Genus Power locked at upper circuit on bagging orders worth Rs 3,115 crore

With this order, the total order book now stands at over Rs 14,000 crore.

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Genus Power Infrastructures share price locked at 5 percent upper circuits after the company’s wholly owned subsidiary received two letters of awards (LOA) worth Rs 3,115.01 crore for appointment of Advanced Metering Infrastructure Service Providers (AMISPs). At 09:22 hrs Genus Power Infrastructures was quoting at Rs 273.80, up Rs 13.00, or 4.98 percent and there were pending buy orders of 201,897 shares, with no sellers available.

This includes design of advance metering infrastructure (AMI) system with supply, installation and commissioning with FMS of 34.79 lakh smart prepaid meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis.

With this, the total order book now stands at over Rs 14,000 crore (net of taxes) – which gives visibility into robust future revenue growth, company said.

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In August, the company won a Rs 2,247.37-crore smart meter order for 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 company also received a letter of award of Rs 2,209.84 crore (net of tax) for providing advanced Metering infrastructure under the Revamped Distribution Sector Scheme.