On July 4, Genus Power Infrastructures’ share price rose 16%, hitting an all-time high of Rs 149.65 after the firm secured an order worth Rs 2,207.53 crore.

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

“This order win delivers added perceptibility to our revenues for coming years. It also signs a strong start to order inflow in FY24. We forestall a sharp revenue rebound in coming quarters amid robust order book and healthy order inflow, and renewal of normalcy in the supply chain,” said Jitendra Kumar Agarwal, managing director at Genus Power.

Genus Power Infrastructures is the market leader in numerous kinds of meters and has advanced ‘smart metering solutions’ with a house R&D centre. The firm has manufacturing plants across Jaipur, Haridwar and Guwahati, with an overall installed capacity of over 10 million meters.

A meeting of the company’s board of directors is scheduled on July 4 to consider and commend dividends on the company’s equity shares for FY23.