Stock of Gensol Engineering in action as company shares Q2 updates

Shares of Gensol Engineering are in action today as the company has shared an update for the July-September quarter (Q2 FY2025). The counter opened in the red at Rs 840 against the previous close of Rs 841.50 on the BSE. However, it gained later to touch the high of Rs 865. 

The 52-week high of the stock Rs 1,377.10 and the 52-week low of the counter is 638.11

The company said its revenue from operations surpassed Rs 314 crores (provisional and unaudited) in Q2 FY 25 ending on September 30, 2024 (Q2 FY25). 

This represents a growth rate of 58 per cent compared to the quarter two of the previous financial year. The corresponding figure for the previous year (Q2 FY24) was at Rs 199 Crores.

Earlier, Gensol Engineering has informed exchanges that the company in collaboration with Matrix Gas & Renewables Ltd has secured an order to set up India's first green hydrogen valley project in Pune.

The green hydrogen production plant will be set up on Build Own and Operate (BOO) basis through an electrolysis route, according to a BSE filing.

"Government of India has taken a great step in promoting these Hydrogen Valleys through the Department of Science & Technology (DST). We are going to supply green hydrogen to the specialty chemical sector in Pune, Maharashtra on a round-the-clock basis to develop the green hydrogen economy in India," Anmol Jaggi, Managing Director, Gensol Engineering said.

The Green Hydrogen Valley is being facilitated by National Chemicals Laboratories (NCL), Pune in Kurkumbh region.