Gensol Engineering's orders-in-hand rise to Rs531 crore in September; stock zooms ~5%

19 Sep 2022 , 12:28 PM

Gensol Engineering Limited reported that, in the usual course of business, it closed orders from several reputable clients for the construction of solar power projects valued over Rs531 crore until September 18, 2022.

These projects would be constructed across the states/UTs of Andhra Pradesh, Gujarat, Haryana, Jharkhand, Karnataka, Ladakh, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Tamil Nadu, Telangana, and Uttarakhand, totaling more than 121 MWp.

Braithwaite & Co. Limited (BCL), a leading Engineering Company under the Ministry of Railways and a privately-owned leading manufacturer and supplier of industrial gases, Singareni Colleries Company Limited (SCCL), a coal mining company jointly owned by the Government of Telangana and the Government of India, are among the major additions to the Company’s esteemed client list.

The company stated that only two projects in the entire order book are based on the Balance of System (BoS) model, while the remaining projects will be built using a complete turn-key EPC model, demonstrating Gensol’s robust end-to-end project execution capabilities.

More specifically, more than 37% of these orders call for the development of projects in the southern states of AP, Karnataka, Telangana, and Tamil Nadu, with Gujarat close behind at 34%, said the company.

Similarly, 67% of the overall order book must be created on land, with the remainder raised on the rooftops of the clients’ factories. While the project’s highest size is about 25 MWp, the smallest size is around 80 kWp.

As per the company, the total cost of these projects is Rs. 5,31,24,16,761, excluding all taxes.

It is worth mentioning that over 23% of the orders are repeat orders from current clients, demonstrating the confidence that the firm has developed with its clients via the delivery of high-quality solar assets.

At around 12.31 PM, Gensol Engineering was trading 4.64% higher at Rs1,606.30, against previous close of Rs1,535 on BSE. So far, it hit intraday high and low of Rs1,608.95 and Rs1,540.05 respectively.

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