Genus Power Infra shares rally 4% on winning Rs 2,259.94-cr order

Genus Power Infrastructures

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Shares of Genus Power Infrastructures zoomed 4 percent intraday on November 8 after the company won an order worth Rs 2,259.94 crore for providing advanced metering infrastructure service.

The company's wholly owned subsidiary has received a letter of award (LOA) worth Rs 2,259.94 crore (net of taxes) for the appointment of advanced metering infrastructure service providers (AMISPs), including design of advance metering infrastructure (AMI) system with supply, installation and commissioning with FMS of 27.33 lakh smart prepaid meters, system meters, including DT Meters with corresponding energy accounting on DBFOOT basis.

“Since July 2023, our company has been on a remarkable winning streak, securing a total of six prestigious orders, worth about Rs 15,160 crore (net of taxes) in total for installation of approximately 172.03 Lakhs Smart Prepaid Meters," said Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures.

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Earlier this month, the company's wholly owned subsidiary received two letters of awards (LOA) worth Rs 3,115.01 crore for appointment of AMISPs.

In September, the company's step-down wholly owned subsidiary won a Rs 2,247.37- crore smart meter order, which 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).

The meeting of the board of directors of the company is scheduled on November 9 to consider and approve the unaudited financial results for the quarter and half-year ended September 30.