Genus Power Infrastructures hits record high on order win worth Rs 2,207.5 cr

A meeting of the board of directors of the company is scheduled for today to consider and recommend dividend, if any, on equity shares of the company for FY23

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Genus Power Infrastructures’ share price jumped 16 percent on July 4, hitting an all-time high of Rs 149.65, after the company secured an order worth Rs 2,207.53 crore.

Genus Power Infrastructures received a letter of award (LOA) of Rs 2,207.53 crore for appointment of Advanced Metering Infrastructure Service Provider (AMISP) including design of AMI system with supply, installation and commissioning of 27.69 lakhs Smart Prepaid Meters, Feeder Meter, DT Meter level energy accounting.

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“This order win provides added visibility to our revenues for coming years. It also signals a strong start to order inflow in FY24. We anticipate a sharp revenue rebound in coming quarters on account of robust orderbook and healthy order inflow, and restoration of normalcy in the supply chain,” said Jitendra Kumar Agarwal, joint managing director at Genus Power Infrastructures.

Genus Power Infrastructures is market leader in various kinds of meters and has developed ‘smart metering solutions’, with in house R&D centre. The company has manufacturing plants across Jaipur, Haridwar and Guwahati with a total installed capacity of over 10 million meters.

A meeting of the board of directors of the company is scheduled on July 4 to consider and recommend dividend, if any, on equity shares of the company for FY23.

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