Gensol Engineering
New to Zerodha? Sign-up for free.
New to Zerodha? Sign-up for free.
Get instant stock alerts
- Share Price
- Financials
- Revenue mix
- Shareholdings
- Peers
- Forensics
Share Price
Coming soon
- 5D
- 1M
- 6M
- YTD
- 1Y
- 5Y
- MAX
Financials
-
Summary
-
Profit & Loss
-
Balance sheet
-
Cashflow
This data is currently unavailable for this company.
| (In Cr.) |
|---|
| (In Cr.) | ||||
|---|---|---|---|---|
|
This data is currently unavailable for this company. |
| (In %) |
|---|
| (In Cr.) |
|---|
| Financial Year (In Cr.) |
|---|
Revenue mix
-
Product wise
-
Location wise
Revenue Mix
This data is currently unavailable for this company.
Revenue Mix
This data is currently unavailable for this company.
Forensics
Recent events
-
News
-
Corporate Actions
Adds resolution professional's comments in paragraphs 9-11
By Khushi Malhotra and Nandan Mandayam
July 29 (Reuters) - Indian electric cab firm BluSmart has entered insolvency, an order from a company law tribunal showed, amid mounting corporate governance issues after a regulatory probe alleged its co-founder diverted funds meant for vehicle leases.
BluSmart suspended operations in April after India's market regulator barred co-founder Anmol Jaggi from the securities market.
The ban followed allegations that Jaggi diverted funds from his publicly listed affiliate, Gensol GENO.NS, for personal use — including the purchase of a $5 million luxury apartment and a golf set worth $30,379.
The National Company Law Tribunal admitted insolvency proceedings against BluSmart following a petition filed by financial creditor Catalyst Trusteeship on May 13, according to the tribunal's order dated July 28.
The insolvency would take effect from the date of the order, marking the formal start of creditor claims, asset evaluation, and potential restructuring or liquidation under the insolvency and bankruptcy code.
The creditor, Catalyst, alleged that BluSmart defaulted on multiple payments totaling 12.8 million Indian rupees (around $147,400), saying it had received no response or repayment from the company, the order showed.
In response, BluSmart argued that the petition was premature.
On Monday, the NCLT appointed NPV Insolvency Professionals as the interim resolution professional to oversee proceedings.
BluSmart's assets are mostly on lease, such as its cabs and charging stations, Ritesh Kumar Adatiya, director, NPV Insolvency Professionals told Reuters.
"The biggest assets as far as Blue Smart Mobility is concerned are the EV charging facilities across the country. Those readily available charging facilities may attract some investors," Adatiya said.
However, recovering dues worth more than 10 billion rupees "seems unlikely at this point in time," he said.
The interim resolution professional must submit a plan to revive the company in 180 days from the date of the order. It can also seek an additional 90 days to draft a plan.
($1 = 86.8160 Indian rupees)
(Reporting by Khushi Malhotra and Manvi Pant; Editing by Janane Venkatraman and Shailesh Kuber)
(([email protected]; +918447554364;))
Adds resolution professional's comments in paragraphs 9-11
By Khushi Malhotra and Nandan Mandayam
July 29 (Reuters) - Indian electric cab firm BluSmart has entered insolvency, an order from a company law tribunal showed, amid mounting corporate governance issues after a regulatory probe alleged its co-founder diverted funds meant for vehicle leases.
BluSmart suspended operations in April after India's market regulator barred co-founder Anmol Jaggi from the securities market.
The ban followed allegations that Jaggi diverted funds from his publicly listed affiliate, Gensol GENO.NS, for personal use — including the purchase of a $5 million luxury apartment and a golf set worth $30,379.
The National Company Law Tribunal admitted insolvency proceedings against BluSmart following a petition filed by financial creditor Catalyst Trusteeship on May 13, according to the tribunal's order dated July 28.
The insolvency would take effect from the date of the order, marking the formal start of creditor claims, asset evaluation, and potential restructuring or liquidation under the insolvency and bankruptcy code.
The creditor, Catalyst, alleged that BluSmart defaulted on multiple payments totaling 12.8 million Indian rupees (around $147,400), saying it had received no response or repayment from the company, the order showed.
In response, BluSmart argued that the petition was premature.
On Monday, the NCLT appointed NPV Insolvency Professionals as the interim resolution professional to oversee proceedings.
BluSmart's assets are mostly on lease, such as its cabs and charging stations, Ritesh Kumar Adatiya, director, NPV Insolvency Professionals told Reuters.
"The biggest assets as far as Blue Smart Mobility is concerned are the EV charging facilities across the country. Those readily available charging facilities may attract some investors," Adatiya said.
However, recovering dues worth more than 10 billion rupees "seems unlikely at this point in time," he said.
