On a consolidated basis, Gensol Engineering's net profit declined 22.11% to Rs 17.86 crore in Q3 FY25 as against Rs 22.93 crore in Q2 FY25. Revenue from operations shed 0.42% to Rs 345.34 crore in Q3 FY25 over Q2 FY25. PBT tumbled 35.70% to Rs 15.97 crore in Q3 FY25 over Q2 FY25.
On a year-on-year basis, the company's consolidated net profit rose 6% to Rs 18 crore while total income advanced 30% to Rs 345 crore in Q3 FY25.
EBITDA stood at Rs 63 crore in Q3 FY25, registering a growth of 19% compared with Rs 53 crore posted in Q3 FY24. EBITDA margin reduced to 18.3% in Q3 FY25 as against 20.1% in Q3 FY24.
On an operational highlights, the company’s solar segment has secured a significant EPC contract from a renowned public sector undertaking for the development of a 275 MW solar PV project at the RE Solar Park, Khavda Rann, in Kutch, Gujarat. The total bid value for the project is approximately Rs 1,061.97 crore, which also includes a 3-year operation and maintenance (O&M) commitment.
The segment also secured a major contract with NTPC Renewable Energy (NTPC REL) to develop a 225 MW-AC (276 MWDC) solar PV system at the GSECL Solar Park in Gujarat, valued at Rs 897.47 crore. The deal also includes a 3-year operations and maintenance (O&M) commitment.
Additionally, it has secured an order worth approximately Rs 967.98 crore for a 245 MW solar PV project at the Khavda RE Power Park, Rann of Kutch in Gujarat. This project also includes three years of O&M.
Meanwhile, the company has partnered with Refex Green Mobility (Refex eVeelz) to transfer 2,997 electric four-wheelers (e4Ws), promoting sustainable mobility in India. As part of the collaboration, Refex eVeelz will assume Gensol's INR 315 crore loan, streamline operations, and drive the expansion of e4W usage in key cities such as Chennai, Bengaluru, Hyderabad, Mumbai, and Pune.
Anmol Singh Jaggi, chairman and MD, Gensol Engineering, said, “India’s renewable energy story is unfolding at a remarkable pace. With the country touching 100 GW of solar installed capacity, we have witnessed a watershed moment. This milestone underscores the effectiveness of government policies and increasing investments. Gensol's strong performance reflects this positive momentum.
In Q3, we've secured major solar EPC contracts totaling to Rs 2,928 crore, bolstering our order book. Our EV business is also gaining traction, with 30,000 pre-orders for our 'EZIO' microurban vehicle and 'EZIBOT' cargo EV unveiled at Bharat Mobility Global Expo 2025. The transfer of 2,997 e4Ws through our partnership with Refex Green Mobility not only demonstrated our commitment to electric mobility but substantially deleveraged our balance sheet.
Looking ahead, we'll continue to drive clean energy solutions across solar EPC, EVs, battery storage, and green hydrogen, strengthening our market position and creating long-term value for our stakeholders.
Gensol Engineering offers end-to-end EPC and solar advisory services. The company is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.