Genus Power stock freezes at 5% upper limit; hits new high on order win

Shares of Genus Power Infrastructures, a smart metering solutions provider & manufacturer for the power distribution industry, were locked at the 5 per cent upper circuit at Rs 408.25, also its record high on the BSE in Monday’s intra-day trade after the company said it won orders worth Rs 2,925.52 crore (net of taxes).

Till 11:15 am; a combined 694,000 shares changed hands and there were pending buy orders for 764,475 shares on the NSE and BSE. In comparison, the BSE Sensex was down 0.09 per cent at 80,367. Since April, thus far in the financial year 2024-25, the stock has zoomed 77 per cent.

Genus Power Infrastructures in an exchange filing said the company's wholly-owned subsidiary has received a Letter of Award (LOA) worth Rs 2,925 crore (net of taxes) for 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 Design-Build Finance-Own-Operate-Transfer (DBFOOT) basis.

With these recent orders, the company’s total order book, including all special purpose vehicles (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, the management said.

Genus Power Infrastructures is amongst the largest players in India’s electricity metering solutions industry. The company is a market leader in various kinds 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 electricity boards (SEB’s) and private utilities.

Meanwhile, the management is optimistic about achieving its stated revenue target of approximately Rs 2,500 crore for FY25, with expected earnings before interest, tax, depreciation and amortization (EBITDA) margin of 15-16 per cent. “This outlook is based on our strong order book, operational efficiencies, and the anticipated increase in smart meter installations,” the management said.

FY25 is poised to be another transformative year for the company, with the company set to leverage its strong order book, strategic partnerships, and robust market position to achieve significant growth. The management further said they remain optimistic about the company's future prospects, driven by a commitment to operational excellence, innovation, and sustainable growth.