Genus Power Infrastructures Soars Following Rs 2,207.5 Crore Order Win
Genus Power Infrastructures witnessed a remarkable surge of 16 percent on July 4, propelling its share price to an all-time high of Rs 149.65. The surge came on the heels of the company’s notable achievement of securing an order worth Rs 2,207.53 crore.
In a significant development, Genus Power Infrastructures was awarded a letter of award (LOA) amounting to Rs 2,207.53 crore for the designation of an Advanced Metering Infrastructure Service Provider (AMISP). This includes the design of an AMI system, as well as the supply, installation, and commissioning of 27.69 lakh Smart Prepaid Meters, Feeder Meter, and DT Meter level energy accounting.
Jitendra Kumar Agarwal, the joint managing director at Genus Power Infrastructures, expressed his enthusiasm about the order win, stating, “This victory not only enhances our revenue visibility for the upcoming years but also signifies a robust start to the order inflow in FY24. With a sturdy order book, healthy order inflow, and the restoration of normalcy in the supply chain, we anticipate a substantial revenue rebound in the coming quarters.”
Renowned for its expertise in various types of meters, Genus Power Infrastructures has developed cutting-edge “smart metering solutions” through its in-house R&D center. The company operates manufacturing plants across Jaipur, Haridwar, and Guwahati, boasting a total installed capacity of over 10 million meters.
About Genus Power Infrastructures:
Genus Power Infrastructures (GPIL) was founded in 1992 and specializes in the manufacturing and distribution of electronic energy meters, power distribution management projects, hybrid microcircuits, inverters, batteries, home UPS, and online UPS. They serve customers both domestically in India and internationally. GPIL operates as a subsidiary of the Kailash Group, which has a total valuation of $300 million.
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