Genus Power Reports Order Book of Over Rs. 30,000 Cr.

Genus Power Infrastructures Ltd., a Smart Metering solutions provider & manufacturer for the Power Distribution Industry, has reported an order book of Rs. 31,776 crore as of 30th September 2024.

Commenting on the performance Mr. Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures said, “Our strong order book provides us with a favorable position to achieve sustained growth in the upcoming quarters. We anticipate full-scale execution to accelerate from Q3 FY25 onwards”.

Mr. Agarwal added that management is confident that the company will reach its revenue target of approximately Rs. 2,500 crore for FY25. He mentioned that the company is collaborating with third-party Advanced Metering Infrastructure Service Providers (AMISPs) for smart meters and has also obtained Letters of Intent (LOIs) from them. Genus Power Infra., however, has not specified the names of these LoI-awarding companies.

He said, “In conclusion, FY25 is positioned to be a transformative year for the company, as we leverage our strong order book, strategic partnerships, and solid market position to drive substantial growth”.

It is interesting to note that there has been a change in Genus Power Infra.’s shareholding pattern during Q2 of FY-25. Promoter shareholding has decreased to 39.33% as of 30th September 2024 from 42.66% during 30th June 2024. Moreover, shareholding of Foreign Institutional Investors (FIIs) in the company has increased to 22.49% during Q2 of FY-25 from 17.91% in Q1 of FY-25. Interestingly, FIIs’ shareholding in the company has increased substantially since Q4 of FY-24. FIIs held merely 2.05% in the company during Q3 of FY-24, which increased to 16.87% during Q4 of FY-24.