Bonus Issue: Small Cap Engineering Stock Hits Back-To-Back Upper Circuit, Soars 2582% In 2-Yrs

Shares of small cap engineering sector company Gensol Engineering hit 5% back-to-back upper circuit soon after the company informed the exchange that its board is planning to issue bonus share in its board meeting on September 5, 2023. Gensol Engineering shares surged soared 80% in last 3-months, surged 113% in last 6-months, and gained 2582% in last 2-years. The company's EBITDA surged 179% YoY. Check details below:

Gensol Engineering Board To Issue Bonus Share In Upcoming Meeting: According to the BSE filing of Gensol Engineering dated August 31, 2023, "meeting of Board of Director of the Company will be held on Tuesday, September 05, 2023, inter-alia; (i) To issue bonus shares. (ii) To consider and approve the Board's Report for the financial year 2022-23 (iii) To appoint M/s. R J & Associates as Cost Auditor for the purpose of cost audit for financial year 2023 - 2024 (iv) To consider and approve the notice of 11th Annual General Meeting (v) Any other matter with the permission of chair."

Gensol Engineering Stock Outlook & Return: Current market price of Gensol Engineering share is Rs 1923.15 apiece with intraday gain of 5.00%. The stock hit upper limit of the circuit on August 31 and September 1, 2023. Its 52-week high price is Rs 1990.00 apiece and 52-week low price is Rs 797.05 apiece, respectively. The company's market capitalisation is Rs 2349.88 crore. Gensol Engineering shares witnessed a surge of 2702% in last 3-years but fell 2.65% in last 1-year.

Gensol Engineering Financials: The company on August 14, 2023 announced its net profit at Rs 10.2 crore for the quarter ended June 30, 2023. It declared Rs 10 crore net profit in the preceding fiscal, said company in its BSE filing. Gensol Engineering announced a surge in its revenues to Rs 151.7 crore in the first quarter of the current fiscal from Rs 102.9 crore in the last fiscal. Its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) announced at Rs 43.7 crore, up from Rs 15.7 crore.

Anmol Singh Jaggi, Gensol Engineering Managing Director said, we announced a healthy performance this quarter with consolidated revenue growth of 47% and EBITDA growth of 179% year-on-year (YoY) with strong order book and a healthy pipeline of projects," Gensol Engineering Managing Director Anmol Singh Jaggi said.