The shares of Genus Power Infrastructures Limited were trading at ₹437.75 up by ₹20.80 or 4.99% at 10:35 am today on the NSE.
Genus Power Infrastructures Limited’s wholly-owned subsidiary has been awarded three contracts totalling Rs 3,608.52 crore (net of taxes) for smart metering projects. The orders, announced on August 20, involve the design, supply, installation, and commissioning of approximately 4.26 million smart prepaid meters and related infrastructure on a DBFOOT basis.
Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd. said, “Our company has successfully secured three new orders worth of ₹3,608.52 Crore (net of taxes). This ongoing success highlights the trust our clients place in our expertise and the exceptional quality of our offerings. With these recent orders, our total order book, including all SPVs and the GIC Platform, stands at about ₹28,000 crore (net of taxes). These concessions are for 8 to 10 years, providing clear visibility into the company’s robust future growth. As we celebrate this achievement, we remain dedicated to upholding the highest standards of quality, innovation, and customer satisfaction.”
Genus Power claims a 27% market share in India’s electricity metering solutions industry. The company has manufacturing facilities in Jaipur, Haridwar, and Guwahati, and its total installed capacity exceeds 10 million meters annually.
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Published on August 21, 2024
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