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Shares of this EPC & solar advisory services firm held by Mr. Mukul Agrawal jumped approximately 6 percent in Monday’s trading session after the consortium company won PLI bid for manufacturing Hydrogen Electrolyser. 

With a market capitalization of Rs 4,433.59 crores, the stocks of Gensol Engineering Limited, a leader in sustainable energy solutions, started their trading session on Monday at Rs 1,188.95 and currently trade at Rs 1,170.65, gaining around 6 percent as compared to the previous closing levels of Rs 1,110.10 apiece. 

Such bullish stock price movements were observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), intimated about the consortium with “Matrix Gas & Renewables Limited” winning a bid about the manufacturing capacity for an advanced Electrolyser Plant under the ‘Sustainable Hydrogen Innovation & Green Hydrogen Technologies’ (SIGHT) program. 

The awarded project will have a manufacturing capacity of 63 MW per annum and the same will position the company to contribute to India’s goal of producing 5 million metric tons of green hydrogen annually by 2030. 

“Green hydrogen is pivotal in the world’s transition to sustainable energy, and Gensol, leveraging this opportunity, aims to foster global partnerships, technological exchange, and innovation. Together, we are set to catalyse the adoption of green hydrogen globally, marking a new era in energy sustainability.”, commented Mr. Ali Imran Naqvi, CEO (EPC Business), Gensol Engineering Limited

Having a glance at the latest shareholding pattern data of the company, Mr. Mukul Agrawal, one of the well-known ace investors based in India, has invested in the shares of Gensol Engineering Limited. He entered the stock in September 2023 and currently, as per the December 2023 quarter, holds 5.70 lakh equity shares equivalent to a 1.51 percent stake in the company. 

During the recent financial quarters, the company’s basic business indicators such as operating revenues as well as after-tax profits showed positive movements with the former increasing from Rs 199 crores during Q2FY24 to Rs 220 crores during Q3FY24, and the latter, keeping the timeframe the same, rose marginally from Rs 11 crores to Rs 12 crores.

Gensol Engineering Limited is engaged in the business of providing renewable energy solutions focusing on end-to-end solar engineering, procurement, and construction (EPC) projects. The company provides detailed engineering, technical due diligence, quality control, and other consulting services for solar projects across various countries. 

Written by Amit Madnani 

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