Gensol Engineering Limited on Wednesday announced that it has recorded its highest ever revenue from operations, surpassing Rs 960 crore in the financial year ending on March 31, 2024. This, it said, represents a growth rate of 141 per cent as compared to the previous financial year. The corresponding figure for the previous year was at Rs 398 crore. “Gensol’s exceptional performance emphasises its position as a frontrunner in the industry, demonstrating its ability to capitalise on emerging opportunities and deliver value to its stakeholders,” the company said in a regulatory filing.
Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering Ltd, said, “This financial performance of the company reflects robust and commendable growth trajectory exceeding the guidance given in our last earnings conference call in January 2024. This achievement solidifies our status as a frontrunner in the renewable energy industry, emphasising our unwavering commitment to growth. I thank all the shareholders, customers and the Gensol family for their continued support that is vital to our success, and we remain dedicated to delivering value and sustainable growth.”
Earlier this month, the company had announced the appointment of Kapil K Nirmal as CEO of Gensol Engineering Limited, Middle East to lead its Solar EPC business operations in the region. In his new role, it had said, Kapil K Nirmal will spearhead the region’s expansion for Gensol navigating market complexities, ensuring sustainable growth, and establishing Gensol as a prominent player in the Middle East solar PV sector.
Established in 2012, Gensol Engineering Limited, the flagship company within the Gensol group, specialises in engineering, procurement, and construction (EPC) services, focusing on the solar power sector. Gensol has installed both ground-mounted and rooftop solar installations totalling more than 600 MW.