The interim resolution professional must submit a plan to revive the company in 180 days from the date of the order. It can also seek an additional 90 days to draft a plan.
($1 = 86.8160 Indian rupees)
(Reporting by Khushi Malhotra and Manvi Pant; Editing by Janane Venkatraman and Shailesh Kuber)
(([email protected]; +918447554364;))
NEW DELHI, June 18 (Reuters) - The Financial Reporting Review Board (FRRB) will complete its probe into audit reports of Gensol Engineering GENO.NS and IndusInd Bank INBK.NS within six months, the president of the country's audit watchdog said Monday.
"The FRRB will scrutinise all audit documentation to determine if any issues exist and will submit its report within six months,” said Charanjot Singh Nanda, President of the Institute of Chartered Accountants of India (ICAI).
Gensol Engineering is facing regulatory action amid concerns that it may have diverted business funds raised for personal purchases.
India’s markets regulator in April barred Gensol Engineering’s founders from the securities markets, alleging that they routed company funds to related parties and used them for unrelated expenses, treating the company’s funds as a “promoters’ piggybank.”
Promoters in Indian markets are large shareholders who can influence company decisions.
If the review finds audit reports fail to present a true and fair view, the FRRB may refer the matter to ICAI's disciplinary committee for appropriate action against auditors, Nanda told reporters in New Delhi.
Separately, IndusInd Bank disclosed in March that years of incorrect accounting of internal derivative trades led to a $230 million hit to its accounts for the financial year ended March 31.
An internal audit of its microfinance business found about $80 million was incorrectly recorded as interest across three quarters, which it reversed in January.
(Reporting by Manoj Kumar and Jayshree P Upadhyay; Editing by Tasim Zahid)
(([email protected]; +919810286200; Twitter:@manojgulnar;))
NEW DELHI, June 18 (Reuters) - The Financial Reporting Review Board (FRRB) will complete its probe into audit reports of Gensol Engineering GENO.NS and IndusInd Bank INBK.NS within six months, the president of the country's audit watchdog said Monday.
"The FRRB will scrutinise all audit documentation to determine if any issues exist and will submit its report within six months,” said Charanjot Singh Nanda, President of the Institute of Chartered Accountants of India (ICAI).
Gensol Engineering is facing regulatory action amid concerns that it may have diverted business funds raised for personal purchases.
India’s markets regulator in April barred Gensol Engineering’s founders from the securities markets, alleging that they routed company funds to related parties and used them for unrelated expenses, treating the company’s funds as a “promoters’ piggybank.”
Promoters in Indian markets are large shareholders who can influence company decisions.
If the review finds audit reports fail to present a true and fair view, the FRRB may refer the matter to ICAI's disciplinary committee for appropriate action against auditors, Nanda told reporters in New Delhi.
Separately, IndusInd Bank disclosed in March that years of incorrect accounting of internal derivative trades led to a $230 million hit to its accounts for the financial year ended March 31.
An internal audit of its microfinance business found about $80 million was incorrectly recorded as interest across three quarters, which it reversed in January.
(Reporting by Manoj Kumar and Jayshree P Upadhyay; Editing by Tasim Zahid)
(([email protected]; +919810286200; Twitter:@manojgulnar;))
June 13 (Reuters) - Gensol Engineering Ltd GENO.NS:
INSOLVENCY APPLICATION AGAINST GENSOL ENGINEERING ADMITTED BY NCLT
NCLT ADMIT INSOLVENCY AGAINST GENSOL FOR 5.10 BILLION RUPEES
Source text: ID:nBSE1YKZff
Further company coverage: GENO.NS
(([email protected];))
June 13 (Reuters) - Gensol Engineering Ltd GENO.NS:
INSOLVENCY APPLICATION AGAINST GENSOL ENGINEERING ADMITTED BY NCLT
NCLT ADMIT INSOLVENCY AGAINST GENSOL FOR 5.10 BILLION RUPEES
Source text: ID:nBSE1YKZff
Further company coverage: GENO.NS
(([email protected];))
May 14 (Reuters) - Indian Renewable Energy Development Agency Ltd INAR.NS:
FILES INSOLVENCY APPLICATION AGAINST GENSOL ENGINEERING
DEFAULT AMOUNT 5.10 BILLION RUPEES
Source text: ID:nNSE6kLBp2
Further company coverage: INAR.NS
(([email protected];;))
May 14 (Reuters) - Indian Renewable Energy Development Agency Ltd INAR.NS:
FILES INSOLVENCY APPLICATION AGAINST GENSOL ENGINEERING
DEFAULT AMOUNT 5.10 BILLION RUPEES
Source text: ID:nNSE6kLBp2
Further company coverage: INAR.NS
(([email protected];;))
May 12 (Reuters) - Gensol Engineering GENO.NS said on Monday Managing Director Anmol Singh Jaggi and Whole-time Director Puneet Singh Jaggi have resigned, nearly a month after India's market regulator barred them from holding key positions in the company.
