Genus Power Infrastructure Ltd.'s arm on Wednesday received orders worth Rs 4,469.04 crore for three different projects. The letter of awards was issued for the appointment of advanced metering infrastructure service providers.
The orders also include the design of an advanced metering infrastructure system with supply, installation and commissioning with an FMS of about 5.59 million smart prepaid meters and system meters, including DT meters, with corresponding energy accounting on a DBFOOT basis, the company said through an exchange filing.
These orders have taken the company's order book to about Rs 32,500 crore. This is in addition to the Rs 11,003.08 crore orders the company received over the past few weeks. The orders have concessions of over eight to ten years.
“We are pleased to announce that Genus Power Infrastructures Limited continues its remarkable growth trajectory with the successful securing of significant orders, further solidifying our leadership position in the smart metering sector," said Jitendra Kumar Agarwal, joint managing director, Genus Power Infrastructure.
Agarwal further added that the electricity metering company's investment in workforce expansion and system upgrades will enable the company to execute the orders it received this month.
Genus Power Infrastructure's stock rose as much as 1.31% during the day to Rs 451.65 apiece on the NSE. The stock closed 0.48% lower at Rs 443.65 per share. This compares with a 0.14% advance in the benchmark Nifty 50. It has risen 68.18% in the last 12 months and 90% year-to-date.
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