Gensol Engineering records Q3 Net profit soars 748%

27 Jan 2024 CW Team

The company's total revenue for Q3 reached Rs 2.27 billion (~$27.3 million), reflecting an impressive YoY growth of 335% from Rs 522 million (~$6.3 million). Notably, the revenue from the EPC segment contributed Rs 1.7 billion (~$20.4 million), indicating a substantial YoY increase of 386%.

The Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA) witnessed substantial growth, soaring by 312% YoY to Rs 700 million (~$8.4 million) from Rs 170 million (~$2 million). As of December 2023, Gensol boasts an order book valued at over Rs 10 billion (~$120.2 million).

For the first nine months (9M) of FY 2024, Gensol posted a net profit of Rs 337 million (~$4.05 million), marking an impressive 111% YoY increase from Rs 160 million (~$1.9 million). The company's total revenue for 9M stood at Rs 5.84 billion (~$70.2 million), indicating a robust 147% YoY growth from Rs 2.36 billion (~$28.4 million). The solar EPC segment contributed significantly, bringing in Rs 4.53 billion (~$54.5 million) with a noteworthy YoY increase of 121%. EBITDA for 9M grew by 238% YoY to Rs 1.69 billion (~$20.3 million) from Rs 500 million (~$6 million).

Gensol Engineering has also secured financial backing, receiving approval for a Rs 5.13 billion (~$61.72 million) loan from the Indian Renewable Energy Development Agency. This funding will support the company's EV Lease business, specifically to finance 3,800 electric vehicles.

Recent notable achievements include securing an EPC contract for a 33 MW captive solar power project from Sarda Energy and Minerals and winning an EPC contract from NHPC for a green hydrogen-based mobility station in Kargil, Ladakh. Additionally, Gensol secured a Rs 3.02 billion (~$36.3 million) contract from Maharashtra State Power Generation Company to construct a 62 MW grid-connected solar project in October. The company will undertake the EPC responsibilities for this project.

Gensol Engineering, an engineering and consulting firm, recorded a remarkable performance in the third quarter (Q3) of the fiscal year 2024, reporting a net profit of Rs 123.1 million (~$1.5 million). This marked a substantial 748% year-over-year (YoY) increase from a net loss of Rs 19 million (~$228,578). The surge in net profit is attributed to a substantial rise in solar engineering, procurement, and commissioning (EPC) orders during this period. The company's total revenue for Q3 reached Rs 2.27 billion (~$27.3 million), reflecting an impressive YoY growth of 335% from Rs 522 million (~$6.3 million). Notably, the revenue from the EPC segment contributed Rs 1.7 billion (~$20.4 million), indicating a substantial YoY increase of 386%. The Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA) witnessed substantial growth, soaring by 312% YoY to Rs 700 million (~$8.4 million) from Rs 170 million (~$2 million). As of December 2023, Gensol boasts an order book valued at over Rs 10 billion (~$120.2 million). For the first nine months (9M) of FY 2024, Gensol posted a net profit of Rs 337 million (~$4.05 million), marking an impressive 111% YoY increase from Rs 160 million (~$1.9 million). The company's total revenue for 9M stood at Rs 5.84 billion (~$70.2 million), indicating a robust 147% YoY growth from Rs 2.36 billion (~$28.4 million). The solar EPC segment contributed significantly, bringing in Rs 4.53 billion (~$54.5 million) with a noteworthy YoY increase of 121%. EBITDA for 9M grew by 238% YoY to Rs 1.69 billion (~$20.3 million) from Rs 500 million (~$6 million). Gensol Engineering has also secured financial backing, receiving approval for a Rs 5.13 billion (~$61.72 million) loan from the Indian Renewable Energy Development Agency. This funding will support the company's EV Lease business, specifically to finance 3,800 electric vehicles. Recent notable achievements include securing an EPC contract for a 33 MW captive solar power project from Sarda Energy and Minerals and winning an EPC contract from NHPC for a green hydrogen-based mobility station in Kargil, Ladakh. Additionally, Gensol secured a Rs 3.02 billion (~$36.3 million) contract from Maharashtra State Power Generation Company to construct a 62 MW grid-connected solar project in October. The company will undertake the EPC responsibilities for this project.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Infrastructure Transport

30 May 2026

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Infrastructure Urban

30 May 2026

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..