This S&P BSE Smallcap Stock announced receipt of a huge order worth Rs. 3,115 Crore. The company has a market cap of Rs. 7,054 crore and is 6% away from its 52 week high, trading at Rs. 273.80 versus Rs. 260.80 at closing on Thursday.
The stock is seeing volumes that are over 2x the monthly average, trading 5% and 102% respectively above its 20 day and 200 day moving averages.
Genus Power Infrastructures Ltd (“Genus”) is a multibagger, delivering 240% over a 1 year period, and 224% YTD. This is consistent and is indicated by 830% return over a 3 year period. Meaning, if you invested 1 lakh in Genus 3 years ago, it would have now been worth Rs. ~9.3 lakh!
In a filing dated 9th October 2023, Genus stated that its wholly owned subsidiary has received two letters of awards (LOA) worth Rs. 3,115.01 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 34.79 Lakhs Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis.
Many State Electricity Boards (SEBs) have commenced the bidding process to procure smart meters, underscoring the positive implications of the ‘Reforms-Based, Result-Linked Power Distribution Sector Scheme’. Genus anticipates a sustained and significant increase in order volumes throughout the upcoming quarters of FY24.
Mr. Jitendra Kumar Agarwal, Joint Managing Director at Genus said, “We are pleased to announce our achievement in securing additional substantial orders for smart meters during the current fiscal year. This is a testament to the trust that our customers have in our capabilities and our commitment to providing high-quality products and services.
These orders reinforce our dominant market standing as the foremost provider of intelligent metering solutions in the Indian market. The burgeoning demand for smart meters is being driven by the government’s initiatives to improve the efficiency of the power sector.
These initiatives include the Revamped Distribution Sector Scheme (RDSS), which aims to install 250 million smart meters in all households across the country. Our total order book now stands at over Rs. 14,000 crore (net of taxes) – which gives visibility into robust future revenue growth.
We have a strong track record of delivering metering projects on time and within budget. We also have a wide network of partners and suppliers, which allows us to provide end-to-end solutions to our customers. We would like to thank our customers for their trust and support, and we look forward to working with them to successfully deliver these projects.”
Genus Power Infrastructures Limited manufactures and sells metering solutions in India and internationally.
It serves close to a dozen verticals, incorporated in 1992 and is headquartered in Jaipur, India. It currently has 27% market share being one of the prominent players in the domestic electricity metering industry.
Written by Sandeep R
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