Genus Power Infrastructures Hits Record High, Soars Over 11% on Rs 2,207.53 Crore Order Win

4 Jul 2023 , 01:55 PM

Genus Power Infrastructures Ltd experienced a surge in its share price, reaching a new 52-week high and rising over 11% in Tuesday’s trading session. The significant increase followed the company’s receipt of a substantial order worth Rs 2,207.53 crore on Monday.

The company announced that it had been awarded a letter of award for the appointment of an Advanced Metering Infrastructure Service Provider (AMISP), encompassing the design, supply, installation, and commissioning of 27.69 lakhs smart prepaid meters, feeder meters, DT meter-level energy accounting, and FMS (Field Management System) for these smart meters.

This order win provides clearer revenue projections for Genus Power Infrastructures in the upcoming years and indicates a strong start to order inflow for FY24. The company’s management expects a rapid revenue rebound in the coming quarters due to a robust order book, high order intake, and the normalization of the supply chain.

Genus Power Infrastructures attributes the growing demand for smart meters to the impact of the ‘Reforms-Based, Result-Linked Power Distribution Sector Scheme’, which has led to requests and bids from various State Electricity Boards (SEBs) for the installation of smart meters. 

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