Gensol Engineering Ltd
BSE:542851
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Gensol Engineering Ltd
BSE:542851
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Gensol Engineering Ltd
Gensol Engineering Ltd. provides solar consulting and engineering, procurement and construction services. The company is headquartered in Ahmedabad, Gujarat. The company went IPO on 2019-10-15. The firm also provides concept to commissioning solar advisory, execution and operation services for solar projects. The firm is specialized in offering solar project engineering, procurement, construction and operations. The firm is also a vendor-independent system integrator developer, focusing on customized solar power plant solutions, ranging from reinforced cement concrete (RCC) rooftops, metal-shed rooftops to elevated superstructure rooftops. The firm also offers operations and maintenance services for solar power projects such as spares and warranty management, preventive and scheduled maintenance, tracking & seasonal tilting and monitoring, forecasting and reporting.
Gensol Engineering Ltd. provides solar consulting and engineering, procurement and construction services. The company is headquartered in Ahmedabad, Gujarat. The company went IPO on 2019-10-15. The firm also provides concept to commissioning solar advisory, execution and operation services for solar projects. The firm is specialized in offering solar project engineering, procurement, construction and operations. The firm is also a vendor-independent system integrator developer, focusing on customized solar power plant solutions, ranging from reinforced cement concrete (RCC) rooftops, metal-shed rooftops to elevated superstructure rooftops. The firm also offers operations and maintenance services for solar power projects such as spares and warranty management, preventive and scheduled maintenance, tracking & seasonal tilting and monitoring, forecasting and reporting.
Strong Revenue Growth: Gensol reported a 42% year-on-year revenue increase for the first 9 months of FY '25, reaching INR 1,056 crores.
Profit Expansion: EBITDA rose 89% to INR 246 crores for the 9 months, with margins expanding by 582 basis points to 23.3%. PAT grew 34% year-on-year to INR 67 crores.
Solar EPC Momentum: The company secured several major solar EPC contracts in Q3, boosting the solar EPC order book to INR 7,000 crores as of December 31.
EV Business Progress: The EV leasing asset base reached INR 850 crores, and Gensol showcased new EV variants with 30,000 preorders, though production will ramp up slowly.
Execution Delays: Management cited project execution delays due to extended rains and delayed land handover from customers, impacting guidance but expects growth rate to continue.
Order Book Quality: 80% of the INR 7,000 crore order book is from turnkey projects (higher margin, A-rated customers).
Deleveraging Efforts: Gensol is transferring 2,997 EVs to Refex, which will reduce debt by INR 320 crores and lower promoter share pledge.
Q4 Outlook: Q4 is typically the strongest quarter; management expects better performance and some margin recovery but remains cautious about guidance specificity.
