Gensol Engineering Ltd is an Indian solar power and clean energy infrastructure player in the fast-growing Indian renewable energy industry with a small-cap company. The company mostly offers solar consulting and EPC (Engineering, Procurement, and Construction) services and assists customers in designing, implementing, and commissioning solar energy projects. Gensol Engineering Share Price currently are in Strong bearish. Gensol has had the advantage of the strong Indian push to the adoption of renewable energy based on the commitments of the climate, the increasing power demand, and the favorable government policies.
In this article will provide complete information about Gensol Engineering Share Price.
Gensol Engineering Ltd Company Overview
Gensol Engineering Ltd is a solar consulting and EPC solutions company that provides lifecycle end-to-end services to the solar projects. Its area of operation is project feasibility studies, system design, engineering, the purchase of solar modules, and equipment, construction, commissioning, and operational support. In comparison to manufacturing-oriented firms, the ability of Gensol to execute and manage projects is its strength. The company serves commercial and industrial, and utility-scale solar customers, such as corporates, renewable developers, and institutional customers. Gensol also over time ceased to be a consulting-based model and switched to an all-out EPC implementation model which greatly expanded its revenue base. This competitive move assisted the company in expanding at a very fast rate but left the company with high capital needs and exposure to risks in execution.
| Particular | Details |
| Company Name | Gensol Engineering Ltd |
| Sector | Renewable Energy |
| Industry | Solar EPC & Consulting |
| Core Services | Engineering, Procurement & Construction |
| Listings | BSE & NSE (BZ Segment) |
| Market Capitalisation | ~₹98 crore |
| Face Value | ₹10 |
| Promoter Holding | ~35.9% |
| Promoter Pledge | ~95.1% |
Fraud Case Over Gensol Engineering Ltd
The recent performance of Gensol Engineering is a case of contrasting the short run price momentum with the reality of underlying serious fundamental risks. In 27-28 January, 2026, the stock reached repeated higher circuits due to the high buying interest and increasing volumes of delivery, which showed speculative accumulation. This rally is accompanied by serious regulatory problems. SEBI has verified fraud based on diversion of funds and fraudulent records by the promoters. The Enforcement Directorate is also examining the claims of allegedly siphoning approximately ₹300 crore, has issued lookout circulars against Anmol and Punit Jaggi and has searched the premises. Also, the EV division of Gensol has seen insolvency proceedings in the past, which is an issue of governance. Altogether, under the current conditions of investigations and poor fundamentals, the stock is very risky and unstable even in the short-term, with emerging price surges.
Gensol Engineering Ltd Share Price Historical Performance
The history of share prices of Gensol Engineering Ltd shows wide swings of high and lows. Its stock had been trading at about ₹776 on the hope of the growth of renewable energy and good financial results. The price however went down to the 20-26 range later destroying much of market value.
By 28 January, the stock was trading at approximately 25.5, a slight recovery albeit in the short term against its historical high. The fall was occasioned by the combination of several factors, and high leverage, the reduction in promoter stake, excessive promoter pledging, poor sentiment in small caps and liquidity and cash flow issues.
| Metric | Value |
| Current Price | ₹25.5 |
| Market Capitalisation | ₹98 crore |
| 52-Week High | ₹776 |
| 52-Week Low | ₹20.5 |
| P/E Ratio | 0.96 |
| Book Value | ₹155 |
| Price-to-Book | ~0.17 |
| Dividend Yield | 0.00% |
| ROCE | 14.3% |
| ROE | 22.4% |
Gensol Engineering Share Current Price
The share price of Gensol Engineering on the BSE was trading at about 25.49 as at January 28, 2026, indicating that there is thin trading and low liquidity. The market depth information showed lower buy orders with minimal active sellers with the indication that there was a limited participation and not a high demand. In NSE, the share was listed within a comparable range, which was around ₹23 to 31 over the past few sessions.
The drastic fall has taken the stock near its lower circuit zones and the volatility is very high. The present price is now lower than 95 percent of its maximum level, reflecting the extent of re-rating of the market based on the financial and credit issues.
| Particular | Details |
| BSE Price (Jan 28, 2026) | ~₹25.49 |
| NSE Price Range | ₹23 – ₹31 |
| 52-Week High | ₹868.80 |
| 52-Week Low | ₹26.84 |
| Trend | Strong bearish |
| Liquidity | Low / Thin trading |
Gensol Engineering Share NSE and BSE Listing Details
Gensol Engineering trades in both Indian major exchanges. It trades on the NSE where it trades under the GENSOL symbol and on the BSE under the code 542851 with an ISIN of INE06H201014. Liquidity has been limited despite the dual listing as there has been persistent selling pressure, circuit limits and investor caution.
