Genus Power Infrastructures was locked in a five percent upper circuit in the early trade on September 1 after its step-down wholly owned subsidiary won a Rs 2,247.37- crore smart meter order.
The order includes designing advanced metering infrastructure (AMI) system with supply, installation and commissioning with FMS of 24.18 lakh smart prepaid meters, system meters including OT meters with corresponding energy accounting under DBFOOT model (HYBRID Model, CAPEX Plus OPEX).
“We foresee the robust surge in order volumes to continue in the upcoming quarters of fiscal year 2024,” the company said in an exchange filing.
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This is the third such order in the past two months and a testament to the trust that customers have in their capabilities, Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures, said.
The total order book now stands at around Rs 11,000 crore (net of taxes) and further strengthens the company’s position as the leading smart metering solutions provider in India, he added.
In August, a wholly-owned subsidiary of the company received the letter of award of Rs 2,209.84 crore (net of tax) for providing advanced Metering infrastructure under the Revamped Distribution Sector Scheme.
At 9.32 am, Genus Power Infrastructures was quoting at Rs 271.60, up Rs 12.90, or 4.99 percent. There were pending buy orders of 384,933 shares, with no sellers available on the BSE.
The share touched a 52-week high of Rs 277 on August 29, 2023 and a 52-week low of Rs 76.50 on October 17, 2022. The stock is trading 1.95 percent below its 52-week high and 255.03 percent above its 52-week low.
Genus Power Infrastructures is the market leader in various kinds of meters and has developed “smart metering solutions”. The company also has an engineering, construction, and contracts (ECC) division, which complements its meters business.
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