Gensol Engineering’s shares experienced a locked 5 percent upper circuit early on April 3 following the company’s announcement of achieving its highest-ever revenue from operations, surpassing Rs 960 crore.
The remarkable growth of over 141 percent from the previous fiscal year’s revenue of Rs 398 crore was disclosed by the company in a press release.
In recent updates, Gensol Engineering revealed through bourses that its subsidiary, Scorpio Trackers, reached a significant milestone by securing contracted orders exceeding 1,000 MW across India, Japan, Saudi Arabia, and Uganda. Notable clients in their portfolio include ReNew, Hero Future, Shapoorji, Tata Power, Engine, Sterling Wilson, Azure Power, and Kosol Energy.
Additionally, the company highlighted its achievement of the highest performing tracker generation at a commercial and industrial site with Ajanta Clocks in Gujarat, achieving over 21L units per MWp using mono facial modules.
Over the course of the past year, investors in Gensol Engineering have witnessed a remarkable surge in the company’s shares, with an impressive increase of over 151%. This upward trajectory extends to the year-to-date (YTD) performance as well, as Gensol shares have risen by 11%. What’s more, the shares have exhibited resilience by bouncing back from their year-to-date lows in March, marking an impressive recovery of more than 24%.
Gensol Engineering has solidified its position as a key player in the renewable energy sector, carving a niche for itself with expertise in solar power engineering, procurement, and construction (EPC) services. Additionally, the company has diversified its offerings to include electric mobility solutions, further enhancing its relevance in the rapidly evolving energy landscape.
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