Gensol Engineering Ltd

The stock is currently locked at its 52-week low, having nosedived an astonishing 85% over the past three months. The meltdown follows a damning interim order issued by SEBI on 15 April 2025, which accused Gensol's promoters ' Anmol Singh Jaggi and Puneet Singh Jaggi ' of diverting massive funds meant for electric vehicle procurement. In response to the findings, the regulator has barred both promoters from taking up any directorial or key managerial positions and restricted their access to the securities market. Subsequently, both Anmol and Puneet stepped down as directors of the company. SEBI's probe, which was initiated after a complaint in June 2024, unearthed significant misuse of Rs 977.75 crore in loans secured from IREDA and PFC. These funds were meant to finance the purchase of 6,400 electric vehicles. However, only 4,704 EVs were actually acquired, leaving over Rs 207 crore unaccounted for. The investigation revealed that funds were routed through entities like Go-Auto and Capbridge Ventures, many of which had links to the promoters. A portion of the money was allegedly used for personal indulgences, including a luxury apartment at Gurgaon's DLF Camellias and a Rs 26 lakh golf set. In addition to fund diversion, SEBI flagged falsified documents submitted to credit rating agencies, further misleading investors and lenders. The regulator is now appointing a forensic auditor to comb through the company's books and transactions, extending the probe to Gensol's related entities as well. In a stock exchange filing, Gensol said it will extend full cooperation during the forensic audit and pledged transparency throughout the process. The company is committed to providing the auditor with complete access to records and information to ensure a transparent and comprehensive audit process, the clarification read. Acknowledging the reputational damage and stock volatility triggered by the SEBI proceedings and media coverage, Gensol said it remains focused on stabilizing its operations. The company also clarified that it is not currently engaged in any undisclosed mergers, acquisitions, or major transactions. In an interim order, SEBI whole time member Ashwani Bhatia also directed Gensol to put its proposed 1:10 stock split on hold. SEBI suspects that it was likely to attract more retail investors to the scrip. Gensol Engineering is a renewable energy company specializing in solar power EPC services and electric mobility solutions. The company's consolidated net profit rose 32.52% to Rs 16.91 crore on a 56.42% increase in revenue to Rs 344.51 crore in Q3 FY25 over Q3 FY24. Powered by Capital Market - Live

This project is developed under a Rs 40 crore EPC contract and underscores Gensol's expertise in executing complex solar installations in challenging terrains. The scope includes comprehensive operations and maintenance (O&M) support for five years. This 40-acre solar power plant will generate over 15 million units of clean energy annually for commercial applications. The site's complex topography, featuring loose soil, hard rock formations, and mining excavations, required innovative engineering solutions. Gensol deployed advanced Mounting Structure Systems (MMS) and high-efficiency PV modules, optimizing performance despite the steep terrain. The project is projected to offset 21,000 metric tons of CO₂ emissions every year, significantly contributing to Jharkhand's renewable energy targets. The plant will bolster Jharkhand's energy security, reducing dependence on fossil fuels while meeting rising electricity demand. Gensol remains committed to supporting India's net-zero ambitions through scalable, efficient, and environmentally responsible solar projects. Gensol Engineering is a leading renewable energy company specializing in solar power EPC services and electric mobility solutions. With a track record of over 770 MW solar projects and an advanced EV manufacturing facility in Pune, Gensol continues to drive innovation and contribute to India's energy transition. The company's consolidated net profit rose 32.52% to Rs 16.91 crore on a 56.42% increase in revenue to Rs 344.51 crore in Q3 FY25 over Q3 FY24. As on 9 April 2025, Gensol Engineering's share price hit a 52-week low at Rs 140.20, down 4.98% from the previous closing. Powered by Capital Market - Live

Gensol Engineering announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 12 April 2025.Powered by Capital Market - Live

