Gensol Engineering -Why Investor Cry-SEBI Investigation-Fund Diverted -falling from Rs.1376 & dropped 90 percent
Gensol Engineering’s stock has been experiencing a sharp decline over the past 10 weeks, continuing a downtrend that began in February 2024. Despite the company gradually reporting good financials, the stock performance has worsened significantly, with prices taking a steep nosedive.
Stock Trades both on NSE, BSE
- Stock Lifetime High ₹ 1376, Feb ‘2024
- Stock 52 Week Low ₹ 122, Apr’2025
- One Year Performance -86.67 %
- Net Profit 53 Cr.
- Net Sales 963 Cr.
- Debt to Equity 4.29 Huge debt on company
- Mkt Cap 466.21 Cr
Natco Pharma Falling from ₹ 1639 Rs to 55 % Low
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PEER Group Debt to Equity Ratio and Mkt Cap
- BHEL 0.36 Mkt Cap : 78,694 Cr
- Thermax 0.28 Mkt Cap : 40,112 Cr
- AIA Engineering 0.07 Mkt Cap : 29,728
- Triveni Turbine 0.00 Mkt Cap :16,305
Gensol Engineering Financial
Gensol Engineering has delivered strong results in recent quarters, showing consistent sales growth and steadily improving profitability.
Share Holding Pattern of Dec’2024
- Promoter Holding in Dec ‘2024 , 62.65 % , Same in Previous Q of 62.58 %
- Promoter Share Pledged Dec’2024 81.7 % Increased from previous Q of 79.81 %
- FII Holding in Dec’2024 .63 %, Decreased from previous Q of 2.3 %
- DII Holding in Dec’2024 , 1.37 %, In previous Q was 0.0%
- Public Holding in Dec’2024 , 30.55 %, In previous from Q of 29.82 %
- Others Holding in Dec’2024 , 4.8 %, Decreased from previous Q of 5.29 %
What Led Stock Crash ?
SEBI Action Against Gensol Engineering Promoters
SEBI has taken strict action against Gensol Engineering’s promoters, Anmol Singh Jaggi and Puneet Singh Jaggi. Both have been removed from any director roles in the company and are banned from accessing the stock market. SEBI also told the company to pause its recently announced stock split.
From 2021 to 2024, Gensol took loans worth ₹978 crore from IREDA and PFC. Out of this, ₹664 crore was meant to buy 6,400 electric vehicles (EVs) for leasing to BluSmart. Gensol was also supposed to add 20% of its own money, making the total spend around ₹830 crore.
But in a February 2025 update, Gensol said it had only bought 4,704 EVs so far. Their supplier, Go-Auto, confirmed the total cost of those EVs was ₹568 crore. SEBI pointed out that there’s a missing amount of ₹262 crore that hasn’t been explained, even after more than a year since the last loan was received.
Bank records also show possible fund diversion linked to Puneet Singh Jaggi.
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