Gensol Engineering Limited (BSE: 542851, NSE: GENSOL) (“Gensol” or the “Company”), a leading player in the renewable energy sector specialising in solar power engineering, procurement, and construction (EPC) services and electric mobility solutions, recorded its highest ever revenue from operations, surpassing Rs. 960 Crores (provisional and unaudited) in the financial year ending on March 31, 2024. This remarkable achievement represents an extraordinary growth rate of 141% compared to the previous financial year.
The corresponding figure for the previous year was at Rs. 398 Crores.
Gensol’s exceptional performance emphasises its position as a frontrunner in the industry, demonstrating its ability to capitalise on emerging opportunities and deliver value to its stakeholders.
Upon achieving this notable revenue in FY24, Mr. Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering Ltd. said, “This financial performance of the company reflects robust and commendable growth trajectory exceeding the guidance given in our last earnings conference call in January 2024. This achievement solidifies our status as a frontrunner in the renewable energy industry, emphasising our unwavering commitment to growth. I thank all the shareholders, customers and the Gensol family for their continued support that is vital to our success, and we remain dedicated to delivering value and sustainable growth.”
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About Gensol Engineering Limited:
Established in 2012, Gensol Engineering Limited, the flagship company within the Gensol group, specialises in engineering, procurement, and construction (EPC) services, focusing on the solar power sector. Boasting a robust team of over 240 professionals, Gensol has demonstrated expertise in executing turnkey projects globally, having installed both ground-mounted and rooftop solar installations totalling more than 600 MW. Venturing beyond solar, Gensol has established a state-of-the-art electric vehicle (EV) production facility in Pune, India, dedicated to crafting electric three-wheelers and four-wheelers. Gensol EV have received approval from the Automotive Research Association of India (ARAI). In pursuit of revolutionising India’s EV landscape, Gensol not only manufactures but also provides comprehensive EV leasing solutions, catering to a diverse clientele that includes PSUs, educational institutions, government entities, multinational corporations, ride-hailing services, employee transport companies, rental services, logistics, and last-mile delivery enterprises. Recently, Gensol acquired Scorpius Trackers, an innovative and worldclass bankable solar tracking technology company primarily engaged in the design, development, marketing, and servicing of single-axis trackers for solar power generation, to enhance its offerings in the renewable energy sector.