Shares of Gensol Engineering lost 54.85% in thirteen consecutive trading sessions from its recent closing high of Rs 579.60 on 21 February 2025. On the BSE, 2.44 lakh shares were traded in the counter so far compared with average daily volumes of 1.32 lakh shares in the past two weeks. The stock hit a 52-week low of Rs 261.70 today. The stock hit a 52-week high of Rs 1,125.75 on 26 June 2024. The stock had underperformed the market over the past month, down 56.54% compared with a 3.06% fall in the Sensex. The scrip had also underperformed the market in the past three months, dropping 66.15% as against the Sensex's 10.14% decline. The counter had underperformed the market in the past year and tumbled 68.49% as against a 1.44% jump in the Sensex. On the technical front, the stock's daily RSI (relative strength index) stood at 12.859. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading below its 50-day and 100-day simple moving average (SMA) placed at 622.65, 705.42, and 823.53, respectively. These levels will act as crucial resistance zones in the near term. A combination of high debt, issues with falsified documentation, and ratings downgrades has contributed to the sharp decline in Gensol Engineering's stock price. Founded in 2012, Gensol Engineering has over a decade of experience in the renewable energy sector. Its diverse business interests include EPC and O&M services for solar power projects, EV leasing through its partnership with Blu-Smart, and the upcoming EV manufacturing division, with a plant currently under construction in Pune. The company's consolidated net profit rose 32.52% to Rs 16.91 crore on a 56.42% increase in revenue to Rs 344.51 crore in Q3 FY25 over Q3 FY24.Powered by Capital Market - Live

The Board of Gensol Engineering at its meeting held on 13 March 2025 has approved the issue of up to 3,57,14,285 convertible warrants to Jasminder Kaur (Promoter) at an issue price of Rs 56 per warrant aggregating to Rs 199.99 crore. Powered by Capital Market - Live

The Board of Gensol Engineering at its meeting held on 13 March 2025 has approved has approved sub division/split of existing equity share of the Company from 1 (One) equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up, into 10 (Ten) equity shares having face value of Rs. 1/- (Rupees One only) each, fully paid-up.Powered by Capital Market - Live

The Board of Gensol Engineering at its meeting held on 13 March 2025 has approved the proposal to seek enabling authorizations from members via general meeting for the issuance of Foreign Currency Convertible Bonds (FCCBs) /American Depository Receipt / Global Depository Receipt and/or other global listed/unlisted securities up to USD 50 million with options of conversion into equity shares of company. Powered by Capital Market - Live

Gensol Engineering announced that promoters of the company are reinforcing long-term confidence in Gensol's vision by infusing Rs. 28.99 crore through the conversion of warrants into equity. In alignment with the promoter group's unwavering support for the company's growth trajectory, warrants will be converted into 4,43,934 equity shares at a price of Rs 871 per share. This step reaffirms the promoters' deep-rooted commitment to Gensol's strategic expansion in renewable energy and electric mobility, ensuring the company is well capitalized.Powered by Capital Market - Live

Gensol Engineering will hold a meeting of the Board of Directors of the Company on 13 March 2025.Powered by Capital Market - Live

Coffee Day Enterprises Ltd, Paisalo Digital Ltd, Mahanagar Gas Ltd and Garware Hi Tech Films Ltd are among the other losers in the BSE's 'A' group today, 07 March 2025.Gensol Engineering Ltd lost 4.91% to Rs 318.9 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 7.66 lakh shares were traded on the counter so far as against the average daily volumes of 36403 shares in the past one month.Coffee Day Enterprises Ltd crashed 4.85% to Rs 30. The stock was the second biggest loser in 'A' group.On the BSE, 2.48 lakh shares were traded on the counter so far as against the average daily volumes of 7.37 lakh shares in the past one month.Paisalo Digital Ltd tumbled 4.11% to Rs 38. The stock was the third biggest loser in 'A' group.On the BSE, 1.72 lakh shares were traded on the counter so far as against the average daily volumes of 1.51 lakh shares in the past one month.Mahanagar Gas Ltd pared 3.28% to Rs 1291.45. The stock was the fourth biggest loser in 'A' group.On the BSE, 21046 shares were traded on the counter so far as against the average daily volumes of 12258 shares in the past one month.Garware Hi Tech Films Ltd fell 3.21% to Rs 4348.8. The stock was the fifth biggest loser in 'A' group.On the BSE, 9879 shares were traded on the counter so far as against the average daily volumes of 8308 shares in the past one month.Powered by Capital Market - Live