Gensol Engineering Ltd bags orders for solar power projects

Gensol Engineering Ltd has in the month of December, 2021, in normal course of business, received purchase orders from reputed clients for the development of solar power projects aggregating to a capacity of around 10.7 MWp in the states of Gujarat, Karnataka and Madhya Pradesh. The cumulative order value of these projects is pegged at over Rs 22.50 Crores (Indian Rupees Twenty-Two Crores and Fifty Lakhs Only) exclusive of taxes. Out of the total ordered capacity, rooftop projects totalling to around 6.3 MWp are turn-key EPC contracts, while the 4.4 MWp ground-mount project is for execution of balance of systems (without modules and inverters)

While most of the projects are for captive use of the clients, one of the projects is for third-party sale in the state of Gujarat. All these projects are slated for commissioning before 31st March 2022 and will entail a cumulative revenue of over Rs. 22,50,00,000.00 (Indian Rupees Twenty-Two Crores and Fifty Lakhs Only) exclusive of taxes.

As of 29th December 2021, the cumulative order book stands at more than Rs. 131.00 Crores (One Hundred Thirty-One Crores Only) following the closure of these projects.

Shares of Gensol Engineering Ltd was last trading in BSE at Rs. 82.10 as compared to the previous close of Rs. 68.45. The total number of shares traded during the day was 53200 in over 23 trades.

The stock hit an intraday high of Rs. 82.10 and intraday low of 71.55. The net turnover during the day was Rs. 4236528.00.

Source : Equity Bulls

Keywords

GensolEngineering INE06H201014 OrderWin SolarPowerProjects