Gensol Engineering Ltd.

•

gensol.inBSE: 542851NSE: GENSOL

Market Cap₹ 65 Cr.

Current Price

High / Low₹ 46 / 16

Stock P/E0.7

Book Value—

Price to Book10.24

Dividend Yield0.00 %

ROCE15.4 %

ROE20.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2024 • EPC: 86.2% • Lease: 13.9% • EV Manufacturing: 0.0%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company has delivered good profit growth of 52.0% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 21.8%
Company has delivered good sales growth of 63.3% CAGR over last 5 years
Latest quarter profit grew 45.1% YoY, showing strong momentum
Operating margins have improved to 23.9% from 10.9%
Company has consistently been profitable over the last 5 years

CONS

Company has a high debt-to-equity of 4.29x
Operating cash flow has been negative in recent years
A large part of profit comes from other income (42.1% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.37x)
Interest coverage is weak at 1.7x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	303.00	120.52	26710.00	692.49	12.88	9.42
12.	GENSOL	17.00	0.72	65.36	0.00	17.86	45.09	344.51	30.48	15.35	18.09

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	102	81	51	164	145	305	264	399	295	346	345
	87	64	35	135	108	258	212	320	207	240	282
Operating Profit	15	17	15	29	37	47	52	79	88	107	62
OPM %	14.78%	21.19%	30.32%	17.82%	25.32%	15.45%	19.58%	19.75%	29.71%	30.77%	18.09%
	1	0	1	3	7	6	7	13	12	13	8
Interest	2	4	6	12	17	21	32	39	46	88	47
Depreciation	4	5	7	10	13	0	3	24	26	6	7
Profit before Tax	10	9	4	11	14	32	23	29	27	25	16
Tax %	0.41%	10.19%	150.80%	30.38%	30.52%	44.29%	26.21%	31.37%	43.74%	7.69%	-11.83%
Net Profit	0	0	0	0	10	11	12	20	15	23	18
	8.92	6.46	-0.53	2.03	2.84	4.88	4.79	6.44	5.41	7.75	4.46

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	12	62	69	83	81	64	160	398	963	1,385
	12	60	62	74	77	58	141	320	733	1,050
Operating Profit	1	2	7	9	4	6	19	78	230	335
OPM %	4.21%	2.70%	10.47%	11.06%	5.04%	9.96%	11.98%	19.56%	23.86%	24.21%
	0	0	1	1	3	1	2	5	33	45
Interest	0	0	0	1	2	2	6	24	110	220
Depreciation	0	0	0	0	1	1	1	25	74	64
Profit before Tax	1	2	7	9	3	4	14	33	78	97
Tax %	29.87%	28.53%	28.41%	28.09%	35.52%	15.04%	22.62%	29.64%	31.37%	21.58%
Net Profit	0	1	5	7	2	3	11	23	53	76
EPS	0.60	1.97	8.83	10.91	3.12	3.89	10.14	6.49	15.72	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 63%
3 Years:: 147%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 55%
3 Years:: 165%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -70%
1 Year:: -59%

RETURN ON EQUITY

10 Years:: —
5 Years:: 17%
3 Years:: 22%
Last Year:: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	0	0	0	6	8	8	11	12	38
Minority Interest	0	0	0	-0	0	0	0	1	-13
	0	1	7	7	25	28	36	195	288
	0	0	1	7	12	10	125	723	1,521
Trade Payables	1	2	10	9	9	7	13	33	87
	4	6	9	13	20	17	24	101	403
Total Liabilities	5	10	26	43	74	70	208	1,066	2,324
	0	0	1	8	8	7	55	293	723
Capital Work in Progress	0	0	0	0	0	0	0	37	88
	0	0	0	0	0	0	0	7	7
	0	0	0	0	7	11	60	10	12
	0	0	0	0	0	0	0	0	228
Cash & Bank	0	1	2	2	7	9	11	286	379
	4	9	23	32	52	43	81	433	888
Total Assets	5	10	26	43	74	70	208	1,066	2,324

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	0	1	3	4	-14	7	-49	118	-98
Cash from Investing	-0	-1	-1	-8	-0	0	-60	-706	-667
Cash from Financing	-0	0	0	6	20	-4	109	709	859
	-0	-0	1	1	5	2	-1	118	94

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024

Shareholding Pattern

Numbers in percentages

Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
64.67	64.67	62.59	62.62	62.77	62.58	62.65	35.87
1.94	2.57	2.94	2.39	1.98	2.30	0.63	4.88
0.66	0.75	0.84	0.09	0.00	0.00	0.00	0.14
0.00	0.00	0.00	0.00	0.00	0.00	1.37	1.35
32.72	32.01	33.62	34.89	35.25	35.12	35.34	57.76

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-20

Monitoring Agency Report

2026-08-20 - Monitoring Agency Report for the quarter ended June 30, 2026

2026-07-14

News Verification

2026-07-14 - The Exchange has sought clarification from Gensol Engineering Limited with respect to recent news item captioned IREDA declares Rs 673 crore Gensol loans as fraud; reports to RBI. The response from the Company is attached.

2026-07-13

News Verification

2026-07-13 - The Exchange has sought clarification from Gensol Engineering Limited with respect to recent news item captioned IREDA declares Rs 673 crore Gensol loans as fraud; reports to RBI. The response from the Company is awaited.

2026-05-15

Monitoring Agency Report

2026-05-15 - Monitoring Agency Report

2026-05-13

Change in Auditors

2026-05-13 - Gensol Engineering Limited has informed the Exchange regarding Change in Auditors of the company.