Back₹54 to ₹579: Multibagger stock of 2022 surges 958% in a year
The two primary worries that may keep the domestic market volatile are tightening monetary policy and inflation. However, the recent correction of the domestic market over the last five trading sessions has been observed due to some easiness in crude oil prices.
PremiumThe two primary worries that may keep the domestic market volatile are tightening monetary policy and inflation. However, the recent correction of the domestic market over the last five trading sessions has been observed due to some easiness in crude oil prices. However, as global cues were also in line, analysts predict that the domestic stock market will continue to experience volatility in the near to mid-term. Gensol Engineering is the stock that, despite the market's volatility, has been a multibagger in 2022 by providing a return of over 380 per cent.
Gensol Engineering Share Price History
Today's closing price of the BSE-listed stock is ₹579.70, a 10% increase over yesterday's close of ₹527. On the BSE, the stock reached a 52-week-high today, with 35,644 shares being traded at the time. The stock has climbed from ₹54.75 to ₹579.70 in 1 year, generating a multibagger return of 958.81 per cent while the Sensex has only increased by 0.81 per cent. Year-to-date (YTD) performance shows that the stock has climbed from ₹119.15 on January 3, 2022 to the current level, representing a multibagger return of 386.53 per cent so far in 2022 compared to the fall of Sensex by 10.18 per cent in the same period.
The shares of Gensol Engineering have risen from ₹68.45 as of December 28, 2021 to the current level during the past six months, representing a multibagger return of 746.90 per cent, while the Sensex has dropped 8.18 per cent during that time. The stock has risen 63.66 per cent over the past month compared to the Sensex's decline of 4.94 per cent, and it has increased 31.75 per cent over the past five trading sessions compared to the Sensex's increase of 1.80 per cent. Overall, the stock is showing that it has consistently outperformed the Sensex over the past year and has managed to become a multibagger stock of the current year so far.
Key takeaways of Gensol Engineering
Gensol Engineering is a small-cap company having a market cap of ₹634 Cr. The company is one of the solar experts with over 28,000 MW of combined expertise. The company is present in 18 Indian states and has offices in Ahmedabad and Mumbai. It also has ongoing projects in Kenya, Chad, Egypt, Yemen, Oman, Sierra Leone, and the Philippines. The firm provides execution of operation and services for solar projects in India and worldwide thanks to its extensive global reach.
The corporation generated its best-ever EPS of 10.18 for the fiscal year that ended in March 2022, and promoter shareholding is now at 71.17 per cent, the highest level since 2019. The company's net income from operations for the just-completed fiscal year increased by 155% year over year to Rs. 153.51 Cr. from Rs. 60.11 Cr. The firm reported a net profit of ₹11.02 Cr for the fiscal year that ended in March 2022, up from ₹3.12 in March 2021 by a rise of 253% (YoY). Over the past 4 years, the firm has delivered a compound annual growth rate of over 200 per cent in profit. It has also maintained a respectable ROE of over 60% per cent over the previous 4 years.
On the BSE, the stock reached a 52-week high today at ₹579.70 and a 52-week low on August 18, 2021, respectively, meaning that it is now trading 1041 per cent higher than its 52-week low. Gensol Engineer is trading above the moving averages of the five, twenty, fifty, one hundred, and two hundred days. Anmol Singh Jaggi, the company's founder, currently owns 26,52,794 shares, or 24.26 per cent of the company, while Puneet Singh Jaggi, the co-founder and director, owns 23,11,466 shares, or 21.13 per cent stake of the company, according to the company's shareholding pattern for the quarter that ended in March 2022. The company's book value per share is Rs. 31.79, meaning that at the current price, the stock is trading 18.23 times its book value, which might be detrimental to the stock along with no track record of dividends to date.
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