Gensol Engineering Limited, a prominent company in renewable energy and electric mobility, has reported exceptional financial performance for the quarter ending June 30, 2024 (Q1 FY25). The company recorded an 87% year-over-year (YoY) increase in standalone revenue, reaching ₹275 crore, compared to ₹147 crore in the same period last year. EBITDA soared by 143% YoY to ₹90 crore, with a margin improvement to 32.7% from 25.2% the previous year. Profit Before Tax (PBT) more than doubled, rising 157% to ₹43 crore, while Profit After Tax (PAT) jumped by 165% to ₹32.5 crore, achieving a PAT margin of 11.8%.
On a consolidated basis, Gensol’s revenue surged 105% to ₹297 crore, up from ₹145 crore in Q1 FY24. EBITDA increased by 143% YoY to ₹89 crore, with a margin of 30.0%. Consolidated PBT grew by 86% to ₹27 crore, and PAT increased by 50% to ₹15 crore. The company’s net debt to equity ratio stood at 1.86x as of June 30, 2024. The consolidated PAT of ₹15.1 crore reflects the impact of subsidiaries in solar trackers and e-mobility, which collectively accounted for ₹17.4 crore. Despite this, Gensol’s standalone PAT remains strong, with a margin of 11.8%.
Anmol Singh Jaggi, Chairman and Managing Director of Gensol Engineering Ltd., expressed pride in the company’s strong performance in Q1 FY25. He emphasized the company’s commitment to expanding in solar energy, Battery Energy Storage Systems (BESS), and EV leasing—areas poised for significant growth. Jaggi highlighted the rapid expansion of the renewable energy sector, driven by increasing demand for sustainable solutions and favorable government policies, as key factors positioning Gensol for future opportunities. He reiterated Gensol’s dedication to contributing to India’s energy transition goals through continued investments in these emerging segments.
Gensol Engineering Ltd is an Indian company that specializes in offering a wide range of engineering, procurement, and construction (EPC) services within the renewable energy sector, with a particular focus on solar energy. Founded in 2012, Gensol Engineering has grown rapidly, providing end-to-end solutions for the design, installation, and maintenance of solar power projects across India and internationally.
The company is known for its expertise in project management, solar consultancy, and operational services, making it a key player in driving the adoption of solar energy. Gensol Engineering’s commitment to sustainability and innovation has helped it become a trusted partner for clients seeking efficient and cost-effective renewable energy solutions.
