Genus Power Q1 Results Review - Strong Start To FY25: ICICI Securities

ICICI Securities Report

Genus Power Infrastructures Ltd. reported a healthy set of Q1 FY25 numbers with its revenue growing to Rs 4.1 billion, up 60% YoY. Gross margins improved markedly to 44.4% (versus 34.6% YoY) owing to stable raw material pricing.

As a result, with significant growth in execution, Ebitda margin expanded to 15.3% (versus 10.9% YoY) and Ebitda grew 2.3 times YoY to Rs 630 million. As a result, profit after tax more than doubled to Rs 420 million.

Order book remains robust at Rs 215 billion and its pipeline for tenders remains strong at 90–100 million meters over the next one–two years.

As a result, we maintain our 'Buy' rating on Genus with a revised target price of Rs 445, valuing the stock at 35 times FY26E earning per share of Rs 12.5/share (versus 30 times FY26E earning per share of Rs 11.5/share previously).

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.