Gensol Engineering shares in focus today post 40% rout, here's why 

Shares of Gensol Engineering Ltd are in focus today after the board said it has approved the resignation of its Chief Financial Officer (CFO) Ankit Jain, with effect from March 6, 2025.Gensol Engineering stock has fallen 40% in the last three sessions.

Gensol stock hit the lower circuit of 10% to a fresh 52-week low of Rs 335.35 on BSE in the previous session. Market cap of the firm slipped to Rs 1,274.41 crore. Total 0.25 lakh shares changed hands amounting to a turnover of Rs 83.25 lakh on BSE.

Gensol has now appointed Jabirmahendi Mohammedraza Aga as the new CFO. Aga has played various roles within the Gensol Group in corporate finance, risk management, investor relations and other roles, the company said.

Earlier this week, credit ratings agency CARE Ratings downgraded the company’s long-term and short-term bank facilities due to delays in servicing its term loan obligations. ICRA too downgraded its credit rating for Gensol Engineering.

Long-term bank facilities of the company worth Rs 639.70 crore have been downgraded to CARE D from CARE BB+; stable.

Similarly, ratings for long term/ short term bank facilities worth Rs 76.30 have been lowered to CARE D/CARE D from CARE BB+; Stable/CARE A4+, said Gensol Engineering.

"CARE Ratings Limited has revised the ratings assigned to the bank facilities of Gensol Engineering Limited (GEL) on account of on-going delays in the servicing of term loan obligation as per feedback from its lenders. The rating action is in line with CARE’s policy on default recognition," said the firm.

Gensol Engineering is a part of the Gensol group of companies, which offers engineering, procurement, and construction (EPC) services for the development of solar power plants.