Gensol Engineering registers revenue growth of 141% YoY in FY24

Gensol Engineering, which offers Engineering, Procurement, and Construction (EPC) services, has recorded the highest-ever revenue of Rs 960 crores in FY24 with a growth of 141 per cent Year on Year (YoY). According to an exchange filing, the corresponding (revenue) figure for the previous year was at Rs 398 crore.

"Gensol Engineering Ltd recorded its highest-ever revenue from operations, surpassing Rs 960 crore (provisional and unaudited) in the financial year ending on March 31, 2024," the company said in an exchange filing. 

This represents a growth rate of 141 per cent compared to the previous financial year, it stated.

Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering Ltd, said in the statement, "This financial performance of the company reflects a robust and commendable growth trajectory exceeding the guidance given in our last earnings conference call in January 2024."

Established in 2012, Gensol Engineering Ltd is a part of the Gensol group of companies, which offers Engineering, Procurement, and Construction (EPC) services for the development of solar power plants.

Over the years, Gensol has installed ground-mounted and rooftop solar power plants with a combined capacity of over 600 MW.

The company has also established an electric vehicle (EV) manufacturing facility in Pune.

With PTI inputs