(Reporting by Anuran Sadhu in Bengaluru; Editing by Krishna Chandra Eluri)
(([email protected];))
May 12 (Reuters) - Gensol Engineering GENO.NS said on Monday Managing Director Anmol Singh Jaggi and Whole-time Director Puneet Singh Jaggi have resigned, nearly a month after India's market regulator barred them from holding key positions in the company.
(Reporting by Anuran Sadhu in Bengaluru; Editing by Krishna Chandra Eluri)
(([email protected];))
April 30 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING LTD- RAJESH PARMAR TENDERED HIS RESIGNATION AS COMPANY SECRETARY
GENSOL ENGINEERING- RESIGNATION DUE TO RECENT DEVELOPMENTS INCLUDING INTERIM ORDER ISSUED BY SEBI
Source text: ID:nBSE8q99YK
Further company coverage: GENO.NS
(([email protected];;))
April 30 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING LTD- RAJESH PARMAR TENDERED HIS RESIGNATION AS COMPANY SECRETARY
GENSOL ENGINEERING- RESIGNATION DUE TO RECENT DEVELOPMENTS INCLUDING INTERIM ORDER ISSUED BY SEBI
Source text: ID:nBSE8q99YK
Further company coverage: GENO.NS
(([email protected];;))
April 25 (Reuters) - Gensol Engineering Ltd GENO.NS:
IREDA - FILED COMPLAINT WITH ECONOMIC OFFENCES WING AGAINST GENSOL
Source text: [ID:]
Further company coverage: GENO.NS
(([email protected];))
April 25 (Reuters) - Gensol Engineering Ltd GENO.NS:
IREDA - FILED COMPLAINT WITH ECONOMIC OFFENCES WING AGAINST GENSOL
Source text: [ID:]
Further company coverage: GENO.NS
(([email protected];))
April 24 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING- CO OR ANY OF ITS KMPS OR DIRECTORS HAS NOT RECEIVED ANY COMMUNICATION FROM ED
GENSOL ENGINEERING- HAS NOT RECEIVED ANY ED NOTICE IN CONNECTION WITH THE MAHADEV BOOK APP CASE
GENSOL ENGINEERING - CALLS NEWS ON SUMMON OF PROMOTERS BY ED AS FACTUALLY INCORRECT
GENSOL ENGINEERING - PROMOTERS OF CO HAVE NO ASSOCIATION WITH THE MAHADEV BOOK APP CASE
Source text: ID:nnAZN3QU7LN
Further company coverage: GENO.NS
(([email protected];))
April 24 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING- CO OR ANY OF ITS KMPS OR DIRECTORS HAS NOT RECEIVED ANY COMMUNICATION FROM ED
GENSOL ENGINEERING- HAS NOT RECEIVED ANY ED NOTICE IN CONNECTION WITH THE MAHADEV BOOK APP CASE
GENSOL ENGINEERING - CALLS NEWS ON SUMMON OF PROMOTERS BY ED AS FACTUALLY INCORRECT
GENSOL ENGINEERING - PROMOTERS OF CO HAVE NO ASSOCIATION WITH THE MAHADEV BOOK APP CASE
Source text: ID:nnAZN3QU7LN
Further company coverage: GENO.NS
(([email protected];))
April 23 - ** Shares of state owned Power Finance Corp PWFC.NS down 2.78% to 426 rupees
** The non-banking lender says it loaned 3.52 billion rupees ($41 million) to Gensol Engineering GENO.NS in 2023 and has only received 450 million rupees as of April 18
** PWFC files complaint against Gensol with the economic offenses wing for falsifying documents
** India's markets regulator has taken a slew of actions against Gensol and its founders for allegedly defaulting on debt and diverting funds raised for business towards personal luxury purchases
** With session's decline, PWFC trims 12-month gain to 7%
(Reporting by Ananta Agarwal in Bengaluru)
April 23 - ** Shares of state owned Power Finance Corp PWFC.NS down 2.78% to 426 rupees
** The non-banking lender says it loaned 3.52 billion rupees ($41 million) to Gensol Engineering GENO.NS in 2023 and has only received 450 million rupees as of April 18
** PWFC files complaint against Gensol with the economic offenses wing for falsifying documents
** India's markets regulator has taken a slew of actions against Gensol and its founders for allegedly defaulting on debt and diverting funds raised for business towards personal luxury purchases
** With session's decline, PWFC trims 12-month gain to 7%
(Reporting by Ananta Agarwal in Bengaluru)
April 22 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS filed a complaint with the economic offences wing against Gensol Engineering GENO.NS over the alleged submission of falsified documents, it said on Tuesday.
