Shares of Genus Power Infrastructures Ltd surged 5% to reach the upper circuit, setting a new high of Rs 465.80 after it received orders totalling Rs 4,469 crore. 

With this, the company’s overall order book (net of taxes) is estimated to be around Rs 32,500 crore. Given that these concessions are in place for eight to ten years, highlighting a clear visibility into the company’s strong future growth. 

Genus Power Infrastructures stated in an exchange filing that its wholly-owned subsidiary has received a Letter of Award (LOA) for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs) worth Rs 4,469.04 crore.

The company claims that the order includes the supply, installation, and commissioning of approximately 5.59 million smart prepaid meters in addition to the design of the Advanced Metering Infrastructure (AMI) system. 

These comprise Design-Build Finance-Own-Operate-Transfer (DBFOOT) DT meters with related energy accounting.

Over the last few weeks, the company has secured three major order, taking its total value to Rs 11,003.08 crore (net of taxes). These orders include orders worth Rs 2,925.52 crore and Rs 3,608.52 crore in the third week of August, on top of the additional order of Rs 4,469.04 crore that it secured today.

Genus Power Infrastructures is one of the largest suppliers of power metering solutions in India, holding a roughly 27% market share. The company dominates the market in many different types of meters and has developed “smart metering solutions,” with an installed capacity of over 10 million meters cumulatively.

At 12:25 pm, the shares of Genus Power were trading 4.79% higher at Rs 464.90 on NSE.

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