Sovrenn Daily News - 16th Jan 2025

Gensol Engineering

Recent filing: (PARTNERSHIP) Refex Green Mobility (Refex eVeelz) is set to acquire 2,997 electric four-wheelers from Gensol Engineering in a strategic tie-up, assuming a loan facility of INR 315 Cr. The vehicles will be leased to Blu-Smart Mobility, supporting electric mobility growth in key markets like Delhi NCR and Bengaluru.

SUMMARY: 5y Operating Profit uptrend | 7q Operating Profit uptrend | PE 35.4x (Sector PE range 50-90) | Fund raise | Institutional entry | Geographical Expansion | Large Orders | Orderbook of INR 10,382 Cr (Sep-24) (7.8x of TTM revenue) | Acquisitions | Promoter Buying | Solar + EV

FUTURE OUTLOOK: As per Q1FY25 Concall, Company had projected revenue guidance of INR 2,000 crore for FY25, a 2.1x increase from the FY24 revenue of INR 963 Cr | Consolidated EBITDA guidance for FY25 set at worth of INR 400 Cr.

• MCap of INR 2,888 Crore (share price = INR 760 / share) (as on 16th Jan ‘25)
• TTM PE of 35.4x (as on 16th Jan ‘25) Retail float = 22.3% (Sep-24)

FOOD FOR THOUGHT: Leveraged capital structure attributed to debt funded acquisition of EVs for leasing to Blu-Smart

Company Description: Gensol is involved in the business of solar consulting & EPC. It provides concept to commissioning solar advisory, execution and operation services for solar projects in India and abroad. Expanding its operations, Gensol has also established an EV manufacturing facility in Pune, India, for the development and production of electric three wheelers and four wheelers. Alongside, Gensol offers comprehensive EV leasing solutions and is serving leading ride-hailing players with its buy-and-lease package of EV cars.

Discover Stocks for free in Sovrenn Discovery - Large Order Bucket

KPI Green Energy Ltd.

Recent filing: (ORDER) Company has received a new order to develop 62.20 MW of solar power projects under its Captive Power Producer (CPP) segment expected to be completed in FY26, increasing the segment's capacity to 152.34 MW as of recent disclosures. The CPP segment's total cumulative order book now stands at 1.60 GW.

(BUSINESS UPDATE) Company’s largest 200 MW (240 MWp DC) CTU-connected IPP solar project in Khavda, Gujarat, awarded by GUVNL, is nearing early completion ahead of the SCOD (May-Nov 2025). Upon completion, KPI's IPP capacity will grow from 171 MWp to 411 MWp, generating ~47.3 Cr kWh annually and saving ~3.4 lakh metric tonnes of CO2. Key innovations include IoT-powered robotic cleaning, SCADA monitoring, corrosion protection, optimized cable laying, and adaptive designs for Khavda's unique soil. Project construction is 90% complete, with full financial closure, equipment ordering, and operational staff facilities.

SUMMARY: 6y Operating Profit uptrend | 2q Operating Profit uptrend | PE 36.8x (Sector PE range 50-90) | Excellent Sep-24 results | Fund raise | Large Order | Geographical Expansion | Institutional entry | Promoter buying | Solar | Clean Energy

FUTURE OUTLOOK: As per Q2FY25 Concall, Management anticipates a robust revenue growth of 60% to 70% in FY25, driven by a strong order book and the momentum of ongoing projects. Q2FY25 Investor Presentation, Company has 2.41+ GW of Orders in hand as on Sep 30, 2024 and 1.1+ GW of hybrid Orders in hand as on Sep 30, 2024, also a Zero Net-Debt IPP Company | KP Group has an Ambitious target of 10+ GW by 2030.

• MCap of INR 8,512 Crore (share price = INR 432 / share) (as on 16th Jan ‘25)
• TTM PE 36.8x (as on 16th Jan ‘25) Retail float = 22.6% (Sep-24)

FOOF FOR THOUGHT: Negative operating cash flow for FY24.

Company Description: Incorporated in 2002, KPI Green develops, builds, owns, operates, and maintains solar power plants through Independent Power Producer (IPP) and as service provider to Captive Power Producer (CPP) under the brand name of 'Solarism'.

Now get chance to learn investing for free at Sovrenn Education

MRP Agro Ltd

Recent filing: (EXCELLENT RESULTS) For the quarter ending Dec-24, Sales up 2.2x YoY from INR 21.8 Cr in Dec-23 to INR 47.83 Cr in Dec-24. Similarly, Net Profit up 8.1x from INR 0.4 Cr to INR 2.91 Cr. On a QoQ basis, Sales up 3.1x and Net Profit up 4x.

SUMMARY: 2y Operating Profit uptrend | Excellent Sep-24 results | PE 33.9x (Sector PE range 15-30) | Ace Investor | Fund raise | Agri Processing

• MCap of INR 166 Crore (share price = INR 165 / share) (as on 16th Jan ‘25)
• TTM PE 33.9x (as on 16th Jan ‘25) Retail float = 19.5% (Sep-24)

FOOD FOR THOUGHT: PE is above sector range.

Company Description: Company is involved in the trading of food grains and the processing of dal.