Mukul Agrawal Stock Hit Upper Circuit After Sales Jumps 337% In Q3: Do You Own?

Small-cap firm Gensol Engineering Ltd operates in the consulting services industry. The stock opened on the NSE today at Rs 892.10 per share, with a 5% upper circuit limit. However, investors should be aware that Gensol Engineering is one of Dalal Street's multibagger companies, having risen 140.81% in only a single year. Following the company's fantastic performance for the quarter that ended on December 31, 2023, the stock will be in focus of the market watchers.

On a standalone basis, the company reported revenue from operations of Rs 201.04 Cr during the quarter under review up by 337.51% YoY from Rs 45.95 Cr reported in the year-ago quarter. The company said its net income stood at Rs 209.25 Cr during Q3FY24 up by 330.73% YoY from Rs 48.58 Cr reported in Q3FY23.

Its net expenses stood at Rs 185.82 Cr which was Rs 44.34 Cr in the same quarter of the previous fiscal. Gensol Engineering said its standalone net profit reached Rs 17.54 Cr during the quarter under review against a net loss of Rs 1.07 Cr reported in the year-ago quarter.

For the quarter that ended in December 2023, Gensol Engineering Ltd. (GEL) recorded a consolidated net profit of Rs 12.31 crore. From October to December of the previous fiscal year, 2022-2023-the firm had a net loss of Rs 1.90 crore, it stated in an exchange filing on Monday. From Rs 52.22 crore during the same period last year to Rs 227.12 crore during the quarter under review, the company's total income surged. During the period under review, expenses were Rs 209.71 crore, compared to Rs 48.49 crore during the October-December period of the previous fiscal year.

As a member of the Gensol group of companies, Gensol Engineering provides engineering, procurement, and construction (EPC) services for solar plant development. In Pune, it has also set up an electric vehicle (EV) production plant to create three- and four-wheelers powered by batteries.

During Q3FY24, ace investor Mukul Mahavir Agrawal held 5,70,000 shares of Gensol Engineering in his portfolio which is 1.51% total paid-up share capital of the company.