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Green Energy Stock in Focus: Gensol Engineering

With the share price settled at INR 1,054.65, today's focus is on Gensol Engineering Ltd. a part of the Gensol Group of companies that offers EPC services for the development of solar power plants.

June 14, 2024. By Abha Rustagi

The transition to sustainable energy solutions has become a focal point in the dynamic world of finance, with green energy stocks taking center stage.

As the global economy acknowledges the imperative of addressing climate change and reducing carbon emissions, investors are increasingly turning their attention towards companies that are leading the charge towards renewable energy.

With the share price settled at INR 1,054.65, today's focus is on Gensol Engineering Ltd. a part of the Gensol Group of companies that offers Engineering, Procurement and Construction (EPC) services for the development of solar power plants.

Gensol Engineering recently announced its annual results for the fiscal year 2023-24 (FY24) and the fourth quarter (Q4 FY24). The company reported a profit after tax (PAT) of INR 34.82 crore compared to INR 8.48 crore, a 310 percent rise, in the corresponding quarter of the previous year. This substantial increase in net profit underscores the company's strong performance driven by higher revenues. On a quarter basis also, the profit almost doubled from INR 17.54 crore. For the complete year, the firm saw a rise in profit from INR 34.55 crore to INR 108.02 crore.

As of March 2024, Gensol Engineering boasted an order book valued at INR 1,783 crore, with INR 1,448 crore worth of orders specifically from the solar segment. The firm generated a total revenue of INR 904 crore for FY24, representing a 143 percent increase from INR 371 crore in FY23, making a Profit Before Tax (PBT) of INR 108 crore, a notable increase from INR 34.55 crore in FY23, indicating a 212 percent growth.

With a market capitalization of INR 4,039 crore and a 52-week trading range that peaked at INR 1376.00 and dipped as low as INR 436.75, Gensol Engineering's future appears promising. The company is poised for growth, backed by strategic initiatives and operational performance.

For investors eyeing the green energy market, Gensol Engineering is certainly worth keeping an eye on. 

Stay tuned to Energetica India for more updates on Gensol Engineering and other green energy stocks driving the future of sustainable investing.
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