Shares of Genus Power surged to a new all-time high of Rs 466 each on August 29, hitting the 5 percent upper circuit limit. This remarkable gain came after the company announced its arm secured new orders worth Rs 4,469 crore. With these new contracts, the company’s total order book now stands at a robust Rs 32,500 crore.
Trading activity was exceptionally high on this day, with around 2.5 million equity shares changing hands on both the BSE and NSE. This volume was significantly higher than the 0.7 million shares traded during the previous session. So far this year, Genus Power shares have more than doubled, up 100 percent, surpassing the benchmark Nifty 50 index's 15 percent rise.
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Genus Power said that its wholly-owned subsidiary had received a letter of award valued at Rs 4,469 crore. This order is for the appointment of advanced metering infrastructure service providers, covering the design, supply, installation, commissioning, and management of about 5.59 million smart prepaid meters, including distribution transformer (DT) meters with energy accounting. The contract will be executed on a Design-Build-Finance-Own-Operate-Transfer (DBFOOT) basis.
In recent weeks, the company has secured three major contracts, totaling Rs 11,003.08 crore. This includes orders worth Rs 2,925.52 crore and Rs 3,608.52 crore awarded in the third week of August, in addition to the new Rs 4,469.04 crore order.
Genus Power is one of India's leading providers of electricity metering solutions, commanding approximately 27 percent of the market. The company is a leader in various types of meters and has developed advanced smart metering solutions, with an installed capacity of over 10 million meters. Key clients include major state electricity boards (SEBs) and private utilities.
Beyond these developments, the company’s management remains optimistic about reaching its revenue target of approximately Rs 2,500 crore for FY25. They also expect to achieve an earnings before interest, tax, depreciation, and amortization (EBITDA) margin of 15-16 percent.
"This positive outlook is driven by our strong order book, enhanced operational efficiencies, and the expected increase in smart meter installations," the management stated.
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