Genus Power Infra shares gain 3% after co begins production at new facility

Shares of Genus Power Infrastructures gained 3.15 per cent at 429.50 per share on the BSE in Monday’s intraday deals. This came after the company announced the commencement of commercial production of its smart electronic energy meter manufacturing facility in Assam.

 

“We are now pleased to inform you that the company inaugurated the manufacturing facility on December 11, 2024, for trial production, and commenced commercial production on December 13, 2024,” the company said in an exchange filing. 

 

Genus Power Infrastructures Ltd. is an India-based company that manufactures and distributes smart meters and other power infrastructure equipment. As a leading smart meter manufacturer in India, Genus has installed over 75 million meters that can digitally monitor consumption, transmit data to energy providers, and be remotely adjusted. 

 

 

Additionally, Genus offers engineering, construction, and contracting services for power projects, including substation erection, transmission and distribution line laying, and rural electrification.

 

Genus Power Infrastructures reported a significant increase in its standalone net profit, reaching Rs 58.25 crore for the September quarter, driven by higher income. This compares to Rs 11.02 crore in the same period of the previous fiscal year (July-September 2023-24). 

 

The company’s total income also saw a substantial rise, growing to Rs 518.28 crore from Rs 268.51 crore a year ago.

 

Meanwhile, on the equities side, Genus Power’s stock has underperformed the market year to date as it has surged 30 per cent, while rising 79 per cent in the last one year. In comparison BSE Sensex has risen 6 per cent year to date and 14 per cent in a year. 

 

The company has a total market capitalization of Rs 12,796.91 crore. Its shares are trading at a price to earnings multiple of 87.92 times and at an earning per share of Rs 4.79. 

 

At 11:21 AM; the shares of the company were up 1.15 per cent at Rs 421.15 a piece. By comparison, the BSE Sensex was trading 0.52 per cent lower at 81,702.60 level.