Gensol Engg spurts on bagging orders of Rs 501 cr in Feb

Gensol Engineering jumped 4.95% to Rs 978.10 after the company received orders from clients for the development of solar power projects aggregating to a capacity of over 247 MWp worth Rs 501.19 crore in the month of February 2023.

The orders received for development of projects in the states of Andhra Pradesh, Haryana, Gujarat, Jharkhand, Kerela, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Uttarakhand and West Bengal.

The scope of work includes design, engineering, supply, construction, testing, and commissioning of these projects alongwith comprehensive operation and maintenance services after successfully commissioning the plant.

The aggregate order value of all these projects is Rs 501.19 crore. With these additions, the company's total order book stands over Rs 1,025 crore.

Gensol Engineering offers end-to-end EPC and solar advisory services. The company is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.

On a consolidated basis, the company's revenue for H1FY23 stood at Rs 182.80 crore, up by 437% YoY from Rs 34.1 crore in H1FY22. Profit after Tax (PAT) for H1FY23 was at Rs 13.1 crore, up by 465% YoY from Rs 2.3 crore in H1FY22.

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