2:1 Bonus Issue: Engineering Co Bags Rs 337 Cr Projects, Shares Zoom 1492% In 2-Yrs

Small cap renewable energy and electric mobility pioneer, Gensol Engineering Ltd shares witnessed 1.71% rally intraday after the company secured Rs 337 crore projects (422.5 MWp) on Monday. Last trading price of Gensol Engineering stock on BSE is Rs 1238.10 apiece. Gensol Engineering shares zoomed 43% in last 1-month and soared 5472% in last 3-years. The company's market capitalisation is Rs 4,689.04 crore. Check details below:

Gensol Engineering Bags Orders, Shares Soar: As per the regulatory filing dated February 26, 2024, "We would like to inform you that the Company has in normal course of business, received orders from two leading IPPs, who are global renewable power producers focused on delivering clean and reliable solutions. The aggregate value order value of these two projects is approximately around Rs 337,70,00,000 (Indian Rupees Three Hundred Thirty Seven Crores and Seventy Lakhs Only), including taxes."

Gensol Engineering Shares Performance & Return: The 52-week high price of Gensol Engineering shares on BSE is Rs 1377.10 apiece and 52-week low price is Rs 265.42 apiece, respectively. Gensol Engineering shares gave investors return of 62% in last 3-months, soared 305% in last 1-year, and zoomed 5472% in last 3-years.

Gensol Engineering Ltd Wins PLI Bid: According to the company's regulatory filing dated February 12, 2024, "we wish to inform that the company has won a bid of manufacturing capacity for an advanced Electrolyser Plant under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program. The awarded project, with a manufacturing capacity of 63 MW per annum, is strategically positioned to contribute significantly to India's ambitious goal of producing 5 million metric tons of green hydrogen annually by 2030."

Gensol Engineering Bonus Issue In 2023: The company earlier this year announced 2:1 bonus issue and declared October 17 as the record date for bonus issue.

Gensol Engineering Q3 Results: The company for the quarter ended December 2023 declared its consolidated net profit at Rs 12.31 crore as against the net loss of Rs 1.90 crore for the October-December quarter of 2022-23 financial year, as per its exchange filing. Its total income for the quarter under consideration declared at Rs surged to 227.12 crore as compared to to Rs 52.22 crore declared in the corresponding quarter of last year. Meanwhile, expenses arrived at Rs 209.71 crore for the period under consideration, as compared to Rs 48.49 crore in the October-December period last fiscal.

About: Gensol Engineering Limited (GEL), which is a BSE-listed entity and also the flagship company for the Gensol group, was setup in the year 2012 when the solar industry in India was in the stage of its infancy. GEL is dedicated to using technology, engineering and innovation to give its clients the best returns on their capital. It strives to provide support and engineering expertise to clients a nd investors in Solar Power Sector through its offerings of complete concept to commissioning services for MW scale grid-connected solar power projects.

Disclaimer:

The stock just highlights the new order win and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.