Small Cap stock engaged in offering engineering, procurement, and construction (EPC) services for the development of solar power plants jumped 3 percent in the day’s trade, after company’s promoter bought additional stake from the open market.
With a market capitalization of Rs. 3,545 Crores, the shares of Gensol Engineering Limited were trading at Rs. 936.85 per equity share, up 2.62 percent from its previous day’s close price of Rs. 912.95.
Gensol Engineering Limited in its latest press release expressed that, Mr. Anmol Singh Jaggi the Promoter and Managing Director of the company has acquired 53,945 equity shares of the Company from the open market operations amounting to Rs. 4.77Crores.
Mr. Anmol Singh Jaggi previously held 79,64,766 Equity shares of the company which represents 21.03 percent of the total shareholding of the company, post-acquisition of 53,945 shares of the Company, he now holds 80,18,711 Equity Shares which represents 21.17 percent of the total shareholding of the company.
Gensol Engineering Limited is part of the Gensol Group of companies, it is a leading player in renewable energy sector in offering engineering, procurement, and construction (EPC) services for the development of solar power plants. It operates across four segments namely Solar EPC, Solar Panel Tracking Tech, EV Leasing and EV Manufacturing.
Gensol Engineering Limited is Diversifying into EV manufacturing and the EV leasing marks a strategic shift for Gensol, allowing for multiple revenue streams, reduced reliance on a single sector ensuring stability.
Gensol Engineering Limited has a strong order book of Rs. 1,783 Crores, with 33,693 MW+ Historical foundation of technical advisory services, 770 MW+ Ground mounted, rooftop and floating solar EPC projects and it has 6,000+ EVs on lease.
It has a strong customer base with wellknown players like, Gail, Astral Pipes, GMR, L&T Realty, SRF, Hitachi, Hindalco, RBI, Trident Energy and many others.
Its revenue from operations grew by 151.16 percent from Rs. 144.49 Crores in Q4FY23 to Rs. 362.9 Crores in Q4FY24, accompanied by profits of Rs. 8.43 Crores to Rs. 34.81 Crores.
In terms of return ratios, it has reported a return on equity (ROE) of 20 percent, a return on capital employed (ROCE) of 14.6 percent and a debt to equity ratio of 4.63.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
