Genus Power hits the roof after bagging orders worth Rs 4,469 crore

Genus Power Infrastructures was locked in 5% upper circuit at Rs 466.25 after the company said that its wholly owned subsidiary has received three letter of award (LoA) of Rs 4,469.04 crore for appointment as AMISP.

AMISP stands for Advanced Metering Infrastructure Service Provider.

The contract involves design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning of about 5.59 million smart prepaid meters, system meters including DT Meters with corresponding energy accounting on DBFOOT (design, build, finance, own, operate, transfer) basis.

Jitendra Kumar Agarwal, joint managing director, Genus Power Infrastructures, said: Over the past few weeks, we have won three major orders, cumulatively valued at Rs. 11,003.08 crore (net of taxes). This includes orders worth Rs. 2,925.52 crore (net of taxes) & Rs. 3,608.52 crore (net of taxes) won in the third week of August and an additional Rs. 4,469.04 crore (net of taxes) secured now.

 

These achievements bring our total order book to about Rs. 32,500 crore (net of taxes). These concessions are for 8 to 10 years, providing clear visibility into the Company's robust future growth."

Genus Power Infrastructures is engaged in manufacture of electronic energy meters. It also undertakes EPC (engineering, procurement and construction) for power transmission and distribution projects where it provides complete turnkey solutions for transmission and distribution utilities in the state and private sectors.

The companys consolidated net profit surged 109.7% in Q1 FY25 as compared to Rs 23.05 crore posted in Q1 FY24. Revenue from operations jumped 58.6% YoY to Rs 414.16 crore in Q1 FY25.

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