Gensol Engineering Bags Rs 780 Crore Solar PV Project, Shares To Be In Focus On Monday

Small cap renewable energy and electric mobility pioneer, Gensol Engineering Ltd shares are likely to remain in the limelight on Monday, November 4, 2024. The company today informed via BSE filing about securing Rs 780 Crore Solar PV project from Project from a leading public sector utility in Maharashtra. The order is likely to be executed over a period of 15-month. Gensol Engineering shares closed at Rs 815.50 per share on Bombay Stock Exchange (BSE) on November 1, 2024 with intraday jump of 2.05%. Gensol Engineering shares delivered shareholders returns of 3093% in last 3-years and declined 18% in last 3-months. Check details below:

Gensol Engineering Awarded Large Order

As per the exchange filing of Gensol Engineering dated November 3, 2024, "Gensol Engineering Limited has secured a large turnkey EPC order from a leading public sector utility in Maharashtra. The project involves the development of a 150 MWac ground-mounted solar PV power plant, with a total contract value of INR 780 Crore, is set to be executed over a 15-month period."

Gensol's role will encompass the entire gamut of the project's lifecycle -from the complex and critical task of land acquisition, highlighting the scale and intricacy of the undertaking, to the precise and detailed phases of design, engineering, procurement, and logistics. The scope also includes the manufacturing, supply, erection, inspection, installation, testing, and commissioning of a 150 MWac grid-connected ground-mounted solar PV power plant, along with the development of the associated power evacuation infrastructure to the STU substation, added the exchange filing.

Commenting on the development, Shilpa Urhekar, Chief Executive Officer, Solar EPC (India), Gensol Engineering Ltd. said, " We are deeply grateful for the trust placed in us by one of India's leading public sector utilities. This significant project is a testament to Gensol's growing expertise as a provider of comprehensive, end-to-end solar solutions. It will play a vital role in advancing India's clean energy transition, aligning with our firm commitment to contributing to the right energy mix. We look forward to further collaborating with the state of Maharashtra to support and enhance India's renewable energy goals."

Gensol Shares Performance

The 52-week high price of Gensol Engineering shares on BSE stood at Rs 1377.10 per share (as on 20/02/2024) and 52-week low price is Rs 720.00 per share (as on 11/12/2023), respectively. The company's market capitalisation stood at Rs 3088.53 crore. Gensol Engineering shares declined 11% in last 6-months, zoomed 93% in last 2-years, and offered returns of 3832% in last 5-years.

Gensol Gives Update On Order Book

The company informed today that its Solar EPC - unexecuted order book stood at Rs 4097 crore while 2 Battery Energy Storage System (over 12 years) stood at Rs 3,138 crore. Meanwhile, 3 Solar Power Generation book (over 25 years) stood at Rs 1,820 crore. The total order book stood at Rs 9055 crore.

Shareholding

Promoters have increased holdings from 62.62% to 62.77% in June 2024 quarter. FII/FPI have decreased holdings from 2.39% to 1.98% in June 2024 quarter. Number of FII/FPI investors increased from 13 to 17 in June 2024 quarter. Institutional Investors have decreased holdings from 2.48% to 1.98% in June 2024 quarter, according to Trendlyne.

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 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.

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