Gensol Engineering stock solar project

Gensol Engineering Ltd Sees 4.36% Stock Surge and Announces Major Solar Plant Project—What Investors Need to Know

Today, Gensol Engineering Ltd (BSE: 542851, NSE: GENSOL) experienced a significant boost in its stock price, climbing 4.36% to Rs 1,007 per share from the previous close of Rs 964.95 per share. This uptick is notable as the stock approaches its 52-week high of Rs 1,377.10, reflecting a remarkable 97.4% increase from its 52-week low of Rs 510.12.

Major Project Announcement: Rs 463 Crore Solar Plant

In a move poised to solidify its position as a leader in renewable energy, Gensol Engineering Ltd has announced it has secured a Notification of Award for a monumental project. The company will undertake the Engineering, Design, Procurement, Erection, Testing, and Commissioning of a state-of-the-art solar power plant at the Khavda RE Power Park in Rann of Kutch, Gujarat. Valued at Rs 463 crore, this project will feature a fixed tilt module mounting structure and comprehensive balance of system components.

About Gensol Engineering Ltd: Innovation and Growth

Founded in 2012, Gensol Engineering Ltd is part of the Gensol group and has established itself as a key player in the global solar power sector. The company has a robust track record, having installed over 770 MW of solar capacity through both ground-mounted and rooftop projects. Their commitment to sustainability extends to the electric vehicle (EV) sector as well, with a cutting-edge manufacturing facility in Pune designed to produce 30,000 EVs annually. Additionally, Gensol offers a range of EV leasing solutions, having already leased over 3,000 vehicles with plans for further expansion.

Financial Highlights: A Strong Performance

Quarterly Results

For Q4FY24, Gensol Engineering Ltd reported a substantial increase in financial performance:

Net Sales: Up 147% to Rs 412 crore
EBITDA: Up 188% to Rs 92 crore
Profit After Tax (PAT): Up 168% to Rs 20 crore

Annual Results

In FY24, the company’s annual results showed impressive growth:

Net Sales: Increased by 147% to Rs 996 crore
EBITDA: Increased by 218% to Rs 260 crore
Profit After Tax (PAT): Increased by 129% to Rs 53 crore
Gensol Engineering stock solar project

Stock Performance and Investor Insights

With a market capitalization exceeding Rs 3,700 crore, Gensol Engineering Ltd’s stock has proven to be a strong performer. The company recently distributed bonus shares in a 2:1 ratio on October 17, 2023. Over the past two years, the stock has delivered a remarkable 215% return and an astounding 5,300% return over the last three years. Investors should certainly keep this small-cap stock on their radar.

Why Gensol Engineering Ltd is a Stock to Watch

Gensol Engineering Ltd is making headlines with its impressive stock performance and major project wins in the renewable energy and electric mobility sectors. With strong financial results and significant growth in both its solar and EV ventures, the company is positioned for continued success. Whether you’re an investor or simply interested in the latest developments in clean energy, Gensol Engineering Ltd is a company to watch.

Conclusion

Gensol Engineering Ltd (BSE: 542851, NSE: GENSOL) is currently experiencing a notable uptick in its stock price, climbing 4.36% to Rs 1,007 per share, approaching its 52-week high of Rs 1,377.10. The recent surge is driven by the announcement of a significant Rs 463 crore solar plant project at Khavda RE Power Park, Gujarat. This move strengthens the company’s position in the renewable energy sector, complemented by their robust financial performance, including a 147% increase in Q4FY24 net sales and a remarkable 218% growth in annual EBITDA for FY24

FAQS:

1.Why did Gensol Engineering Ltd’s stock price increase recently?

A. Gensol Engineering Ltd’s stock price rose by 4.36% to Rs 1,007 per share due to the announcement of a significant Rs 463 crore solar power plant project.

2. What is the new project announced by Gensol Engineering Ltd?

A. Gensol Engineering Ltd has secured a major contract to develop a solar power plant at Khavda RE Power Park in Gujarat. The project is valued at Rs 463 crore and includes engineering, design, and installation of solar systems.

3. How does this project impact Gensol Engineering Ltd’s position in the market?

A. This project strengthens Gensol’s position as a leader in renewable energy, enhancing its reputation and expanding its portfolio in the solar power sector.

4. What were the financial highlights for Gensol Engineering Ltd in Q4FY24?

A. In Q4FY24, Gensol reported a 147% increase in net sales to Rs 412 crore, a 188% rise in EBITDA to Rs 92 crore, and a 168% boost in Profit After Tax (PAT) to Rs 20 crore.

5. How did Gensol Engineering Ltd perform financially over the last fiscal year?

A. For FY24, Gensol saw a 147% increase in net sales to Rs 996 crore, a 218% rise in EBITDA to Rs 260 crore, and a 129% growth in PAT to Rs 53 crore.

6. What is the market capitalization of Gensol Engineering Ltd?

A. Gensol Engineering Ltd has a market capitalization of over Rs 3,700 crore.

7. What notable returns has Gensol Engineering Ltd delivered to investors?

A. The company’s stock has provided a 215% return over the past two years and an impressive 5,300% return over the last three years.

8. What is the significance of the company’s bonus share distribution?

A. Gensol recently issued bonus shares in a 2:1 ratio, which can be seen as a positive move for shareholders, potentially increasing their investment value.