Multibagger Update: Gensol Engineering reports strong Q4FY22 results; shares freeze at 5 per cent upper circuit!
The scrip has rallied 5 per cent and got locked in the upper circuit at Rs 338.20 per share.
Today, only buyers were seen in the case of Gensol Engineering Ltd as the company announced its financial results. The company announced that it recorded net sales and other operating income of Rs 126.80 crore thereby, posting a growth of 183.89 per cent from Rs 44.66 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 16.84 crore in Q4FY22 as compared to an operating profit of Rs 4.39 crore in Q4FY21. Q4FY22 registered a net profit of Rs 8.80 crore in comparison with the net profit of Rs 2.28 crore in the same quarter of the previous year, surging 285.33 per cent.
Considering the yearly performance, the operating profit of Gensol Engineering Ltd was recorded at Rs 20.90 crore in Q4FY22 as compared to an operating profit of Rs 6.87 crore in Q4FY21. The net profit soared 248.79 per cent to Rs 11.12 crore as against Rs 3.19 crore during the previous year, ending March 2021. On the other hand, net sales rose by 150.77 per cent to Rs 160.41 crore as against Rs 63.97 crore during the previous year ending March 2021.
The scrip has rallied 5 per cent and got locked in the upper circuit at Rs 338.20 per share. The shares of Gensol Engineering Ltd have surged more than 365 per cent in the last six months. Considering on a year-to-date basis, the stock has jumped nearly 184 per cent.
Gensol Engineering Ltd is engaged in the business of solar consulting & EPC. The company's services include solar advisory, solar EPC, solar O&M along with solar monitoring & analysis. It also provides dedicated consultancy services for extra-high voltage (EHV) transmission lines. Gensol’s board has approved migration to the mainboard from SME Exchange. It has achieved financial closure of Rs 267.7 crore for the EV vertical while its current solar book order stands at Rs 187.2 crore. Solar assets deployed by Gensol are helping to reduce emissions of 5,14,500 MT CO2 annually.
Investors should watch out for this counter for the upcoming sessions.