PFC is also currently internally investigating the issue under its anti-fraud policy, it said.
India's markets regulator has barred Gensol founders Anmol Singh Jaggi and Puneet Singh Jaggi from holding key positions in the company after allegedly defaulting on debt it raised to finance electric vehicle purchases for their ride-hailing startup BluSmart Mobility.
Gensol's stock has cratered as it grapples with a slew of challenges and allegations, including falsifying financial documents, suspension of services by BluSmart and resignations of three independent directors.
PFC said it had lent 3.52 billion rupees ($41 million) to Gensol in 2023 for leasing 3,000 electric vehicles for BluSmart but has so far received only 450 million rupees as of April 18.
Gensol had previously denied defaulting on its debt.
($1 = 85.1630 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Anil D'Silva)
(([email protected]; +918447554364;))
April 22 (Reuters) - India's Power Finance Corp (PFC) PWFC.NS filed a complaint with the economic offences wing against Gensol Engineering GENO.NS over the alleged submission of falsified documents, it said on Tuesday.
PFC is also currently internally investigating the issue under its anti-fraud policy, it said.
India's markets regulator has barred Gensol founders Anmol Singh Jaggi and Puneet Singh Jaggi from holding key positions in the company after allegedly defaulting on debt it raised to finance electric vehicle purchases for their ride-hailing startup BluSmart Mobility.
Gensol's stock has cratered as it grapples with a slew of challenges and allegations, including falsifying financial documents, suspension of services by BluSmart and resignations of three independent directors.
PFC said it had lent 3.52 billion rupees ($41 million) to Gensol in 2023 for leasing 3,000 electric vehicles for BluSmart but has so far received only 450 million rupees as of April 18.
Gensol had previously denied defaulting on its debt.
($1 = 85.1630 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Anil D'Silva)
(([email protected]; +918447554364;))
April 18 (Reuters) - Two independent directors at embattled Gensol Engineering GENO.NS resigned, the company said on Thursday, marking the third exit this week after regulators accused its co-founders of misusing funds, including using money meant for an EV affiliate to buy a luxury apartment.
The Securities and Exchange Board of India (SEBI) this week barred Anmol Jaggi and his brother Puneet from the stock market and ordered a forensic audit of solar firm Gensol, which procured electric vehicles for BluSmart.
The popular ride-hailing service, seen as a rival to Uber UBER.N, was co-founded by Anmol, who also serves as Gensol's managing director.
Gensol on Thursday said in that Harsh Singh and Kuljit Singh Popli have resigned as independent directors with immediate effect.
This follows the resignation of Arun Menon, another independent director at Gensol.
Popli in his resignation letter said, "... the way things have unfolded and come to light, I am not in a position to continue as (an) Independent Director."
"I was hopeful that the company that has grown so fast and had been enjoying good reputation and good will, will continue to grow... and governance issues as brought out will be addressed. However that has not happened," Popli added.
BluSmart also said on Thursday it has suspended its operations with a decision to "temporarily close bookings" on its app.
Gensol, Anmol Singh Jaggi and Puneet Singh Jaggi did not immediately respond to Reuters' requests for comment on SEBI's accusations.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; X: @MukherjeeHritam;))
April 18 (Reuters) - Two independent directors at embattled Gensol Engineering GENO.NS resigned, the company said on Thursday, marking the third exit this week after regulators accused its co-founders of misusing funds, including using money meant for an EV affiliate to buy a luxury apartment.
The Securities and Exchange Board of India (SEBI) this week barred Anmol Jaggi and his brother Puneet from the stock market and ordered a forensic audit of solar firm Gensol, which procured electric vehicles for BluSmart.
The popular ride-hailing service, seen as a rival to Uber UBER.N, was co-founded by Anmol, who also serves as Gensol's managing director.
Gensol on Thursday said in that Harsh Singh and Kuljit Singh Popli have resigned as independent directors with immediate effect.
This follows the resignation of Arun Menon, another independent director at Gensol.
Popli in his resignation letter said, "... the way things have unfolded and come to light, I am not in a position to continue as (an) Independent Director."
"I was hopeful that the company that has grown so fast and had been enjoying good reputation and good will, will continue to grow... and governance issues as brought out will be addressed. However that has not happened," Popli added.
BluSmart also said on Thursday it has suspended its operations with a decision to "temporarily close bookings" on its app.
