Multibagger smart metering stocks that delivered up to 1,200% returns in a year; Do you hold any?

Smart meters are next-generation digital electricity meters that measure energy consumption and transmit to the utility provider on a real-time basis. 

The Indian government has launched a number of initiatives to increase the country’s adoption of smart meters. It has already initiated programs such as the Smart Metre National Programme, which intends to replace 25 crore traditional meters in India with smart meters. According to the research, the India smart meter market will rise at a CAGR of 6.4 percent by 2028. 

Here are three Smart Metering stocks that delivered up to 1,200%

Genus Power Infrastructures Ltd 

Genus Power Infrastructures Ltd is a small-cap company with a market capitalization of Rs 6,759 crore. On Thursday, the company’s shares were trading at Rs 262.35 per share, dowm 2.87 from the previous close price. 

In the past year, the company’s share price increased from Rs 87.35 to current levels, giving multibagger returns of 181 percent. As a result, if an investor bought 1 lakh firm shares in the previous year, their holdings are now worth 2.81 lakhs! 

In July 2023, Genus Power received an order worth Rs 2,207.5 crore for the appointment of an Advanced Metering Infrastructure Service Provider (AMISP), which includes the design of AMI with supply and commissioning of 27.69 lakh smart prepaid meters. 

The Genus Power revenue has increased by 40 percent year on year, from Rs 187 crore in Q1FY23 to Rs 261 crore in Q1FY24. During the same timeframe, Net profit has significantly increased by 92 percent from Rs 12 crore to Rs 23 crore. 

Genus Power Infrastructures Ltd is engaged in manufacturing and providing Metering and Metering Solutions and undertaking Engineering, Construction, and Contracts’ on a turnkey basis.

RMC Switchgears Ltd. 

RMC Switchgears Ltd has a market capitalization of Rs 525 crore and is a small-cap company. On Thursday, the company’s shares were trading at Rs 765.05 per share, up 0.01 percent from the previous close price. 

In the past year, the company’s share price increased from Rs 58.60 to current levels, giving multibagger returns of 1,200 percent. Therefore, if an investor bought 1 lakh firm shares the previous year, their holdings are now worth 12 lakhs! 

The company’s revenue has increased by 204 percent year on year, from Rs 41 crore in FY 21-22 to Rs 125 crore in FY 22-23. During the same period, Net profit has increased by 1100 percent from Rs 1 crore to Rs 12 crore. 

RMC Switchgears was the first company in India to develop and manufacture specific meter enclosures and panels, and it is primarily involved in switchgear engineering, ECI contracts for the power distribution/transmission industry, and PVC marble and solid surface. 

HPL Electric & Power Ltd 

HPL Electric & Power is a small-cap company with a market capitalization of Rs 1,437 crore. The company’s shares were trading at Rs 223.50 apiece, down 1.91 percent from the previous close price. 

The company’s share price climbed from Rs 75.15 to current values during the last year, yielding 178 percent multibagger gains. As a result, if an investor bought 1 lakh firm shares the previous year, the shares are now worth 2.78 lakhs! 

HPL Electric has recently received an order for smart meters valued at Rs 903 crore This brings the company’s total pending pipeline order book to Rs 2,250 crore. 

The company’s revenue has increased by 8 percent year on year, from Rs 295 crore in Q1FY23 to Rs 320 crore in Q1FY24. In the same time frame, Company’s Net profit has Marginally increased from Rs 6.32 crore to Rs 6.97 crore.

HPL India is the largest manufacturer of smart power meters in India, offering smart energy metering systems. The company has a strong presence in five core electric equipment product verticals including metering systems, modular switches, switchgear, LED lights, and wires & cables. 

Written by Omkar Chitnis

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