Gensol Engineering Reports 42% YoY Revenue Growth

13 Feb 2025 CW Team

Gujarat-based Gensol Engineering reported Rs 3.45 billion in consolidated revenue for Q3 FY 2025, marking a 30% year-over-year (YoY) increase from Rs 2.66 billion. Profit after tax (PAT) rose 6% YoY to Rs 180 million, driven by a strong engineering, procurement, and construction (EPC) order book.

EBITDA for the quarter reached Rs 630 million, up 19% YoY from Rs 530 million. However, earnings per share (EPS) stood at Rs 4.46, slightly lower than Rs 4.79 in Q3 FY 2024.

9M FY 2025 performance

For the first nine months (9M) of FY 2025, Gensol’s revenue surged 42% YoY to Rs 10.56 billion from Rs 7.43 billion. PAT increased 34% YoY to Rs 670 million, while EBITDA jumped 89% YoY to Rs 2.46 billion. EPS for the period stood at Rs 20.64, up from Rs 13.66 last year.

Key operational highlights

Gensol Engineering secured several major EPC contracts, including:

Rs 10.62 billion contract for a 275 MW solar project at RE Solar Park, Khavda, Gujarat.
Rs 9.68 billion contract for a 245 MW solar project at the same location.
Rs 8.97 billion contract with NTPC Renewable Energy for a 225 MW solar project at Gujarat State Electricity Corporation Solar Park.

In total, the company secured Rs 29.28 billion worth of EPC contracts in Q3, according to Chairman and Managing Director Anmol Singh Jaggi.

EV expansion and strategic partnership

Gensol Engineering has 30,000 pre-orders for its EZIO micro urban electric vehicle and recently unveiled the EZIBOT cargo EV. In January, the company partnered with Refex Green Mobility to transfer 2,997 electric four-wheelers, supporting sustainable mobility initiatives. Under the partnership, Refex eVeelz will take over Gensol’s Rs 3.15 billion loan, optimise operations, and expand e4W adoption in Chennai, Bengaluru, Hyderabad, Mumbai, and Pune.

(mercom)

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