Gensol Engineering Limited just dropped some serious news. They totally smashed their financial goals in FY24. Like, their revenue blew up by 147%, hitting ₹996 crore, up from ₹403 crore last year. And their profit after tax (PAT) shot up 129%, landing at ₹53 crore. That’s not all – their earnings per share (EPS) spiked a wild 144% to ₹15.80. Talk about a glow-up.
So, let’s break it down. For Q4FY24 alone, their revenue jumped to ₹412 crore, up from ₹167 crore in Q4FY23. Their EBITDA for the quarter rocketed by 188%, reaching ₹92 crore, compared to just ₹32 crore the previous year. And their profit before tax (PBT) for Q4 went from ₹11 crore last year to ₹29 crore this year. Basically, they’re on fire.
Anmol Singh Jaggi, the Managing Director, is hyped about these numbers. He says the massive growth shows how Gensol is slaying it in the Solar EPC sector, handling everything from ground-mounted to floating solar projects all over India. They’re also making big moves with acquisitions like Scorpius Trackers and breaking into new markets like the Middle East and energy storage systems (BESS). Plus, they’re diving deep into EV leasing and manufacturing, promising a future full of innovations and sustainable growth.
In other news, Gensol’s standalone revenue soared by 149% to ₹944 crore, and their standalone PAT went up by 221% to ₹80 crore. But there’s more – they’ve got a new subsidiary called Let’sEV for EV leasing, and their EV manufacturing plant in Pune is ready to roll out 30,000 vehicles a year. They even got the green light from the Automotive Research Association of India in February 2024.
And check this out, they’ve secured some major deals too. They won their first Battery Energy Storage System (BESS) project with Gujarat Urja Vikas Nigam Limited, which will bring in about ₹450 crore over 12 years. They also snagged a massive 100 MW turnkey EPC order from a big power utility in Maharashtra and a 50 MWp order from Sarda Energy & Minerals Ltd.
But it’s not just about the numbers. Gensol is all about making big, bold moves to secure a bright, sustainable future. They’ve got over 500 employees working hard, and they’ve successfully installed over 770 MW of solar power capacity. Plus, they’re taking on the EV market with both three-wheelers and four-wheelers, aiming to revolutionise urban mobility in India.
