Genus Power Secures ₹4,469 Crore in Orders, Hits Upper Circuit Limit

Genus Power Infrastructures experienced a notable surge in its stock price, hitting the 5% upper circuit limit at ₹466.25, following the announcement of significant new contracts. The company's wholly-owned subsidiary has received three letters of award (LoA) totaling ₹4,469.04 crore for its role as an Advanced Metering Infrastructure Service Provider (AMISP). The contracts involve designing and implementing an Advanced Metering Infrastructure (AMI) system, which includes the supply, installation, and commissioning of approximately 5.59 million smart prepaid meters and system meters, including distribution transformer meters. This project will be executed on a DBFOOT (design, build, finance, own, operate, transfer) basis.

Jitendra Kumar Agarwal, Joint Managing Director of Genus Power Infrastructures, highlighted the company’s recent successes, noting that they have secured major orders valued at ₹11,003.08 crore (net of taxes) in recent weeks. This total includes contracts worth ₹2,925.52 crore and ₹3,608.52 crore won earlier in August, alongside the latest ₹4,469.04 crore order. These new contracts significantly bolster the company’s order book, which now stands at approximately ₹32,500 crore (net of taxes). The long-term nature of these orders, spanning 8 to 10 years, offers strong visibility into the company's future growth prospects.

Genus Power Infrastructures, known for its electronic energy meters, also undertakes engineering, procurement, and construction (EPC) for power transmission and distribution projects. The company provides comprehensive turnkey solutions to utilities in both the state and private sectors, underscoring its pivotal role in the energy sector.

The substantial increase in order value reflects growing demand for smart metering solutions and positions Genus Power Infrastructures for robust growth in the coming years. The company’s expanded order book and strategic contracts reinforce its standing as a key player in the energy and infrastructure sectors.

News by Rahul Yelligetti