By January 2026, the market capitalisation of the company is estimated at around ₹889 million, and the enterprise value is estimated at 11.23 billion, which indicates a high leverage in comparison to equity value. P/E of about 1.02 and price-to-book of about 0.14x valuation ratios indicate deep undervaluation though it may be that the market is factoring in high financial risk.
| Metric | Value |
| NSE Symbol | GENSOL |
| BSE Code | 542851 |
| ISIN | INE06H201014 |
| Market Capitalisation | ~₹889 million |
| Enterprise Value | ~₹11.23 billion |
| P/E Ratio | ~1.02 |
| Price to Book | ~0.14x |
| Trading Status | Active (low liquidity) |
Revenue Growth and Business Performance
The highest rate of revenue increase of Gensol Engineering is one of the most noticeable features of its story. The sales CAGR has grown over the past five years to above 60 percent; boosted by higher EPC projects implementation and growth of services portfolio. The growth of the profit has also been strong on a cumulative basis with a five year profit CAGR of over 50%. This shows the scalability of the operations and earnings by the management. The rapid growth has however been accompanied by increased debt and increased interest payments and long working capital cycles which are currently taking a toll on financial stability. Gensol expansion policy depended on implementation of bigger projects, which raised the receivables, as well as funding needs. Such a aggressive strategy exaggerated both the upside and downside risk.
Gensol Engineering Share Price Target 2026–2030 Long-Term Outlook
Between 2026 and 2030, there are high expected divergences in long-term projections of Gensol Engineering. According to the conservative models, the recovery will be slow with a target close to ₹1,930 by the beginning of 2030, possibly hitting 2,100 by the end of the year, with the help of moderate improvement in operations. These calculations are based on the assumption that the level of debt would be constant and there would be a consistent implementation of solar EPC projects.
Bullish projections of exponential upside, including values above ₹20,000 in 2030, are made by more aggressive models, making predictions based on the growth of renewable energy infrastructure in India and the potential of green hydrogen. Such projections however are very risky ones because they do not take into account the existing leverage, liquidity stress and governance issues. The only more important variable is debt management which has a long-term impact.
| Period | Conservative View | Optimistic View | Key Dependency |
| 2026 | Range-bound | Volatile recovery | Debt control |
| 2028 | Gradual improvement | Strong rerating | Cash flows |
| 2030 | ₹1,930–2,100 | ₹20,000+ | Balance sheet repair |
Gensol Engineering Share Price: Reasons for the Sharp Price Fall
Gensol Engineering has experienced a drop in share price of over 96 per cent each year, thus it is amongst the sharpest drops in the renewable energy industry. The most common cause of this collapse is the increasing debt pressure which is reported to have reached over 11,000 crores. An investor rating was downgraded making investors highly fearful and selling intensively and circuit filter.
Although the company reported good operational figures, including Q3 FY25 revenue increase of 91% YoY and a growth in profits of 146% YoY, the market was not convinced given that they are facing a problem on debt servicing, refinancing risk, and sustainability of its cash flows. Simply put, financial leverage pre-eminently dominated the operational performance.
| Factor | Impact |
| High debt burden | Severe |
| Credit rating downgrade | Negative sentiment |
| Liquidity stress | Selling pressure |
| Promoter actions | Confidence erosion |
| Market-wide risk-off | Amplified fall |
Gensol Engineering Share Quarterly Performance Analysis
Quarterly performance indicates that Gensol Engineering is still registering profits but margins vary with mix of projects, cost of financing and timing of executing the projects. Operating margins have been relatively healthy which means that project implementation of the operations level is efficient. This increased interest costs have decreased the growth of net profits in certain quarters. The inefficiency of the company to generate free cash flows on a consistent basis has been of concern to the investors especially at times of project delays or reduced progress.
| Quarter | Sales (₹ Cr) | Operating Profit (₹ Cr) | Net Profit (₹ Cr) | EPS (₹) |
| Mar 2024 | 399 | 79 | 20 | 6.41 |
| Jun 2024 | 362 | 75 | 27 | 8.45 |
| Sep 2024 | 346 | 107 | 23 | 7.73 |
| Dec 2024 | 345 | 69 | 18 | 4.45 |
Gensol Engineering Ltd Annual Profit & Loss Overview
Gensol engineering has been recording a stable increase in annual operating profitability. The operating margin showed improvement with the increase in the scale that was attributed to the increased cost absorption and the project execution efficiencies of the company.
