Gensol Engineering Ltd. shares trade at 5% upper circuit as the company records the highest-ever revenue from operations of Rs. 960 Crores (provisional and unaudited) in the financial year 2023-24, i.e. a growth of 141% Year-on-Year.

This marks a remarkable growth rate of 141% compared to the previous year, which was at Rs 398 crore. Gensol’s exceptional performance highlights its position as an industry leader, showcasing its ability to capitalise on emerging opportunities and deliver value to its stakeholders.

In the financial year ending on March 31, 2024, Gensol Engineering Limited, a major player in the renewable energy sector specialising in solar power engineering, procurement, and construction (EPC) services and electric mobility solutions, achieved this zenith.

Gensol recently acquired Scorpius Trackers, a bankable solar tracking technology company engaged in the design, development, marketing, and servicing of single-axis trackers for solar power generation, enhancing its offerings in the renewable energy sector.

Established in 2012, Gensol Engineering Limited is the flagship company within the Gensol group, specialising in engineering, procurement, and construction (EPC) services with a focus on the solar power sector.

With a team of over 240 professionals, Gensol has expertise in executing turnkey projects globally and has installed both ground-mounted and rooftop solar installations totalling more than 600 MW.

In addition to solar, Gensol has established a state-of-the-art electric vehicle (EV) production facility in Pune, India, dedicated to crafting electric three-wheelers and four-wheelers. Gensol EV has received approval from the Automotive Research Association of India (ARAI).

To revolutionise India’s EV landscape, Gensol not only manufactures but also provides comprehensive EV leasing solutions, serving diverse clients, including PSUs, educational institutions, government entities, multinational corporations, ride-hailing services, employee transport companies, rental services, logistics, and last-mile delivery enterprises.

At 12:57 pm, the shares of Gensol Engineering were locked at 5.00% upper circuit and were trading at Rs 948.25 on NSE.