27 Dec , 2024 By : Debdeep Gupta
Shares of Gensol Engineering Ltd. witnessed a sharp rise today, currently trading at Rs 756.00, up by 6.52 percent, on the back of a significant contract win. As per an exchange filing, the company has secured an EPC contract from NTPC Renewable Energy worth approximately Rs 897.47 crore (including GST).
This contract entails the development of 225 MW Grid Connected Solar PV Projects at GSECL Solar Park (Stage-III) in Khavda, Gujarat. The total bid value of the project includes three years of O&M. As per media reports, the contract between NTPC REL and Gensol Engineering was finalized last week.
Over one month, the stock has lost 11.4 percent of its value.
The company specializes in solar power engineering, procurement, and construction (EPC) services. Shilpa Urhekar, CEO of Solar EPC (India) at Gensol, expressed her delight at securing the contract: "We are thrilled to announce that we have been awarded the prestigious PV project contract by NTPC Renewable Energy Limited (NTPC REL) at GSECL SOLAR PARK (STAGE-III), located in the Rann of Kutch, Gujarat. This collaboration demonstrates the belief in Gensol’s leadership in project management proficiency and renewable expertise."
As of recent, the company has also secured another 22 MW Ground Mount Solar PV Project from a leading steel products company in Punjab.
Gensol Engineering Ltd's performance as per Q2FY25 results registered a total income of Rs 346.82 crore and net profit after tax climbing 29 percent year-on-year to Rs 29.38 crore. While expenses decreased and operating profit margins improved, a significant increase in interest costs led to a decline in the operating profit-to-interest ratio.
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