Established in December 2015, Winsol Engineers Limited specialises in offering comprehensive engineering, procurement, construction, and commissioning services tailored to Balance of Plant (BoP) Solutions for solar and wind power generation companies.
Their core BoP Solutions encompass foundation work, substation civil and electrical work, and right-of-way services, demonstrating a commitment to comprehensive project support.
The company prides itself on its ISO-9001-2015, ISO-14001-2015, and ISO-45001-2018 certifications, underscoring its dedication to quality execution.
With a robust team comprising over 200 engineers and technicians, Winsol Engineers Limited ensures efficient project delivery.
As of April 2024, the company is actively engaged in over 41 major projects valued at approximately ₹11,953.31 lakhs. By March 31, 2024, they have invoiced more than ₹2,115.54 lakhs, leaving an unbilled order book of ₹9,837.75 lakhs.
By December 31, 2023, the workforce comprises over 270 employees, including a skilled team of more than 200 engineers and technicians, highlighting their commitment to project excellence and growth.
Industry Outlook:
- India's infrastructure investments, including the US$ 1.3 trillion Gati Shakti plan, aim to enhance efficiency and reduce costs, crucial for achieving a US$26 trillion economy.
- With a 15.4% CAGR in renewable energy capacity from FY16 to FY23, India ranks fourth globally in wind and solar power, poised for doubling capacity additions by 2026.
Winsol Engineers IPO Details
Winsol Engineers IPO Date
Winsol Engineers IPO is open from May 6, 2024, to May 9, 2024. The IPO will be listed on NSE Emerge.
Winsol Engineers Ltd Price Band
Winsol Engineers is a book bult issue IPO. The price band is set at ₹71 to ₹75 per share.
Winsol Engineers IPO Lot Size
The lot size for Winsol Engineers Limited’s IPO is 1,600 shares with a minimum investment of ₹1,20,000.
Winsol Engineers IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Working capital requirements;
- General corporate purposes.
Peer Details
Winsol Engineers considers onlyKonstelec Engineers Limited as its listed peers.
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Contact Details of Winsol Engineers Limited
Registered office: Shop No. 301, Madhav Commercial Complex, Near Crystal Mall, Khodiyar Colony, Jamnagar, Gujarat, India 361006
Phone: 0288-2710708
E-mail: info@winsol.info
Financial Performance
| Particulars | 9-Month period Ending on December 31, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operations (in ₹ lakh) | 5,195.23 | 6,538.66 | 6,070.19 |
| Profit After Tax (PAT) (in ₹ lakh) | 677.26 | 518.07 | 108.46 |
| Cash & Cash Equivalents (in ₹ lakh) | 354.76 | 31.42 | 45.45 |
| Net Worth (in ₹ lakh) | 1,527.15 | 873.89 | 238.55 |
| Debt to Equity Ratio(x) | 3.41 | 2.70 | 1.21 |
| Return on Equity (%) | 56.41% | 85.08% | 37.24% |
| Return on Capital Employed (RoCE) (%) | 44.18% | 46.19% | 16.14% |
| Diluted Earning Per Share (EPS)-in absolute ₹ | 8.04 | 6.15 | 1.29 |
Know before investing
Strengths
3With over 40 years of collective experience in the engineering industry, the promoters bring invaluable vision and guidance to the company's operations, fostering steady growth and strategic implementation.
Their robust in-house operations, including design, engineering, procurement, and construction teams, ensure efficient project completion. This capability, coupled with stringent quality assurance measures, contributes to timely delivery within budget constraints.
Constant efforts to upgrade skills, modernise equipment, and streamline processes demonstrate a commitment to resource optimisation. Regular analysis and corrective measures enhance operational efficiency, ensuring optimal resource utilisation and project success.
Risks
3With outstanding litigation including tax proceedings and regulatory actions, the company faces potential financial liabilities and operational disruptions, which could impact its business and reputation.
Recent negative cash flows and reliance on engineering and consulting work for majority revenue expose the company to financial instability and hindered growth prospects.
Dependence on timely approvals and permits for business operations, coupled with potential environmental legal proceedings, pose regulatory compliance challenges that may disrupt operations and affect financial performance.
