On August 17, 2024, Genus Power Infrastructures Limited announced that its wholly-owned subsidiary secured 3 Letters of Award (LOA), totalling ₹2,925.52 crore (excluding taxes). These contracts are for the role of Advanced Metering Infrastructure Service Providers (AMISPs).
The scope of work includes designing an Advanced Metering Infrastructure (AMI) system and supplying, installing, and commissioning approximately 3.75 million smart prepaid meters and system meters, including Distribution Transformer (DT) meters. Additionally, the project involves providing Facility Management Services (FMS) and conducting energy accounting, all on a DBFOOT (Design, Build, Finance, Own, Operate, Transfer) basis.
Mr Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd, said, “Our Company has successfully secured three new orders worth ₹2,925.52 Crore (net of taxes). This ongoing success highlights the trust our clients place in our expertise and the exceptional quality of our offerings. With these recent orders, our total order book, including all SPVs and the GIC Platform, exceeds ₹24,383 crore (net of taxes). These concessions are for 8 to 10 years, providing clear visibility into the Company’s robust future growth. ”
In their standalone quarterly results for March 2024, Net sales jumped 107.65% to ₹420.12 crore, compared to ₹202.32 crore in March 2023. The company’s net profit also saw a significant increase of 151.53%, reaching ₹31.37 crore, up from ₹12.47 crore in the same period last year. EBITDA grew by 130.46% to ₹72.02 crore, compared to ₹31.25 crore in March 2023. Additionally, Genus Power’s earnings per share (EPS) rose to ₹1.06 in March 2024, up from ₹0.49 in March 2023.
Genus Power Infrastructures Ltd., established in 1995, is one of the leading companies in India’s electricity metering solutions industry, holding around 27% of the market share. The company is a market leader in various types of meters and has developed advanced smart metering solutions supported by its in-house R&D centre. In addition to its metering business, Genus also has an engineering, construction, and contracts (ECC) division that complements its core operations.
On August 19, 2024, the share price of Genus Power Infrastructures Ltd opened at ₹408.05, touching the day’s high of ₹408.05 as of 09:47 AM on NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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