Gensol, Anmol Singh Jaggi and Puneet Singh Jaggi did not immediately respond to Reuters' requests for comment on SEBI's accusations.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; X: @MukherjeeHritam;))
April 16 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING - ANMOL SINGH JAGGI AND PUNEET SINGH JAGGI HAVE RESTRAINED FROM MANAGEMENT
GENSOL ENGINEERING LTD - TO COOPERATE WITH SEBI FORENSIC AUDIT
Further company coverage: GENO.NS
(([email protected];))
April 16 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING - ANMOL SINGH JAGGI AND PUNEET SINGH JAGGI HAVE RESTRAINED FROM MANAGEMENT
GENSOL ENGINEERING LTD - TO COOPERATE WITH SEBI FORENSIC AUDIT
Further company coverage: GENO.NS
(([email protected];))
April 15 (Reuters) -
INDIA MARKETS REGULATOR: ISSUES INTERIM ORDER IN MATTER OF GENSOL ENGINEERING
INDIA'S SEBI: BARS GENSOL ENGINEERING, ANMOL SINGH JAGGI, PUNEET SINGH JAGGI FROM BUYING, SELLING OR DEALING IN SECURITIES
INDIA'S SEBI: BARS GENSOL ENGINEERING TO PUT ON HOLD THE STOCK SPLIT ANNOUNCED BY IT
INDIA'S SEBI: ANMOL SINGH JAGGI, PUNEET SINGH JAGGI RESTRAINED FROM HOLDING POSITION OF DIRECTOR IN GENSOL
Source text: [ID:]
Further company coverage: GENO.NS
(([email protected];))
April 15 (Reuters) -
INDIA MARKETS REGULATOR: ISSUES INTERIM ORDER IN MATTER OF GENSOL ENGINEERING
INDIA'S SEBI: BARS GENSOL ENGINEERING, ANMOL SINGH JAGGI, PUNEET SINGH JAGGI FROM BUYING, SELLING OR DEALING IN SECURITIES
INDIA'S SEBI: BARS GENSOL ENGINEERING TO PUT ON HOLD THE STOCK SPLIT ANNOUNCED BY IT
INDIA'S SEBI: ANMOL SINGH JAGGI, PUNEET SINGH JAGGI RESTRAINED FROM HOLDING POSITION OF DIRECTOR IN GENSOL
Source text: [ID:]
Further company coverage: GENO.NS
(([email protected];))
March 25 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING LTD - REFEX GREEN MOBILITY AND GENSOL ENGINEERING UPDATE ON ASSET TAKEOVER
GENSOL ENGINEERING LTD - TRANSACTION TERMS MUTUALLY AGREED, EVALUATION UNDERWAY
GENSOL ENGINEERING LTD - AWAITING FINANCIAL AND REGULATORY APPROVALS TO PROCEED
Source text: ID:nBSE23Nnsk
Further company coverage: GENO.NS
(([email protected];;))
March 25 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING LTD - REFEX GREEN MOBILITY AND GENSOL ENGINEERING UPDATE ON ASSET TAKEOVER
GENSOL ENGINEERING LTD - TRANSACTION TERMS MUTUALLY AGREED, EVALUATION UNDERWAY
GENSOL ENGINEERING LTD - AWAITING FINANCIAL AND REGULATORY APPROVALS TO PROCEED
Source text: ID:nBSE23Nnsk
Further company coverage: GENO.NS
(([email protected];;))
March 13 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING LTD - BOARD APPROVES ISSUANCE OF FCCBS, ADRS, GDRS
GENSOL ENGINEERING LTD - TO ISSUE SECURITIES UP TO USD 50 MILLION
GENSOL ENGINEERING LTD - APPROVES SPLIT OF EQUITY SHARES FROM 10 RUPEES TO 1 RUPEE
GENSOL ENGINEERING LTD - TO ISSUE 35.7 MILLION WARRANTS AT 56 RUPEES EACH
Source text: ID:nBSE1PYsg
Further company coverage: GENO.NS
(([email protected];;))
March 13 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING LTD - BOARD APPROVES ISSUANCE OF FCCBS, ADRS, GDRS
GENSOL ENGINEERING LTD - TO ISSUE SECURITIES UP TO USD 50 MILLION
GENSOL ENGINEERING LTD - APPROVES SPLIT OF EQUITY SHARES FROM 10 RUPEES TO 1 RUPEE
GENSOL ENGINEERING LTD - TO ISSUE 35.7 MILLION WARRANTS AT 56 RUPEES EACH
Source text: ID:nBSE1PYsg
Further company coverage: GENO.NS
(([email protected];;))
** Shares of Gensol Engineering Ltd GENO.NS fall 5%, the exchange-allowed maximum, to a record low of 305.80 rupees
** The engineering co says promoters have undertaken sale of 2.37% stake of co for liquidity that will be reinvested into the business
** Credit rating agencies ICRA and CARE had downgraded co earlier last week, raising concerns over its liquidity position and corporate governance practices
** Co's board will also meet on March 13 to consider raising of funds and share split
** Stock on track to fall for 10th straight day
** More than 1.4 mln shares traded, 3.1x their 30-day moving avg
** GENO stock down 57.6% YTD so far, including session's losses
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected];))
