A solar company’s stock rose 2 percent following the unveiling of its first electric vehicle, EZIO, at the Bharat Mobility Expo. This marks a significant step in the company’s diversification into the electric vehicle sector, signaling its commitment to sustainable mobility solutions.
Price Variation
In Monday’s trading session, Gensol Engineering Limited’s share price soared 3.19 percent to an intra-day high of Rs.771.10 per share, up from the previous close of Rs.757.95 apiece. The price has since retreated and is currently trading at Rs.762.85 per share.
What is the news
Gensol Electric Vehicles Pvt. Ltd. (GEVPL), a subsidiary of Gensol Engineering Ltd. is excited to showcase its first electric vehicle, EZIO, at the Bharat Mobility Global Expo 2025, held from January 17 to 22, 2025, at Bharat Mandapam, New Delhi.
EZIO, a compact, 2-door, 2-seater EV, integrates advanced technology with sustainability and space efficiency. This marks Gensol Electric’s entry into the EV sector, offering a future-ready solution for urban mobility in line with India’s decarbonization goals.
Gensol Electric appreciates its shareholders’ support and looks forward to unveiling this landmark achievement in sustainable transportation.
Order Book
Gensol Engineering Ltd. has an unexecuted order pipeline worth Rs.3,400 crore, with contracts under award totaling over Rs.2,000 crore. Additionally, the company has total renewable revenue visibility exceeding Rs.8,300 crore, reflecting strong future growth prospects in the sector.
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Business Segments
Gensol Engineering operates in solar EPC, EV Leasing, and EV Manufacturing. Solar EPC contributes 82.66 percent of revenue, EV Leasing 16.96 percent, and other segments 0.37 percent. EV sales have not yet commenced.
Financial Overview
Turning towards the financials of the company, Gensol Engineering Limited reported Q2 FY25 revenue of Rs.346 crore, up remarkably by 14 percent from Rs.305 crore in the same quarter last year. Profit After Tax (PAT) increased by 53.3 percent to Rs.23 crore, compared to Rs.15 crore in the same period.
Company Profile
Gensol Engineering Limited is a leading company in the renewable energy sector, focusing on solar energy solutions and electric mobility. It specializes in engineering, procurement, and construction (EPC) services.
Written by – Siddesh S Raskar
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