Gensol Engineering Limited, a leading player in India’s renewable energy sector, has welcomed Jabirmahendi Aga back as its Chief Financial Officer (CFO), effective immediately. Aga takes over from Ankit Jain, who has left the company to pursue other opportunities. This change was confirmed in a regulatory filing made on March 6.
The company’s shares were trading at ₹341.70, a rise of ₹6.90 or 2.06% on the NSE at 10:05 AM today. However, they had reached their 52-week low earlier in the day at ₹307.25.
With over 14 years of experience in financial management, Aga is well-equipped to handle the company’s current financial difficulties. He previously held the role of CFO at Gensol Engineering and now resumes his position. Aga will report directly to Anmol Singh Jaggi, the Chairman and Managing Director of the company.
In a statement, Jaggi expressed that the company is “going through a tough time” and emphasized that Aga is “the man best suited to lead us through it,” hinting at the financial challenges the firm is facing.
Founded in 2012, Gensol Engineering has made a significant mark in the solar power industry, offering engineering, procurement, and construction (EPC) services. The company has successfully completed over 770 MW of solar projects across India and is ranked among the top 10 EPC providers in the country.
Recently, Gensol has expanded its operations into battery energy storage and green hydrogen production, aiming to further contribute to the clean energy sector. Additionally, the company is also making strides in electric vehicles (EVs), with manufacturing facilities in Pune and providing EV leasing solutions to a range of clients, including government agencies and private corporations.
As Gensol Engineering moves forward, the return of Aga signals a focused approach towards navigating the current financial challenges while continuing to push for growth in India’s renewable energy and electric mobility markets.
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