** Shares of Gensol Engineering Ltd GENO.NS fall 5%, the exchange-allowed maximum, to a record low of 305.80 rupees
** The engineering co says promoters have undertaken sale of 2.37% stake of co for liquidity that will be reinvested into the business
** Credit rating agencies ICRA and CARE had downgraded co earlier last week, raising concerns over its liquidity position and corporate governance practices
** Co's board will also meet on March 13 to consider raising of funds and share split
** Stock on track to fall for 10th straight day
** More than 1.4 mln shares traded, 3.1x their 30-day moving avg
** GENO stock down 57.6% YTD so far, including session's losses
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected];))
** Shares of Gensol Engineering GENO.NS fall 6% to 315 rupees, biggest one-day pct fall
** GENO down ~38% so far this week, its biggest weekly fall on record
** Stock eyes ninth straight session of decline
** Credit rating agencies ICRA and CARE had downgraded co earlier this week, raising concerns over its liquidity position and corporate governance practices
** More than 4.6 mln shares change hands, 20.8x its 30-day avg
** Stock down 56% so far this year
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
** Shares of Gensol Engineering GENO.NS fall 6% to 315 rupees, biggest one-day pct fall
** GENO down ~38% so far this week, its biggest weekly fall on record
** Stock eyes ninth straight session of decline
** Credit rating agencies ICRA and CARE had downgraded co earlier this week, raising concerns over its liquidity position and corporate governance practices
** More than 4.6 mln shares change hands, 20.8x its 30-day avg
** Stock down 56% so far this year
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
March 5 (Reuters) - India's Gensol Engineering GENO.NS on Wednesday denied falsifying debt-related data, after credit rating agency ICRA downgraded the company and raised concerns over its liquidity position and corporate governance practices.
WHY IT'S IMPORTANT
Credit rating agencies ICRA and Care Edge Ratings downgraded the construction and engineering firm this week and noted ongoing delays in the company's debt servicing.
ICRA said it has learnt Gensol had shared a falsified debt servicing track record and raised concerns about the company's corporate governance practices, including its liquidity position.
CONTEXT
The company denied any involvement in claims made by the rating agencies and added it would be setting up a committee to review the matter.
"These are challenging times and we are taking decisive steps towards strengthening our financial position and ensuring long-term financial stability," Gensol added.
BY THE NUMBERS
The firm's stock fell 10% on Wednesday after plunging 20% in the previous session.
The company's current debt stands at 11.46 billion rupees ($131.70 million). Its consolidated revenue for the first nine months of the current fiscal year stood at 10.53 billion rupees.
($1 = 87.0150 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Vijay Kishore)
(([email protected]; +918447554364;))
March 5 (Reuters) - India's Gensol Engineering GENO.NS on Wednesday denied falsifying debt-related data, after credit rating agency ICRA downgraded the company and raised concerns over its liquidity position and corporate governance practices.
WHY IT'S IMPORTANT
Credit rating agencies ICRA and Care Edge Ratings downgraded the construction and engineering firm this week and noted ongoing delays in the company's debt servicing.
ICRA said it has learnt Gensol had shared a falsified debt servicing track record and raised concerns about the company's corporate governance practices, including its liquidity position.
CONTEXT
The company denied any involvement in claims made by the rating agencies and added it would be setting up a committee to review the matter.
"These are challenging times and we are taking decisive steps towards strengthening our financial position and ensuring long-term financial stability," Gensol added.
BY THE NUMBERS
The firm's stock fell 10% on Wednesday after plunging 20% in the previous session.
The company's current debt stands at 11.46 billion rupees ($131.70 million). Its consolidated revenue for the first nine months of the current fiscal year stood at 10.53 billion rupees.
