Gensol Engineering Eyes Strong Orderbook After Bagging Contracts Worth Rs 1,000 Crore

Gensol Engineering Ltd. expects a robust order pipeline with the addition of a couple of more Rs 1,000 crore contracts in the remaining part of the financial year ending March 2025, the company’s Managing Director Anmol Singh Jaggi told NDTV Profit on Tuesday.

The company started the fourth quarter by securing a Rs 1061.97-crore EPC contract from a public sector undertaking for a 275 MW solar PV project at RE Solar Park in Gujarat.

Jaggi mentioned that Gensol Engineering is in the process of acquiring more fresh orders.

“I think our order book, including energy storage, is about close to Rs 9,000 plus crore. I think we will be able to add a couple of Rs 1,000 crore more to our order book before the quarter ends,” he added. 

Earlier in December 2024, the company had won an EPC contract from NTPC Renewable Energy Ltd., worth Rs 897.47 crore.

“We are bidding well. We are in a very good space, and Gensol will surely win a few more orders in this quarter and the coming quarters,” he said.

“I would want to avoid specifics, but these are not the only two orders that we have won. There are many more which are coming in,” the top executive added.

Jaggi mentioned that Gensol Engineering has a “strong bidding pipeline.”

“In fact, the whole renewable energy sector is doing extremely well. In this, there are a lot of tenders that are coming up. Not just tenders; there is a lot of action on the private side also, where a lot of private IPPs are setting up capacities, and they need good, large EPC contractors like us to execute for them,” he said.

“I am very hopeful that you will hear some more good news in this quarter,” Jaggi added.

The Gensol Engineering MD explained that the two newly secured orders are likely to take 18 months to execute.

“Solar projects of about Rs 1,000 crore plus in range generally take between 15 to 18 months to deliver,” he said. 

Therefore, this would mean that a small revenue quantity will be booked from these two orders in the current quarter, Jaggi mentioned.

“The majority of the revenue from these two orders will be booked in Q2 or Q3 of the coming year. So from these orders, we do not expect any large revenue increment to come in in Q4,” he explained.

Shares of Gensol Engineering Ltd. ended at Rs 756 apiece on Friday, 0.33% higher, while the benchmark Nifty 50 fell 0.37% to 23,440 points. In the past year the stock has been down 10%, while the benchmark Nifty 50 gained 7%.