The shares of one of the leading Infrastructure stocks, specialising in providing engineering, procurement, and construction (EPC) services to renewable energy and the solar power sector, jumped up to 6 percent following Strategic Partnership with Refex Green Mobility Limited for the transfer of electric four-wheelers (e4Ws).
Price action
With a market capitalization of Rs. 2,773.04 crores on Thursday, the shares of Gensol Engineering Limited is trading at Rs. 763.10 up by 6 percent making a high of Rs. 783.65 per share compared to its previous closing price of Rs. 729.05 per share.
What Happened
Gensol Engineering Limited specialising in providing engineering, procurement, and construction (EPC) services to renewable energy and the solar power sector has entered into a landmark strategic tie-up with Refex Green Mobility Limited (Refex eVeelz) to transfer 2,997 electric four-wheelers (e4Ws).
As part of the agreement, Refex eVeelz will also take on a loan of approximately Rs. 315 Crore, streamlining operations, and enhancing the deployment of e4Ws across key markets This deal will help Refex eVeelz expand its electric vehicle operations in cities like Chennai, Bengaluru, Hyderabad, Mumbai, and Pune.
Refex eVeelz plans to lease these vehicles to Blu-Smart Mobility Limited for use in Delhi NCR and Bengaluru, driving further growth in the electric mobility sector. Gensol views this partnership as a way to reduce its debt while contributing to India’s green transportation goals.
Gensol Engineering at glance
Gensol Engineering has a strong foundation in technical advisory services and has grown significantly over the years. The company currently boasts over 33,693 MW+ in its portfolio. In the trailing twelve months (TTM), it has reported a total revenue of Rs. 1,477 Crore and has an unexecuted order pipeline worth Rs. 3,400 Crore.
The company also has contracts worth over Rs. 2,000 Crore under award and a total renewable revenue visibility exceeding Rs. 8,300 Crore.
Financials
The company’s revenue rose by 68.9 percent from Rs 205.31 crore to Rs 346.82 crore in Q2FY24-25. Meanwhile, Net profit rose from Rs 11.53 crores to Rs 29.38 crore during the same period.
Written by Sridhar J
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.