In spite of these gains, net profitability is restrained by excessive interest and depreciation costs. The last twelve months figures attest to the continuity of earnings but also indicate the financial strain of the leverage.
| Year | Revenue (₹ Cr) | Operating Profit (₹ Cr) | Net Profit (₹ Cr) |
| FY21 | 64 | 6 | 3 |
| FY22 | 160 | 19 | 11 |
| FY23 | 398 | 78 | 23 |
| FY24 | 963 | 230 | 53 |
| TTM | 1,452 | 330 | 87 |
Gensol Engineering Ltd Balance Sheet Analysis
The nature of the investment thesis is a major risk as noted in the balance sheet of Gensol Engineering. The total assets grew at a very fast rate due to project execution, fixed assets and working capital needs. This growth was financed majorly by borrowing and this saw a drastic increase in debt. Although reserves have been growing, borrowings are very high as compared to market capitalisation of the company. The leverage also increases the risk greatly particularly in time of cash flow discontinuity.
| Item (₹ Cr) | Mar 2023 | Mar 2024 | Sep 2024 |
| Total Assets | 1,066 | 2,324 | 2,552 |
| Borrowings | 598 | 1,510 | 1,372 |
| Reserves | 195 | 288 | 551 |
| Fixed Assets | 293 | 723 | 257 |
| CWIP | 41 | 88 | 171 |
Gensol Engineering Ltd Cash Flow Analysis
The performance of the cash flow is the lowest aspect of the financial profile of Gensol Engineering. The operating cash flows have been uneven, where there are years that it has gone negative as a result of working capital growth. Massive investing cash outflows indicate expenditure on investments and running projects.
Positive financing cash flows imply the reliance on the borrowed funds instead of the internally-generated funds. Such a structure predisposes it to interest rate risks, as well as liquidity stress.
| Year | Operating CF | Investing CF | Financing CF |
| FY22 | -50 | -60 | 109 |
| FY23 | 115 | -706 | 709 |
| FY24 | -98 | -668 | 859 |
Gensol Engineering Ltd Key Financial Ratios
The leverage issues notwithstanding, Gensol Engineering has reported high ratios on returns and this can be attributed to the high turnover of assets and the operating margins. Interest cover is however low, and this restricts the sustainability of such returns.
| Ratio | Value |
| ROCE | 14.3% |
| ROE | 22.4% |
| Interest Coverage | Low |
| Debtor Days | 86 |
| Working Capital Days | -32 |
| Dividend Payout | 0% |
Gensol Engineering Ltd Shareholding Pattern and Governance
There are great changes in the shareholding pattern. Promoter holding has dropped drastically and the public shareholding has risen. There is a low institutional ownership that is based on leverage and governance concerns.
The highest promoter share pledging (approximately 95 per cent) is the worst alert as it will increase the chances of being forced into selling in case lenders enforce their pledges.
| Category | Holding (%) |
| Promoters | 35.88% |
| FIIs | 4.88% |
| DIIs | 0.14% |
| Government | 1.35% |
| Public | 57.75% |
| Shareholders | 1,07,447 |
Gensol Engineering Share Peer Comparison
Gensol Engineering has a deep valuation discount compared to other solar EPCs of comparable size. Although the growth of revenues is similar, the position of the balance sheets, the quality of governance, and access to capital is much lower.
| Company | Market Cap (₹ Cr) | P/E | ROCE |
| Waaree Energies | 79,116 | 22.7 | 34.9 |
| Premier Energies | 32,387 | 24.3 | 41.1 |
| Vikram Solar | 7,339 | 16.1 | 26.5 |
| Gensol Engineering | 98 | 0.96 | 14.3 |
Conclusion
Gensol Engineering Ltd has been turned by a high growth stock in renewable energy to a high-risk turnaround candidate. Although the company has been recording high operational growth in terms of solar EPC and clean energy projects, the heavy debt ratio, credit ratings, downgrades, and high levels of promoter pledging coupled with low liquidity has largely destroyed investor confidence. This is due to the fact that the drastic drop in share price is more of a concern of market over financial stability and not the renewable energy industry itself. Successful debt reduction, better cash flows and mending of trust will be required in the stock to recover it in any meaningful way. So far, Gensol is only appropriate to investors having a very high risk level.
Disclaimer:
The information presented is educational and informational, it must not be regarded as financial, investment, or trading advice. There are market risks in stock market investments and performance in the past does not reflect what is going to happen in the future.
FAQs
Gensol Engineering distributes its business in solar EPC services and also in EV charging infrastructure and green hydrogen projects in India.
Debt level, credit ratings downgrade, liquidity and excessive pledging of stock by its promoters were the main cause of the drop in the stock even after high revenue growth.
Yes, Gensol Engineering is traded in NSE with the symbol of GENSOL and also in BSE with the code of 542851.
The company is operationally well with high growth in revenues and profits, but in financial terms it is highly risky in terms of leverage and cash flow pressure.
Gensol has a greater speculative or high risk investment. Long-term investors who are conservative would want to wait when the level of debt decreases and the financial stability increases.
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