+
Gensol Engineering reports 105% revenue growth in Q1 FY25
POWER & RENEWABLE ENERGY

Gensol Engineering reports 105% revenue growth in Q1 FY25

Gensol Engineering has announced a remarkable 105% year-over-year (YoY) increase in revenue for the first quarter of fiscal year 2025, reaching Rs 2.97 billion, up from Rs 1.45 billion in the same period last year. The company's consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) surged 143% YoY to Rs 890 million. Profit before tax (PBT) grew 86% YoY to Rs 270 million, while profit after tax (PAT) increased by 50% YoY to Rs 150 million, despite challenges from new business segments. Highlights: - New Projects: Gensol secured a Rs 4.63 billion solar power project at Gujarat?s Khavda Renewable Energy Park and 116 MW of solar projects under the KUSUM scheme.

- Energy Storage: The company leads in standalone battery energy storage system (BESS) projects with a total awarded capacity of 570 MW/1,140 MWh, expected to generate around Rs 31 billion over a 12-year period.

- Strategic Expansion: Anmol Singh Jaggi, Chairman and Managing Director, emphasised the company's expansion into BESS and electric vehicle leasing, sectors poised for substantial growth due to rising demand for sustainable solutions and supportive government policies.

- Project Execution: Gensol has completed over 770 MW of diverse solar projects and established an electric vehicle manufacturing facility in Pune.

- Quarterly Performance: In the fourth quarter of 2024, the company reported a net profit of Rs 348.2 million, a 310% increase from Rs 84.8 million in the same quarter of the previous year.

- Recent Developments: Gensol recently commissioned a 10.6 MW rooftop solar project for Trident?s Budhni Textile Unit in Madhya Pradesh. Additionally, in February, the company raised Rs 9 billion (~$108 million) in equity capital through convertible warrants, with participation from both international and domestic investors including Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund. (MERCOM)

Gensol Engineering has announced a remarkable 105% year-over-year (YoY) increase in revenue for the first quarter of fiscal year 2025, reaching Rs 2.97 billion, up from Rs 1.45 billion in the same period last year. The company's consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) surged 143% YoY to Rs 890 million. Profit before tax (PBT) grew 86% YoY to Rs 270 million, while profit after tax (PAT) increased by 50% YoY to Rs 150 million, despite challenges from new business segments. Highlights: - New Projects: Gensol secured a Rs 4.63 billion solar power project at Gujarat?s Khavda Renewable Energy Park and 116 MW of solar projects under the KUSUM scheme. - Energy Storage: The company leads in standalone battery energy storage system (BESS) projects with a total awarded capacity of 570 MW/1,140 MWh, expected to generate around Rs 31 billion over a 12-year period. - Strategic Expansion: Anmol Singh Jaggi, Chairman and Managing Director, emphasised the company's expansion into BESS and electric vehicle leasing, sectors poised for substantial growth due to rising demand for sustainable solutions and supportive government policies. - Project Execution: Gensol has completed over 770 MW of diverse solar projects and established an electric vehicle manufacturing facility in Pune. - Quarterly Performance: In the fourth quarter of 2024, the company reported a net profit of Rs 348.2 million, a 310% increase from Rs 84.8 million in the same quarter of the previous year. - Recent Developments: Gensol recently commissioned a 10.6 MW rooftop solar project for Trident?s Budhni Textile Unit in Madhya Pradesh. Additionally, in February, the company raised Rs 9 billion (~$108 million) in equity capital through convertible warrants, with participation from both international and domestic investors including Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund. (MERCOM)

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?