Shares of Genus Power Infrastructures, a provider and manufacturer of smart metering solutions for the power distribution industry, traded at a 5 percent high of Rs 408.25, hitting a record high on the BSE in intraday trade on Monday, after the company said it had received orders worth Rs 2,925.52 crore (after tax).
By 11:15 a.m., a total of 694,000 shares had changed hands and there were buy orders for 764,475 shares on the NSE and BSE. In comparison, BSE Sensex lost 0.09 percent to 80,367Since April, the stock has risen 77 percent for the 2024-25 fiscal year to date.
Genus Power Infrastructures, in a stock exchange notification, said that the company’s wholly owned subsidiary has received a Letter of Award (LOA) worth Rs 2,925 crore (after tax) for appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including design of Advanced Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of about 3.75 million smart prepaid meters, system meters including DT meters with corresponding energy billing on Design-Build Finance-Own-Operate-Transfer (DBFOOT) basis.
With these latest orders, the company’s total order book, including all special purpose vehicles (SPVs) and GIC platform, exceeds Rs 24,383 crore (net). These concessions are for 8-10 years and provide clear insights into the company’s robust future growth, the management said.
Genus Power Infrastructures is one of the largest players in the Indian electricity metering solutions sector. The company is a market leader in various types of meters and has developed ‘smart metering solutions’ with a total installed capacity of over 10 million meters. The company’s key customers include the major State-owned Electricity Boards (SEBs) and private utilities.
Meanwhile, management is optimistic that it will achieve its revenue target of around Rs 2,500 crore for fiscal 2025, with earnings before interest, taxes, depreciation and amortization (EBITDA) margin expected to be 15-16 percent. “This outlook is based on our strong order book, operational efficiencies and expected increase in smart meter installations,” management said.
Fiscal 2025 is expected to be another year of transformation for the company. The company will leverage its strong backlog, strategic partnerships and strong market position to deliver significant growth. Management also said it remains optimistic about the company’s future prospects, driven by its commitment to operational excellence, innovation and sustainable growth.
First published: August 19, 2024 | 11:48 am IS
