Genus Power Infrastructures 52-week high

Genus Power Infrastructures Hits a New 52-Week High as Subsidiary Secures ₹2,925.52 Crore in Smart Meter Projects

Genus Power Infrastructures has made headlines by hitting a 52-week high, with its share price locked in a 5% upper circuit. This surge follows a significant win by the company’s wholly-owned subsidiary, which received three Letters of Award (LOAs) valued at a whopping ₹2,925.52 crore. These awards are for the deployment of smart metering projects that could redefine the company’s future.

In a recent disclosure to the exchange, Genus Power Infrastructures revealed that its subsidiary secured these LOAs for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs). The responsibilities of these AMISPs include designing the Advanced Metering Infrastructure (AMI) system and overseeing the supply, installation, and commissioning of approximately 3.75 million Smart Prepaid Meters. Additionally, the project includes the deployment of system meters, such as Distribution Transformer (DT) Meters, with comprehensive energy accounting based on the Design, Build, Finance, Own, Operate, and Transfer (DBFOOT) model.

Jitendra Kumar Agarwal, the Joint Managing Director of Genus Power Infrastructures, expressed his pride in this achievement, stating, “This continuous success is a testament to the trust our clients place in our expertise and the exceptional quality of our services. With these new orders, our total order book across all Special Purpose Vehicles (SPVs) and the GIC Platform now exceeds ₹24,383 crore. These contracts, spanning eight to ten years, provide clear visibility for the company’s robust future growth.”

The financial performance of Genus Power Infrastructures has also been impressive, with the company’s net profit more than doubling to ₹42.4 crore for the quarter ending June 2024. This is a significant jump from the ₹19.3 crore reported in the same period last year. The company also saw a remarkable 59% increase in revenues, which surged to ₹414.2 crore, up from ₹261.1 crore in the corresponding quarter of the previous year.

Genus Power Infrastructures commands a strong position in India’s electricity metering solutions industry, holding an estimated 27% market share. The company has established itself as a market leader across various meter types, thanks to its innovative ‘smart metering solutions’ developed through its in-house research and development center. Beyond its meter business, Genus Power also operates an engineering, construction, and contracts (ECC) division. The company’s manufacturing plants, located in Jaipur, Haridwar, and Guwahati, boast a combined installed capacity of over 10 million meters.

Genus Power Share Price Today

Today, Genus Power’s share price opened at ₹408.25 per share on the Bombay Stock Exchange (BSE). According to Ruchit Jain, Lead Research Analyst at 5paisa, the stock has recently resumed its uptrend after consolidating above the 40-Day Exponential Moving Average (DEMA). Jain advises traders with existing long positions to continue riding the trend with a positive bias, noting that immediate support is now around ₹360.

Conclusion

Genus Power Infrastructures is on a winning streak, with its share price reflecting the company’s strong performance and promising future. With a significant order book and continued financial growth, the company is well-positioned to maintain its leadership in the smart metering solutions industry.

FAQs:

1.Why did Genus Power Infrastructures’ share price hit a

A. AMISPs, or Advanced Metering Infrastructure Service Providers, are responsible for designing and implementing the smart metering system.

2.How much is Genus Power’s total order book now?

A. The company’s total order book, including all SPVs and the GIC Platform, now exceeds ₹24,383 crore.

3.What was Genus Power’s net profit for the quarter ending June 2024?

A. The company’s net profit more than doubled to ₹42.4 crore in the quarter ending June 2024.

4.How has Genus Power performed financially compared to last year?

A. The company’s revenue increased by 59%, reaching ₹414.2 crore, compared to ₹261.1 crore in the same quarter last year.

5.Where are Genus Power’s manufacturing plants located?

A. The company’s manufacturing plants are in Jaipur, Haridwar, and Guwahati.

6.What is the current market share of Genus Power in India’s electricity metering solutions industry?

A. Genus Power holds an estimated 27% market share in India’s electricity metering solutions industry.

7.What advice do analysts give regarding Genus Power’s share price?

A. Analysts recommend holding onto existing long positions, as the stock has resumed its uptrend.

8.What is the immediate support level for Genus Power’s share price?

A. The immediate support level for the share price is around ₹360.

9.What additional business does Genus Power operate apart from meter manufacturing?

A. In addition to meter manufacturing, Genus Power operates an engineering, construction, and contracts (ECC) division.

Genus Power Infrastructures 52-week high

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