Genus Power Infrastructures Ltd. has informed the exchange that the company has received an order worth Rs 2,207.53 crore for the appointment of an Advanced Metering Infrastructure Service Provider (AMISP) including the design of AMI system with supply, installation and commissioning of 27.69 Lakhs Smart Prepaid Meters, Feeder Meter, DT Meter level energy accounting and FMS of these 27.69 Lakhs smart meters.
Genus Power Infrastructures Limited has received a letter of award (LOA) of Rs. 2,207.53 crore for appointment of Advanced Metering Infrastructure Service Provider (AMISP) including design of AMI system with supply, installation and commissioning of 27.69 Lakhs Smart Prepaid Meters, Feeder Meter, DT Meter level energy accounting and FMS of these 27.69 Lakhs smart meters.
Many State Electricity Boards (SEBs) have issued requests and solicited bids for the installation of smart meters, indicating that the ‘Reforms-Based, Result-Linked Power Distribution Sector Scheme’ is having a tangible effect. The company foresees a strong influx of orders in the upcoming quarters of FY24.
Mr. Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd. said, “We are delighted to announce that our company has won a significant order worth Rs. 2,207 crore. This is a significant achievement for our company, and it is a testament to our commitment to providing innovative and reliable solutions to our customers. It also demonstrates the trust that our customers have in our ability to deliver high-quality products and services.
This order win provides added visibility to our revenues for coming years. It also signals a strong start to order inflow in FY24. We anticipate a sharp revenue rebound in coming quarters on account of robust orderbook and healthy order inflow, and restoration of normalcy in the supply chain.
The implementation of the Revamped Distribution Sector Scheme (RDSS) is expected to have a radical impact on the Indian metering industry. The scheme will lead to a multifold increase in the annual size of the industry, as well as a transition from conventional to smart meters. This will allow for better operating margins for metering companies.”
Stock Movement
On Monday, the stock of Genus Power Infrastructures ended 2.20% higher at Rs 129.60 apiece with Rs 131.10 intraday high and Rs 123.80 intraday low on BSE. It traded the 52 week high on Jul 03, 2023, at Rs 131.10 apiece and the 52-week low on Aug 08, 2022, at Rs 72.55 apiece, respectively.
It gave 12.87% positive return in the past 1 week. It jumped 32.16% in the past 1 month and 52.38% in 3 months, respectively. In the past 1 year, it gave 75.02% positive return. In 3 years, it gave 456.22% robust return. In the past 5 years, it gave 214.95% positive return.
About – Genus Power Infrastructures Ltd.
Genus Power Infrastructures Ltd., started in 1995, is amongst the largest players in India’s electricity metering solutions industry, with ~27% market share. Company is market leader in various kinds of meters and has developed ‘smart metering solutions’, with in house R&D centre. Company also has engineering, construction, and contracts (ECC) division which complements the existing meters business. Company has manufacturing plants across Jaipur, Haridwar and Guwahati with a total installed capacity of over 10 million meters. Our key customers include the major State electricity boards (SEB’s) and private utilities.
