On Friday this small-cap company hit a 5% upper circuit after its step-down subsidiary received an LOA of Rs. 2,247 Cr. Due to strong and rising volume that is higher than usual when compared to the previous day and week, the stock price has remained high. Both the 50-day and 200-day moving averages of the stock are now being traded above.
Genus Power Infrastructure Ltd
The company has a market valuation of Rs. 6,997 Cr., making it a small-cap. On Friday stock hits 5% upper circuit at Rs. 271.60 on BSE. The stock closed 2% below the 52-week high.
According to the company filing, Genus Power Infrastructure Ltd’s step-down wholly-owned subsidiary has received a Letter of Award (LOA) of Rs. 2,247 Cr for 24.18 lakh smart meters, including design, supply, installation, and commissioning. The total order book stood at around 11,000 Cr.
The stock has delivered 215% returns in one year, therefore making an investment of 1 laks one year ago now would be worth 3.15 lakhs.
As per the company filing, total revenue rose by 92% YoY from Rs. 197.07 Cr in Q1 FY23 to Rs. 280.14 Cr in Q1 FY24 and for the same period, net profit increased by 93% YoY from Rs. 11.74 Cr to Rs. 23.05 Cr.
As of June 2023, promoters hold 50.42%, FIIs hold 2.67%, DIIs hold 5.35% and Public hold a 41.56% stake in the company.
The company Genus Power Infrastructures Ltd. produces and sells electronic energy meters, metering solutions, power distribution and management projects, inverters, home and online backup power systems, solar hybrid inverters, batteries, and hybrid microcircuits.
Written by Sheshadri N
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