($1 = 87.0150 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Vijay Kishore)
(([email protected]; +918447554364;))
Feb 18 (Reuters) - Gensol Engineering Ltd GENO.NS:
ANNOUNCES PROMOTER SHARE SALE TO REDUCE PLEDGED SHARES
Source text: ID:nBSE4R45sb
Further company coverage: GENO.NS
(([email protected];;))
Feb 18 (Reuters) - Gensol Engineering Ltd GENO.NS:
ANNOUNCES PROMOTER SHARE SALE TO REDUCE PLEDGED SHARES
Source text: ID:nBSE4R45sb
Further company coverage: GENO.NS
(([email protected];;))
Feb 11 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING DEC-QUARTER CONSOL NET PROFIT 169.1 MILLION RUPEES
GENSOL ENGINEERING DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 6.45 BILLION RUPEES
Source text: ID:nBSE2RR1hZ
Further company coverage: GENO.NS
(([email protected];))
Feb 11 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING DEC-QUARTER CONSOL NET PROFIT 169.1 MILLION RUPEES
GENSOL ENGINEERING DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 6.45 BILLION RUPEES
Source text: ID:nBSE2RR1hZ
Further company coverage: GENO.NS
(([email protected];))
Feb 7 (Reuters) - Gensol Engineering Ltd GENO.NS:
SECURES 9.68 BILLION RUPEES ORDER
Source text: ID:nBSE4hVX0H
Further company coverage: GENO.NS
(([email protected];;))
Feb 7 (Reuters) - Gensol Engineering Ltd GENO.NS:
SECURES 9.68 BILLION RUPEES ORDER
Source text: ID:nBSE4hVX0H
Further company coverage: GENO.NS
(([email protected];;))
Jan 28 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL EV ANNOUNCES 30,000 PRE-ORDERS FOR EZIO AND EZIBOT
Source text: ID:nBSE35DJgN
Further company coverage: GENO.NS
(([email protected];;))
Jan 28 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL EV ANNOUNCES 30,000 PRE-ORDERS FOR EZIO AND EZIBOT
Source text: ID:nBSE35DJgN
Further company coverage: GENO.NS
(([email protected];;))
Jan 16 (Reuters) - Refex Industries Ltd REFE.NS:
REFEX INDUSTRIES - EVEELZ TO ASSUME GENSOL'S 3.15 BILLION RUPEES LOAN FACILITY
Source text: ID:nNSEmMRB0
Further company coverage: REFE.NS
(([email protected];;))
Jan 16 (Reuters) - Refex Industries Ltd REFE.NS:
REFEX INDUSTRIES - EVEELZ TO ASSUME GENSOL'S 3.15 BILLION RUPEES LOAN FACILITY
Source text: ID:nNSEmMRB0
Further company coverage: REFE.NS
(([email protected];;))
Jan 6 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING - SECURES EPC CONTRACT FOR 275MW SOLAR PV PROJECT
GENSOL ENGINEERING - TOTAL BID VALUE ABOUT 10.62 BILLION RUPEES
Source text: ID:nBSE6M7Cqq
Further company coverage: GENO.NS
(([email protected];))
Jan 6 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING - SECURES EPC CONTRACT FOR 275MW SOLAR PV PROJECT
GENSOL ENGINEERING - TOTAL BID VALUE ABOUT 10.62 BILLION RUPEES
Source text: ID:nBSE6M7Cqq
Further company coverage: GENO.NS
(([email protected];))
** Shares of Gensol Engineering GENO.NS rise as much as 9.3% to 779.95 rupees
** GENO on Thursday said it has won an order worth about 8.97 bln rupees ($105 mln) from NTPC Renewable Energy
** Stock on track to snap five-session losing streak, if trend holds
** Stock is witnessing its most active trading session since July 29, with more than 797,000 shares changing hands, 7.4x of its 30-day avg
** Stock last up 6.2%, cutting YTD loss to 10.4%
($1 = 85.4300 Indian rupees)
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
** Shares of Gensol Engineering GENO.NS rise as much as 9.3% to 779.95 rupees
** GENO on Thursday said it has won an order worth about 8.97 bln rupees ($105 mln) from NTPC Renewable Energy
** Stock on track to snap five-session losing streak, if trend holds
** Stock is witnessing its most active trading session since July 29, with more than 797,000 shares changing hands, 7.4x of its 30-day avg
** Stock last up 6.2%, cutting YTD loss to 10.4%
($1 = 85.4300 Indian rupees)
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
Dec 26 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING LTD - SECURES EPC CONTRACT FROM NTPC RENEWABLE ENERGY
GENSOL ENGINEERING LTD - TOTAL BID VALUE APPROXIMATELY 8.97 BILLION RUPEES
Source text: ID:nBSE8fmH98
Further company coverage: GENO.NS
(([email protected];))
Dec 26 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING LTD - SECURES EPC CONTRACT FROM NTPC RENEWABLE ENERGY
GENSOL ENGINEERING LTD - TOTAL BID VALUE APPROXIMATELY 8.97 BILLION RUPEES
Source text: ID:nBSE8fmH98
Further company coverage: GENO.NS
(([email protected];))
Dec 18 (Reuters) - Gensol Engineering Ltd GENO.NS:
SECURES 22 MW SOLAR PV PROJECT WORTH 880 MILLION RUPEES
Source text: ID:nBSE6Nhgz
Further company coverage: GENO.NS
(([email protected];))
