Gensol Engineering Ltd, a renewable energy and electric mobility player, has announced its consolidated financial achievements for the first half of the financial year 2023-24. The company recorded a revenue of INR 344.03 crore in H1 FY24, an impressive increase of 88% over INR 183.25 crore in H1 FY23. Profit after tax (PAT) grew 24% to INR 22.16 crore in H1 FY24.
Commenting on the overall performance of the Company, Anmol Singh Jaggi, managing director of Gensol Engineering Ltd, said, “Strategic moves like the acquisition of Scorpius Trackers, international foray with EPC projects in UAE, securing a Letter of Intent (LOI) to supply 300 electric vehicles to Orissa Renewable Energy Development Agency, etc highlight our expansion and commitment to innovation. Rewarding our shareholders, we have rolled out a 2:1 bonus share bonanza, doubling down on their trust in us.”
Founded in 2012, Gensol Engineering Limited is a part of the Gensol group of companies, which offers engineering, procurement, and construction (EPC) services for the development of solar power plants. The company manages turnkey projects on an international scale. Over the years, Gensol has installed ground-mounted and rooftop solar power plants with a combined capacity of over 590 MW. Expanding its operations, Gensol has also established a cutting-edge electric vehicle (EV) manufacturing facility in Pune, India, for the development and production of electric three wheelers and four wheelers.
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