Gensol Engineering informed that its solar power engineering, procurement, and construction (EPC) order book stood at Rs 5,424 crore as on 31 October 2024.
This order book includes solar projects from both public sector undertakings (PSUs) and private clients, to be executed within a timeline of 12 to 18 months.Apart from the solar order book, Gensol has secured orders for Battery Energy Storage Systems (BESS) under the BOO model thereby boosting its revenue potential and reinforcing its commitment to advancing renewable energy, addressing intermittent nature of renewable energy (RE) sector.
Anmol Singh Jaggi, chairman and managing director of Gensol said: This robust order book reflects the strength and organizational capability of Gensol Engineering to execute big ticket orders and help the nation achieve its renewable energy goals. With an unexecuted order book of over Rs 5,000 crore, we are poised for a significant leap in Indias rapidly expanding solar sector.
Beyond this, our achievements in Battery Energy Storage Systems (BESS) under the BOO model and power generation have helped diversify our operations and expand our total solar and battery storage revenue visibility to over Rs 10,000 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.
The company's consolidated net profit doubled to Rs 20.48 crore in the quarter ended June 2024 as against Rs 10.24 crore during the previous quarter ended June 2023. Sales rose 104.11% to Rs 295.15 crore in Q1 FY25 over Q1 FY24.
The scrip rose 0.23% to close at Rs 841 on Tuesday, 5 November 2024.
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