Dec 18 (Reuters) - Gensol Engineering Ltd GENO.NS:
SECURES 22 MW SOLAR PV PROJECT WORTH 880 MILLION RUPEES
Source text: ID:nBSE6Nhgz
Further company coverage: GENO.NS
(([email protected];))
Nov 5 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING - SOLAR EPC ORDER BOOK CROSSES 54 BILLION RUPEES AS ON OCT 31
Source text: ID:nBSE6f5csk
Further company coverage: GENO.NS
(([email protected];))
Nov 5 (Reuters) - Gensol Engineering Ltd GENO.NS:
GENSOL ENGINEERING - SOLAR EPC ORDER BOOK CROSSES 54 BILLION RUPEES AS ON OCT 31
Source text: ID:nBSE6f5csk
Further company coverage: GENO.NS
(([email protected];))
** Shares of solar energy solutions company Gensol Engineering GENO.NS rise 3.4% to 842.50 rupees in early trade
** Co gets solar PV project worth 7.80 billion rupees ($92.8 million) from a public sector utility in Maharashtra
** GENO on track for fifth straight session of gains
** With session's gains so far, stock trims YTD loss to 0.4%
($1 = 84.0650 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
** Shares of solar energy solutions company Gensol Engineering GENO.NS rise 3.4% to 842.50 rupees in early trade
** Co gets solar PV project worth 7.80 billion rupees ($92.8 million) from a public sector utility in Maharashtra
** GENO on track for fifth straight session of gains
** With session's gains so far, stock trims YTD loss to 0.4%
($1 = 84.0650 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
Oct 25 (Reuters) - Gensol Engineering Ltd GENO.NS:
SEPT-QUARTER CONSOL NET PROFIT 293.8 MILLION RUPEES
SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 3.46 BILLION RUPEES
Further company coverage: GENO.NS
(([email protected];))
Oct 25 (Reuters) - Gensol Engineering Ltd GENO.NS:
SEPT-QUARTER CONSOL NET PROFIT 293.8 MILLION RUPEES
SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 3.46 BILLION RUPEES
Further company coverage: GENO.NS
(([email protected];))
More Nano Cap Ideas
See similar 'Nano' cap companies with recent activity
Promoter Buying
Companies where the promoters are bullish
Capex
Companies investing on expansion
Superstar Investor
Companies where well known investors have invested
Popular questions
- Business
- Financials
- Share Price
- Shareholdings
What does Gensol Engineering do?
Gensol Engineering Limited offers a wide range of services for solar projects worldwide, specializing in technical due diligence, engineering, quality control, and consulting. It serves as a key advisor to industry leaders, EPC companies, and policymakers.
Who are the competitors of Gensol Engineering?
Gensol Engineering major competitors are Agni Green Power, Refex Renewbl&Infra, Urja Global, Viviana Power Tech, Ujaas Energy, BGR Energy Systems, KP Energy. Market Cap of Gensol Engineering is ₹74 Crs. While the median market cap of its peers are ₹779 Crs.
Is Gensol Engineering financially stable compared to its competitors?
Gensol Engineering seems to be less financially stable compared to its competitors. Altman Z score of Gensol Engineering is 1.26 and is ranked 6 out of its 8 competitors.
Does Gensol Engineering pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Gensol Engineering latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has Gensol Engineering allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Short Term Loans & Advances
How strong is Gensol Engineering balance sheet?
Gensol Engineering balance sheet is weak and might have solvency issues
Is the profitablity of Gensol Engineering improving?
Yes, profit is increasing. The profit of Gensol Engineering is ₹75.72 Crs for TTM, ₹59.55 Crs for Mar 2024 and ₹23.36 Crs for Mar 2023.
Is the debt of Gensol Engineering increasing or decreasing?
Yes, The net debt of Gensol Engineering is increasing. Latest net debt of Gensol Engineering is ₹955 Crs as of Sep-24. This is greater than Mar-24 when it was ₹640 Crs.
Is Gensol Engineering stock expensive?
Gensol Engineering is not expensive. Latest PE of Gensol Engineering is 0.82, while 3 year average PE is 58.39. Also latest EV/EBITDA of Gensol Engineering is 3.07 while 3yr average is 13.92.
Has the share price of Gensol Engineering grown faster than its competition?
Gensol Engineering has given lower returns compared to its competitors. Gensol Engineering has grown at ~-60.03% over the last 3yrs while peers have grown at a median rate of 37.73%
Is the promoter bullish about Gensol Engineering?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in Gensol Engineering is 35.87% and last quarter promoter holding is 62.65%
Are mutual funds buying/selling Gensol Engineering?
There is Insufficient data to gauge this.