600 per cent jump in net profit and Rs 19,000 crore order book: This multibagger electrical equipment company bags new order worth Rs 2,259 crore!

Shares of the company have gained about 800 per cent in the last three years.

Genus Power Infrastructures Limited has won a Rs 2,259.94 crore contract to supply, install, and commission 27.33 lakh smart prepaid meters and system meters, including DT meters, with corresponding energy accounting on a DBFOOT basis. The contract also includes the design of the Advance Metering Infrastructure (AMI) system. Numerous state electricity boards are procuring smart meters, which is a positive sign for the industry. Genus Power Infrastructures expects order volumes to increase in the coming months.

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The company posted strong Quarterly Results in Q2FY24. The revenue of the company stood at Rs 258.96 crore which grew by 18.45 per cent YoY. The operating profit of the company stood at Rs 75.75 crore, while the PAT of the company stood at Rs 48.67 crore, representing an impressive growth of 621.73 per cent YoY. The company has an order book of Rs 19,000 crore. The stock has delivered multibagger returns of about 800 per cent in the last three years. Additionally, DIIs increased their stake in the company in September 2023.

Genus Power Infrastructures Limited started in 1995, is amongst the largest players in India’s electricity metering solutions industry, with a 27 per cent market share. The company is the market leader in various kinds of meters and has developed ‘smart metering solutions’, with an in-house R&D centre. The company also has an engineering, construction, and contracts (ECC) division which complements the existing meters business.

Disclaimer: The article is for informational purposes only and not investment advice.