Stock Report

Gensol Engineering Ltd's Solar EPC order book crosses INR 4,000 Crore as on 30th September'24

Posted On : 2024-10-09 10:06:27( TIMEZONE : IST )

Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a leading player in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, today announced that its solar EPC order book is INR 4,097 Crore representing 1.5 GW as of 30th September 2024. This substantial figure includes solar projects from both Public Sector Undertakings (PSUs) and private clients, to be executed within a timeline of 12 to 18 months.

Gensol has a strong bid pipeline that far surpasses the current orderbook.

Apart from the solar order book, Gensol has secured orders for Battery Energy Storage Systems (BESS) under the BOO model thereby boosting its revenue potential and reinforcing its commitment to advancing renewable energy, addressing intermittent nature of renewable energy (RE) sector.

Commenting on Order Book, Mr. Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering Limited said: "This robust order book reflects the strength and organizational capability of Gensol Engineering Limited to execute big ticket orders and help the nation achieve its renewable energy goals. With an unexecuted order book of over INR 4,000 Crore, we are poised for a significant leap in India's rapidly expanding solar sector. Beyond this, our achievements in Battery Energy Storage Systems (BESS) under the BOO model and power generation have helped diversify our operations and expand our total solar and battery storage revenue visibility to over INR 9,000 Crore. We are grateful to our stakeholders and the Gensol family for their unwavering support as we continue to deliver long-term sustainable growth."

Shares of Gensol Engineering Ltd was last trading in BSE at Rs. 804.20 as compared to the previous close of Rs. 787.75. The total number of shares traded during the day was 22203 in over 1744 trades.

The stock hit an intraday high of Rs. 808.75 and intraday low of 777.10. The net turnover during the day was Rs. 17709455.00.