The shares of India’s largest solar engineering company rose 7 percent to an all-time high price of Rs 2,266.90 a share on Tuesday after the Ace Investor Mukul Agrawal bought a fresh stake in the company.
At 2:36 p.m., On the National Stock Exchange, Gensol Engineering Ltd shares were trading at Rs 2,203.45 a share, up Rs 86.25 or 4.07 percent from the previous close price. The company has a market capitalization of Rs 2,781 crore.
According to BSE data, As of the September 2023-24 quarter, Mukul Mahavir Agrawal bought 2,00,000 shares in the company, or 1.64 percent stake.
The company’s revenue climbed by 46 percent year on year, rising from Rs 101 crore in Q1FY23 to Rs 147 crore in Q1FY24. Within the same time period, net profit increased by 20 percent, from Rs 10 crore to Rs 20 crore. Currently, the Company’s Current Order Book stands at Rs 531 crore.
The company has planned an EV leasing business revenue target of Rs. 44 Cr from around 5000 Cars and 1000 EV Cargos. And also received in-principle approval for 5000 EV cars and 1000 EV cargo from a reputed FI.
In the recent fiscal year, the company reported a net profit margin of 7.28 percent and an operating margin of 14.02 percent. Similarly, the Company has reported a return on equity at 12.94 percent and a return on capital employed at 6.26 percent.
Gensol Engineering Limited offers engineering, procurement, and construction (EPC) services for the development of solar power plants and also the development and production of electric three-wheelers and four-wheelers.
As per the current shareholding pattern, the promoters own 64.67 percent of the company, and retail investors own 32.72 percent.
Written by Omkar Chitnis
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