Rs 11,000 crore order book: This multibagger small-cap company incorporates SPV for its smart meters order worth Rs 2,247.37 crore; hits upper circuit & 52-week highs!

The stock gave multibagger returns, with a 190 per cent increase in just 3 months, a 230 per cent increase in 1 year, a more than 1,000 per cent increase in 3 years.

Genus Power Infrastructures Limited informed that the company has incorporated a step-down subsidiary, namely “Maharashtra Akola Amravati Smart Metering Private Limited” It is incorporated as SPV for execution of an advanced metering infrastructure service provider (AMISP) contract.

Genus Power Infrastructures Limited’s step-down wholly-owned subsidiary has received a letter of award (LOA) of Rs 2,247.37 crore (net of taxes) for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including the design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of 24.18 Lakh smart prepaid meters, system meters including OT Meters with corresponding energy accounting under DBFOOT model.

Mr Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd. said, “We are delighted to announce the win of yet another major order for smart meters. This is the third such order in the last two months, and it is a testament to the trust that our customers have in our capabilities.

Our total order book now stands at around Rs 11,000 crore (net of taxes) – which signifies a landmark for our organization, instilling us with a resolute belief that it will act as a driving force for exponential growth in our business operations within the Indian market. It further strengthens our position as the leading smart metering solutions provider in India.

The demand for smart meters is growing rapidly in India, as the government under the Revamped Distribution Sector Scheme (RDSS) scheme aims to install 250 million smart meters in all households across the country to improve the efficiency of the power sector. We are well-positioned to capitalize on this immense growth opportunity. We have a strong track record of delivering metering projects on time and within budget. We also have a wide network of partners and suppliers, which allows us to provide end-to-end solutions to our customers. We look forward to playing a leading role in the transformation of the Indian power sector.”

On Monday, shares of Genus Power Infrastructure Ltd were locked in a 5 per cent upper circuit to Rs 285.15 per share from its previous closing of Rs 271.60 per share. The shares also traded at a new 52-week high of Rs 285.15 per share with a spurt in volume by more than 3.26 times on BSE.

The company has a market cap of Rs 7,000 crore. Furthermore, the company have approved a dividend of 75 per cent or Rs 0.75 per share of a face value of Rs 1 each for the financial year March 31, 2023. The company fixed the record date as September 21, 2023.

The stock gave multibagger returns, with a 190 per cent increase in just 3 months, a 230 per cent increase in 1 year, a more than 1,000 per cent increase in 3 years, and a whopping 2,800 per cent increase in a decade. Investors should keep an eye on this Small-Cap stock.

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