Gensol engineering have declared their financial results for the first quarter of 2024-25. Their consolidated total revenue for the period stands at Rs 2.97 billion, showing an increase of 105 per cent Year-on-Year (YoY) on the previous year’s revenue at Rs 1.45 billion. Their EBITDA presents a 143 per cent increase to reach Rs 890 million. Compared to Rs 100 million in Q1 of FY 2024, the profit after tax (PAT) stood at Rs 150 million witnessing a growth of 50 per cent. Their total order book including solar, BESS and EV, stands at Rs 50.25 billion.
The standalone revenue of Gensol grew by 87 per cent YoY and reached Rs 2.75 billion in Q1 of FY 2025. In the same time period, their PAT was Rs 330 million.
In July 2024, the company received a Notification of Award for engineering, procurement and construction (EPC) for the solar plant in Khavda renewable energy power park in Gujarat to be constructed for Rs 4.63 billion. In June 2024, they bagged 250 MW/ 500 MWh standalone battery energy storage system (BESS) tender, Phase III, worth Rs 13.4 billion. Further, they were awarded an additional 250 MW/500 MWh through the greenshoe option, expanding the standalone BESS project to a total of 500 MW/ 1,000 MWh. The project is expected to generate a total revenue of Rs 26.85 billion.
