic (PV) systems for the engineering facilities of a leading aviation company in Dubai.
With a total installed capacity of 23,178 kWp (23 MWp), the project underscores Gensol Engineering’s commitment to driving sustainability in the Middle East by contributing to the region’s transition to cleaner energy sources. The contract, valued at AED 81.6 million (Rs 186 crore) plus taxes, is set to be executed over 20 months. The turnkey project will involve the design, procurement of materials, construction, testing, commissioning and long-term operation and maintenance of the rooftop solar PV systems. These systems will provide a sustainable energy solution to the customer, contributing significantly to Dubai’s ambitious sustainability targets and reducing the carbon footprint of one of the region’s most critical industrial facilities.
Additionally, the company recorded revenue from operations, surpassing Rs 314 crore (provisional and unaudited) in Q2FY25 ending on September 30, 2024 (Q2FY25). This remarkable achievement represents a growth rate of 58 per cent compared to the quarter two of the previous financial year. The corresponding figure for the previous year (Q2FY24) was at Rs 199 crore. Gensol's performance emphasises its position as a frontrunner in the industry.
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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.
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 3,000 crore and as of June 2024, the company has an order book of Rs 5,025 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 2,675 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 57x 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.