Solar stock in green after winning ₹88 Cr 22-MW solar power project 

Shares of this small-cap company, known for its solar consulting and EPC services, rose by more than 2 percent following the announcement of a Rs.88 crore contract to develop a 22 MW Solar PV project for a prominent steel products company in Punjab. 

Price Variation 

In Wednesday’s trading session, Gensol Engineering Limited’s share price soared 3.19 percent to an intra-day high of Rs.790.00 per share, up from the previous close of Rs.772.40 apiece. The price has since retreated and is currently trading at Rs.781.65 per share. 

What is the news 

Gensol Engineering Limited a prominent player in the renewable energy sector specializing in solar EPC services, has secured its first major turnkey solar project from a leading steel products company in Punjab. 

The project entails the development of a 22 MW ground-mounted solar PV power plant, with a total contract value of Rs.88 Crore, to be completed within six months. The plant will feature high-efficiency bi-facial solar modules, selected to optimize energy production and ensure long-term performance. 

This initiative supports India’s renewable energy goals and contributes to the expansion of sustainable energy infrastructure, particularly in the C&I sector, where renewable solutions help businesses reduce their carbon footprint and enhance sustainability. 

Order Book 

Gensol Engineering Ltd. has an unexecuted order pipeline worth Rs.3,400 crore, with contracts under award totaling over Rs.2,000 crore. Additionally, the company has total renewable revenue visibility exceeding Rs.8,300 crore, reflecting strong future growth prospects in the sector. 

Also read….

Business Segments 

Gensol Engineering operates in solar EPC, EV Leasing, and EV Manufacturing. Solar EPC contributes 82.66 percent of revenue, EV Leasing 16.96 percent, and other segments 0.37 percent. EV sales have not yet commenced. 

Financial Overview 

Turning towards the financials of the company, Gensol Engineering Limited reported Q2 FY25 revenue of Rs.346 crore, up remarkably by 14 percent from Rs.305 crore in the same quarter last year. Profit After Tax (PAT) increased by 53.3 percent to Rs.23 crore, compared to Rs.15 crore in the same period.

Company Profile 

Gensol Engineering Limited is a leading company in the renewable energy sector, focusing on solar energy solutions and electric mobility. It specializes in engineering, procurement, and construction (EPC) services. 

Written by – Siddesh S Raskar 

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.

The post Solar stock in green after winning ₹88 Cr 22-MW solar power project  appeared first on Trade Brains.