According to reports from Gensol Engineering, their order book stands at ₹1,783 crore at the start of FY25. This information was accompanied by an image of an EV battery, with a width of 590 and height of 264, uploaded on the CNBC TV18 website.
On Wednesday, April 10, the stock price of Gensol Engineering Ltd increased by 2% and reached a daily peak of ₹1,012 per share. This was in response to the company’s announcement of a strong order book of ₹1,783 crore at the start of FY25, which will be fulfilled within the next year according to a filing made to the BSE.
According to Gensol Engineering, the company has a substantial order book of ₹1,783 crore at the start of FY25, indicating a positive outlook for the year ahead and reinforcing its role as a major player in the renewable energy and electric mobility sector. The diverse nature of Gensol’s order book demonstrates its participation in various industries, all of which contribute significantly to its overall portfolio.
The given image depicts the logo of Gensol Engineering, which was resized to a width of 360 pixels and adjusted to fit the aspect ratio. This logo was posted on the CNBC TV18 website on 3rd April 2024.
The company has recently received a contract totaling to ₹1,448 crore from Solar EPC, which includes both India and Middle East markets, as well as Scorpius Trackers. Furthermore, they have also been awarded another contract valuing at ₹335 crore from Let’sEV for their EV Leasing business.
According to Anmol Singh Jaggi, the Chairman and Managing Director of Gensol Engineering, the company’s order book for FY25 stands at ₹1,783 crore, indicating a significant increase in the demand for their renewable energy and eMobility solutions.
Our increased number of projects is a testament to the trust that our clients have in our abilities and dedication to providing exceptional results. This accomplishment further establishes our position as a leader in the Solar EPC, Solar tracking, and EV Leasing sectors, demonstrating our commitment to progress. I express my gratitude to all stakeholders and the Gensol team for their ongoing support, which is crucial to our achievements. We remain focused on delivering value and achieving sustainable growth, as stated by the CMD.
In the month of March, Gensol Engineering announced that it achieved its highest revenue from operations, exceeding ₹960 crore in the financial year that concluded on March 31, 2024. This represents a remarkable growth of 141% compared to the ₹398 crore revenue recorded in the previous financial year, 2022-23 (FY23).
In the realm of renewable energy, Gensol stands out as a prominent figure, with a specific emphasis on solar power engineering, procurement, construction services (EPC), and solutions for electric mobility.
At around 11 am, Gensol Engineering’s shares on the NSE were trading at ₹999.90 apiece, marking a 1.13% increase. Throughout the year, the stock has seen a growth of 18%.
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