Genus Power Infrastructures rose 3.36% to Rs 73.75 after the company announced that it has received domestic and export orders worth about Rs 325 crore.
Within domestic geography, the company has received orders for smart meters across multiple state electricity boards and gas meters. These orders will be executed over next 12 months. With these orders, the company has crossed Rs 1,000 crore orderbook.Commenting on the order, Jitendra Kumar Agarwal, joint managing director, Genus Power Infrastructure said: "The order wins give lot of visibility to our revenues for the next few quarters. It also signals a strong start to order inflow for our industry. Genus is a leader in the smart meter business in India and the structural changes in the Industry, strong digitization eco-system created by the Government of India and improving efficiency of the SEB's, will lead to a sustainable growth for Genus in times to come. We are particularly pleased to add orders in the upcoming segment of Gas Meters which will diversify our orderbook. The orders of the Exports segment are also lucrative as they come with better margin profile and cashflows. Going forward, we expect the tendering activity to pick up and increase the pace of execution."
On a consolidated basis, Genus Power Infrastructures reported net loss of Rs 2.49 crore in Q2 September 2021 as against net profit of Rs 0.89 crore in Q2 September 2020. Net sales rose 7.67% to Rs 177.79 crore in Q2 September 2021 over Q2 September 2020.
Genus Power Infrastructures is amongst the largest players in India's electricity metering solutions industry, with ~27% market share. It makes various types of meters and has developed 'smart metering solutions', with in house R&D centre. The company also has engineering, construction, and contracts (ECC) division which complements the existing meters business.
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