On Wednesday the share of the small-cap company rose 3.7 percent to its intraday high of Rs 874 per share from its previous close of Rs 842.15 after the company secured a contract worth Rs 138.72 crores.
According to the filling of Gensol Engineering Limited, the company secured a contract for a 33 MW AC solar power plant for Sarda Energy, a steel and ferroalloy leader, in Chhattisgarh worth Rs 138.72 Crores.
Gensol will manage the entire process, demonstrating its expertise and gaining SEML’s trust. This collaboration is a strategic move to capitalize on Chhattisgarh’s vast industrial potential for clean energy integration with a 6-month completion timeline.
According to the company report, the net revenue increased by 141 percent year over year, from Rs 80 crore in Q2FY23 to Rs 193 crore in Q2FY24. Their revenue rose by 31 percent sequentially from Rs 147 crore in Q1FY24 to the current levels.
In addition, the company’s net profit rose by 128 percent year over year, from Rs 7 crores in Q2FY23 to Rs 16 crores in Q2FY24. Their profit increased by 33 percent on a quarterly basis from Rs 12 crore in Q1FY24 to the current levels.
Gensol Engineering Limited has a return on equity of 19 percent, a return on capital employed of 12 percent, and a net profit margin of 6 percent however the share price return in the last years is negative.
The promoter owns 64.6 percent of the company, the general public owns 32 percent, foreign institutional investors own 2.5 percent, and domestic institutional investors own 0.7 percent.
Gensol Engineering Limited is an Indian firm that provides engineering, procurement, and construction (EPC) as well as solar advisory services.
Written by Sriram KV
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