This S&P BSE Smallcap Stock was listed in July 2023 and has now announced the record date for bonus issue. The company has a market cap of Rs. 2,409 crore and is 30% away from its 52 week high, trading at Rs. 1971.45 versus Rs. 1958.25 at closing on Thursday. The stock is seeing volumes that are over 0.2x the monthly average, trading 2.3% above its 20 day moving average.
In a filing dated 5th October 2023, Gensol Engineering Ltd (‘Gensol”), fixed Tuesday, October 17, 2023 as the Record Date to determine eligible shareholders entitled to receive the Bonus Shares in the ratio of 2:1. Earlier last week, on Thursday, 28th September shares of an engineering company gained 4.6 percent after the company announced that they received an order from tata group for leasing 500 Tata Ace Cargo EVs.
The order was valued at Rs. 75 crore. Moreover, Company is also working with Public sector units (PSUs) for last mile delivery and employee transportation business with a leasing requirement of 100+ electric vehicles.
Having a walkthrough at financial reports, the company’s revenue has decreased by 9 percent compared to the previous quarter, from 166 crore in Q4FY23 to 151 crore in Q1FY24. On the other hand net profit has increased by 36 percent from 7.31 crore in Q4FY23 to 10 crore in Q1FY24.
Looking at the financial ratios, Company reported return of equity (ROE) of 19.38 percent and return on capital employed (ROCE) of 11.95 percent in the last financial year.
Gensol Engineering Ltd is engaged in the business of solar consulting, they provide detailed engineering, quality control, construction supervision and other consultancy services for solar projects across various countries. They also have a subsidiary Gensol EV which is engaged in the EV manufacturing business.
Written by Sandeep R
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