Gensol Secures Rs 967.98 Cr EPC Contract For 245 MW Solar Project In Gujarat

Gensol Engineering Limited has further solidified its business position after executing a vital engineering, procurement, and construction (EPC) contract. GESIP is also involved in India's renewable energy space like most other firms and they were recently awarded the development of a 245 MW Solar PV Project in the revered Khavda Renewable Energy (RE) Power Park in the State of Gujarat. This project is estimated at Rs 967.98 crores, developer service charge n..o GST, which incorporates 3 years of complete operations and maintenance service O&M.

The award also reflects Gensol's completion of two substantial project wins in the Khavda Solar Park and in quick succession showing their strong execution capabilities. Earlier this month Gensol Engineering Limited was awarded EPC contracts for a 275 MW Solar PV Project in a large 795 MW Solar PV development block which was previously part of the same location in a larger bunch of EPC contracting. With these monumental projects, Gensol will now be tasked with developing 522 MWs of solar PV capacity at the world's largest hybrid renewable energy park.

Gensol remains focused on enhancing India's clean energy transition while maintaining a strong foothold in solar EPC services. The company's cutting-edge technology combined with its culture of operational excellence allows the business to pursue extensive renewable energy adoption, which corresponds with the nation's aggressive sustainability targets.

The company's order book includes public and private segment projects, leading to a robust valuation of Rs 5,424 crore. These projects will be finished in the next 12-18 months. Gensol is also enhancing its role in the renewable energy ecosystem by winning orders for Battery Energy Storage Systems (BESS) under the Build-Own-Operate model. The company has a revenue visibility estimate of Rs 10,382 crore across solar, BESS, and Solar Power Generation. This estimate shows the company's ability to meet the rising demand for clean energy solutions.

Gensol has made impressive strides in the past year. In the second quarter of FY25, net sales reached approximately Rs 347 crores which was a 14% increase from the previous year and net profit amounted to Rs 23 crores, a staggering 29% increase compared to the previous year. The company's first half year ended on an optimistic note, having net sales of Rs 710 crore, which was a whopping 49% increase from the previous year. Additionally, net profits increased 52% to Rs 50 crores. GPP also reported satisfying net sales of Rs 963 crores for FY24, compared to the 142% increase from FY23 alongside an increase in net profit of 53.5 crores which was a 129% increase.

Gensol's market capitalization is more than Rs 2800 crores, with memorabilia stock multi-bagging up to 1200% in the span of 3 years. Alongside these achievements, the company has had a steady profit growth of 52.1% CAGR for the past five years. Gensol continues to earn truems through the expansion into renewable energy resources, reporting an astounding PE ratio of 34x while maintaining an equity return (ROE) of 20%.

Gensol Engineering Limited, a subsidiary of Gensol Group, started in 2012 and offers solar EPC services across the world. To date, the company has a record of over 770 MW capacity of installed solar energy through ground-mounted and rooftop systems. In addition to solar, Gensol is transforming the Indian electric vehicle (EV) sector with its manufacturing unit in Pune, where 30,000 electric three-wheelers and four-wheelers can be produced every year, It furthermore offers comprehensive EV leasing solutions covering passenger, fleet and cargo services. The company has so far leased over 3,000 EVs and is expanding rapidly.

Gensol aims to transition its clean energy and electric mobility vision to India for a sustainable future.