Inventory Market At this time: Shares of main renewable power firm Gensol Engineering defied weak market sentiment and rose over 2 per cent on Wednesday, December 18 following a significant mission announcement.
The corporate knowledgeable exchanges at the moment that it has secured its first massive turnkey mission photo voltaic mission from a number one metal merchandise producer in Punjab. Valued at ₹88 crore, the mission includes the event of a 22 MW ground-mounted photo voltaic PV energy plant. The mission, set to be accomplished inside six months, will leverage superior bi-facial photo voltaic modules, aimed toward maximising power output and sturdiness.
“This vital mission is a testomony to Gensol’s rising experience… It’s going to play an important function in advancing India’s clear power transition,” stated Shilpa Urhekar, Chief Government Officer, Photo voltaic EPC (India), Gensol Engineering.
The awarding of this contract to Gensol highlights the corporate’s rising experience and confirmed observe file of delivering renewable power tasks on time, the change submitting acknowledged.
Share Worth Influence
Gensol Engineering’s share value was buying and selling within the inexperienced, up 0.56 per cent at ₹776.05 at 12:51 pm on the BSE. The inventory hit the day’s excessive of ₹788.50. The corporate enjoys a market capitalisation of ₹2,939.13 crore as per BSE.
Gensol Engineering’s photo voltaic engineering, procurement, and building (EPC) order ebook stood at ₹4,097 crore as of September 30, 2024. This portfolio, representing 1.5 GW of photo voltaic tasks, consists of contracts from each private and non-private sector purchasers, with execution timelines spanning 12 to 18 months.
The corporate’s complete order ebook as of the identical date reached ₹9,055 crore, encompassing tasks throughout three key segments, photo voltaic EPC, battery power storage programs (BESS), and solar energy era.
Driving on this sturdy order ebook, Gensol recorded a big 58% year-over-year improve in income in the course of the second quarter of FY25. Income from operations surged to ₹314 crore in Q2FY25, up from ₹199 crore in the course of the corresponding quarter final yr.
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