Genus Power Infrastructures locked in an upper circuit of 5% at Rs 408.25 after the company announced that its wholly-owned subsidiary received three letters of awards (LOA) worth totaling to Rs 2,925.52 crore.
The scope of the projects entail appointment of advanced metering infrastructure service providers (AMISPs) including design of advance 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 accounting on DBFOOT (design, build, finance, own, operate and transfer.) basis.
Jitendra Kumar Agarwal, joint managing director, Genus Power Infrastructures said, Our company has successfully secured three new orders worth of Rs 2,925.52 crore (net of taxes). With these recent orders, our total order book, including all SPVs and the GIC Platform, exceeds Rs 24,383 crore (net of taxes).
These concessions are for 8 to 10 years, providing clear visibility into the company's robust future growth. As we celebrate this achievement, we remain dedicated to upholding the highest standards of quality, innovation, and customer satisfaction.
Genus Power Infrastructures is amongst the largest players in Indias electricity metering solutions industry, with around 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.
The companys consolidated net profit surged 109.7% in Q1 FY25 as compared to Rs 23.05 crore posted in Q1 FY24. Revenue from operations jumped 58.6% YoY to Rs 414.16 crore in Q1 FY25.
The scrip hit an all time high of Rs 408.25 in intraday today.
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