Gensol offloads Scorpius Trackers in ₹350 crore deal; check key details here

The deal is structured in two tranches that includes the transfer of exclusive global intellectual property (IP) rights (excluding India) related to Scorpius Trackers’ advanced solar tracking technology.

The transaction is expected to get the full closure by March 2026, subject to regulatory approvals and customary closing conditions, as mentioned in a stock exchange filing by Gensol Engineering.

At 12:52 PM, shares of Gensol Engineering are currently trading 0.45% lower at ₹569.40 apiece on the NSE.

The filing further added that the deal aligns with the company’s strategy to monetise high-value assets and unlock capital from subsidiaries and reinvest in its core business areas.

The funds from this transaction will be used to expand Scorpius Trackers' operations in India, strengthen Gensol’s solar EPC business, and advance broader clean energy initiatives.

"This transaction highlights the inherent value of our subsidiaries and our innovation-driven approach. The monetisation of Scorpius Trackers' US business allows us to reinvest in high-growth opportunities in India while strengthening our financial position. This is a crucial milestone in our journey to enhance shareholder value and accelerate our leadership in renewable energy," Anmol Jaggi, Chairman & Managing Director of Gensol Engineering, said.

Despite selling its US subsidiary, Gensol Engineering retains full ownership of Scorpius Trackers Pvt. Ltd. in India. The company will continue focusing on the Indian market, preserving its IP for domestic projects to drive innovation and maintain leadership in the rapidly growing solar energy sector, Gensol stated.

The Ahmedabad-based reported over 6% rise in consolidated profit after tax to ₹18 crore in the December quarter, on account of increased revenue. It posted ₹17 crore PAT in the year-ago period, the company said in a statement. The earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at ₹63 crore during the quarter compared to ₹53 crore a year earlier.