Gensol Engineering Ltd.'s engineering, procurement, and construction order book crossed the Rs 4,000 crore level as of Sept. 30.
The Rs 4,097 crore order book represents 1.5 gigawatts of power supply as of Sept. 30, according to an exchange filing on Tuesday. The figures also encompass solar projects assigned by both public and private clients, scheduled for execution within 12 to 18 months.
Over the past 12 years, the company has received multiple battery energy storage systems, bringing its order book to Rs 3,138 crore, while its order book for solar power generation has reached Rs 1,820 crore.
"With an unexecuted order book of over Rs 4,000 crore, we are poised for a significant leap in India’s rapidly expanding solar sector," according to Anmol Singh Jaggi, chairman and managing director at Gensol Engineering.
"Beyond this, our achievements in battery energy storage systems under the BOO model and power generation have helped diversify our operations and expand our total solar and battery storage revenue visibility to over Rs 9,000 crore," he said.
On Monday, Gensol Engineering appointed Ankit Jain as the chief financial officer with immediate effect.
Jain succeeds Jabir Mahendi Aga, who moves to an expanded leadership role within Gensol Group.
Gensol Engineering's Entry Into The US Market
Gensol Engineering has entered the US market after launching its subsidiary, Scorpius Trackers Inc., in Delaware. Scorpius Trackers' first US office will be located in California.
This will enable the company to leverage the significant potential of the US solar tracker market, which is the largest in the world, with an annual deployment of 25,000 megawatt trackers.
Shares of Gensol Engineering closed 2.04% higher at Rs 803.70 apiece, compared to a 0.88% rise in the benchmark NSE Nifty.
The stock has risen 13.88% in the last 12 months and fell 4.95% year-to-date. The relative strength index was 33.07. No analyst on Bloomberg tracks Gensol Engineering.
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