Gensol Engineering announced that the 12th Annual General Meeting (AGM) of the company will be held on 30 September 2024.Powered by Capital Market - Live News

Gensol Engineering announced that Gensol and Matrix Gas & Renewables (Matrix) have won the project to setup India`s first Green Hydrogen Valley project in Pune. Gensol - Matrix will set up Green Hydrogen production plant on Build Own and Operate (BOO) basis to supply Green Hydrogen to Specialty Chemical sector with the firm offtake for 20 years. Commenting on this achievement, Anmol Jaggi, Managing Director, Gensol Engineering, said, �We feel immense pride to develop India`s first Green Hydrogen Valley project. Government of India has taken a great step in promoting these Hydrogen Valleys through Department of Science & Technology (DST). We are going to supply Green Hydrogen to the specialty chemical Sector in Pune, Maharashtra on round the clock (RTC) basis to develop the Green Hydrogen economy in India�. Powered by Capital Market - Live News

Gensol Engineering will hold a meeting of the Board of Directors of the Company on 6 September 2024.Powered by Capital Market - Live News

Gensol Engineering in collaboration with Matrix Gas & Renewables, a fastest growing green hydrogen infrastructure developer and natural gas aggregator, announced that it has emerged as a winning bidder for 237 MW annual capacity under Production Linked Incentive (PLI) scheme for setting up electrolyser manufacturing plant. This bid was secured through a competitive tender by Solar Energy Corporation of India (SECI).The Gensol-Matrix consortium has secured a cumulative 300 MW capacity, including a prior 63 MW awarded in the first tranche of the SECI tender that equates to Rs. 450 Crore cumulatively incentive under the PLI scheme. This Production Linked Incentive (PLI), issued by the Ministry of New and Renewable Energy (MNRE) under the National Green Hydrogen Mission, marks a significant milestone in India`s renewable energy landscape. Electrolyser is the key component for production of Green Hydrogen and its derivatives. This project will play a pivotal role in achieving India`s goal of producing 5 million metric tons of green hydrogen annually by 2030.Powered by Capital Market - Live News

Net profit of Gensol Engineering rose 100.00% to Rs 20.48 crore in the quarter ended June 2024 as against Rs 10.24 crore during the previous quarter ended June 2023. Sales rose 104.11% to Rs 295.15 crore in the quarter ended June 2024 as against Rs 144.60 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales295.15144.60 104 OPM %29.7125.32 - PBDT53.2627.14 96 PBT26.9314.45 86 NP20.4810.24 100 Powered by Capital Market - Live News