In today’s early morning trade, shares of Genus Power Infrastructures, one of the biggest players in India’s electricity metering solutions market, were locked in at a 5% upper circuit limit. After the company announced that its wholly owned subsidiary secured significant orders, the shares hit a new all-time high of ₹428.
In an exchange filing on Tuesday, the firm stated that its subsidiary won three Letter of Awards (LOAs) worth a total of ₹3,608.52 crore (net of taxes) for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs). These include the design of the Advanced Metering Infrastructure (AMI) system with supply, installation, and commissioning with an FMS of approximately 4.26 million Smart Prepaid Meters, system meters including DT Meters and corresponding energy accounting on a DBFOOT basis.
The company’s overall order book has increased to ₹28,000 crore with the most recent order win, giving them strong revenue visibility.
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