Genus Power Infra Wins Rs 1,026-Crore Smart Meter Deal, Order Book Tops Rs 20,000-Crore
With the recent order, the company's total order book has now surpassed Rs 20,000 crore.
A unit of Genus Power Infrastructures Ltd. has bagged a Rs 1,026.31-crore order to supply and install about 10 lakh smart metres.
The order involves the design of an advanced metering infrastructure system with supply, installation and commissioning; a flexible manufacturing system of about a million smart prepaid metres and system metres—including DT metres—with corresponding energy accounting on a DBFOOT (Design-Build Finance-Own-Operate-Transfer) basis, according to an exchange filing on Thursday.
"With the addition of the recent order, our total order book has now surpassed the significant milestone of Rs 20,000 crore (net of taxes)," the company's Joint Managing Director, Jitendra Kumar Agarwal, said.
The Jaipur-based company claims to hold a 27% market share in India’s electricity metering solutions industry and its customers include major state electricity boards and private utilities.
In October, Genus Power Infra bagged orders worth Rs 3,115 crore for the supply of 34.8 lakh smart metres.
Agarwal had earlier told NDTV Profit that the electricity metre manufacturing firm expects multifold growth in earnings in fiscal 2025.
Shares of Genus Power closed 2.34% lower at Rs 223.35 apiece ahead of the announcement on Thursday, as compared with a 1.34% advance in the benchmark BSE Sensex.
