Gensol Engineering reports order book of Rs 1,783 crore for FY25, shares gain

Shares of Gensol Engineering surged 2.3 percent on April 10 after the firm reported an order book of Rs 1,783 crore for the beginning of FY25.

At 2.50 pm, Gensol Engineering shares were quoting Rs 996.6 on the NSE, up 0.8 percent from the previous session's closing price.

In a filing to the exchanges, Gensol Engineering said this signals "a promising year and solidifying its position as a key player in the renewable energy and electric mobility industry. Gensol’s diverse order book showcases its involvement in multiple sectors, each contributing significantly to its overall portfolio".

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Of the Rs 1,783 crore order book, the EV leasing business, Let’sEV, has an order book value of Rs 335 crore. The company's other segment, Solar EPC, has an order book value of Rs 1,448 crore for FY25.

Anmol Singh Jaggi, MD, Gensol Engineering said, “This order book will be executed over the next 12 months. The uptick in the projects reflects the trust clients have in our capabilities and commitment to delivering excellence. This achievement solidifies our status as a frontrunner in Solar EPC, Solar tracking and EV Leasing industry, emphasising our commitment to growth."

Gensol is a leading player in the renewable energy sector, focusing on solar power engineering, procurement, construction (EPC) services, and electric mobility solutions.

Over the past six months, shares of Gensol Engg have tanked around 60 percent. In comparison, the benchmark Nifty50 has gained about 16 percent during the same time period.

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