Genus Power Secures Rs 2,247 Cr Order, Stock Surges 5% with Back-to-Back Upper Circuit

Genus Power Infrastructures Limited, a prominent manufacturer providing metering and metering solutions, has made a significant announcement regarding the acquisition of an order. 

As detailed in the official report, the company’s wholly-owned subsidiary has bagged an order worth Rs 2,247.37 crore (after tax deductions).  

The order pertains to the selection of providers for Advanced Metering Infrastructure Services (AMISPs). The responsibilities encompass designing the Advanced Metering Infrastructure (AMI) system, along with the supply, installation, and commissioning, including Facility Management Services (FMS), for 24.18 Lakh Smart Prepaid Meters and system meters. These include OT Meters, incorporating corresponding energy accounting under the DBFOOT model (a HYBRID Model involving CAPEX Plus OPEX). 

Numerous State Electricity Boards (SEBs) have initiated the competitive bidding process to acquire smart meters. This development underscores the positive results achieved through the ‘Reforms-Based, Result-Linked Power Distribution Sector Scheme’. The Company is anticipating a robust upswing in order volumes to persist throughout the upcoming quarters of FY2024. 

The company’s order book stands at approximately Rs 11,000 crore (after tax deductions). This achievement serves as a significant catalyst for the organisation, fostering a steadfast confidence that it will propel exponential expansion within the business endeavours in the Indian market. This accomplishment further solidifies our position as the preeminent provider of intelligent metering solutions in India. 

The demand for intelligent meters is experiencing rapid growth in India, driven by the government’s Revamped Distribution Sector Scheme (RDSS), which aims to install 250 million smart meters in households nationwide to enhance power sector efficiency. We are strategically positioned to harness this substantial growth potential. Our track record underscores our proficiency in the timely and budget-conscious delivery of metering projects. Moreover, our extensive network of partners and suppliers enables us to offer comprehensive solutions to our clientele. We eagerly anticipate assuming a pivotal role in the transformation of the Indian power sector, said the report. 

The market capitalization of the company is Rs 6997 crore while the stock is trading at Rs 271.60 each on the BSE and hits the upper circuit.  

Additionally, the stock has generated an impressive return of 200% in the last six months and 975% in the last three months. 

Investors must keep this stock on the radar. 

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.