Gensol Engineering appoints Ankit Jain as CFO

Gensol Engineering announced that it has appointed Ankit Jain as its new chief financial officer (CFO), effective from 7 October 2024.

Ankit will be succeeding Jabir Mahendi Aga, who is moving into an expanded leadership role within Gensol Group.

Ankit holds a Master's degree from The Institute of Chartered Accountants of India (ICAI). He brings over 20 years of extensive experience across finance and accounting functions, including fundraising, M&A, investor relations, corporate governance, auditing and taxation. In his current role, he will work with the company leadership to execute strategies for establishing a solid financial foundation and enhancing corporate governance for the company.

Before joining the company, Ankit served as vice president at finance at Zetwerk India. Throughout his extensive professional journey, he has also held key positions in various companies such as Baker Hughes, Philips Lighting, GE Oil & Gas and KPMG, where he played a crucial role in shaping and scaling these organizations.

Meanwhile, Jabir Mahendi Aga has resigned from his position as CFO to take on broader responsibilities within the Gensol Group, effective from 7 October 2024.

Anmol Singh Jaggi, chairman and managing director, Gensol Engineering said, "We are delighted to welcome Ankit to the Gensol team as our new CFO. I am positive that Ankit's extensive experience in finance and leadership roles, and his expertise in driving strategic financial initiatives will be invaluable in helping Gensol lead the energy transition. I extend my best wishes for his success in this new role and look forward to working closely with Ankit to propel Gensol to new heights.

Ankit Jain said, I am honored to assume the role of CFO at Gensol Engineering and see it as a great opportunity to contribute to the energy transition in a meaningful way. I am committed to working with the senior leadership and board members to establish a robust financial strategy. Together, we will drive innovation and sustainable growth, positioning Gensol as a leader in the renewable energy sector.

Gensol Engineering offers end-to-end EPC and solar advisory services. The company is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.

The company's consolidated net profit doubled to Rs 20.48 crore in the quarter ended June 2024 as against Rs 10.24 crore during the previous quarter ended June 2023. Sales rose 104.11% to Rs 295.15 crore in Q1 FY25 over Q1 FY24.

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