Gensol Engineering revenue rises 141 pc to Rs 960 crore in FY24

Gensol Engineering announced a record-breaking revenue of Rs 960 crores in FY24, marking a 141% YoY growth. The company surpassed its previous revenue of Rs 398 crore, solidifying its position in the renewable energy industry. Chairman Anmol Singh Jaggi expressed pride in the company's performance and commitment to growth in solar power development.

Gensol Engineering on Wednesday said it has recorded the highest-ever revenue of Rs 960 crores in FY24 with a growth of 141 per cent Year on Year (YoY). The corresponding (revenue) figure for the previous year was at Rs 398 crore, a company statement said.

According to the statement, 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.

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.'' This achievement solidifies our status as a frontrunner in the renewable energy industry, emphasising our unwavering commitment to growth, he said.

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.

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