Gensol Engineering gets Rs153 crore worth of orders; stock spurts ~5%

26 Aug 2022 , 10:49 AM

Gensol Engineering Limited has secured orders to construct solar power plants with a total capacity of 55.8 MWp.

In the normal course of business, Gensol Engineering Limited received purchase orders from reputable clients in the month of August 2022 for the development of solar power projects totalling approximately 55.8 MWp in the states of J&K, Gujarat, Punjab, Rajasthan, Tamil Nadu, and Telangana, the company informed. 

Five of the seven transactions concluded by Gensol are full turn-key EPC projects, while the other two are Balance of System (BoS) projects. Similarly, while four projects will be built on land, the remaining three will be built on the rooftops of the clients’ factories.

Excluding taxes, the total cost of these projects is Rs153.16 crore.

It is worth noting that four clients have renewed their orders with Gensol out of the seven projects, demonstrating the confidence that the firm has earned with its clients via the delivery of high-quality solar assets.

At around 10.51 AM, Gensol Engineering was trading 5% higher at Rs1,706.55, against previous close of Rs1,625.40 on BSE. So far, it hit intraday high and low of Rs1,706.55 and Rs1,660.35 respectively.

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