Why Gensol Engineering is down 90% in 3 months ?

Gensol Engineering’s stock has been in free fall, plunging 80% year-to-date in 2025. The company faced multiple challenges, including a major shake-up at BluSmart Mobility, a key partner. BluSmart saw several top executives resign, raising concerns about its stability. Adding to the turmoil, Gensol decided to sell 2,997 electric vehicles to Refex Green Mobility for ₹315 crore, only to lease them back. This move has left investors uneasy, as the deal awaits regulatory approval.

The situation worsened with credit rating downgrades by CARE and ICRA, citing delays in loan repayments. Allegations of falsified debt servicing documents further dented investor confidence. Although Gensol denies any wrongdoing and has launched an internal probe, the damage is done.

In just five days, the stock dropped 20%, and over the past month, it crashef 63%. With no signs of recovery, analysts advise caution. Gensol’s market cap now stands at ₹785.84 crore, a stark reminder of its struggles. Investors are urged to stay on the sidelines until the company shows clear signs of a turnaround. The road ahead looks challenging for Gensol.