Breaking records: This multibagger electrical equipment company bags new orders worth Rs 2,207.53 crore; hits fresh 52-week high!

Shares of the company grew by more than 90 per cent in the last six months.

Genus Power Infrastructures Limited informed in the exchange filing that it had secured new orders of Rs 2,207.53 crores for the appointment of an advanced metering infrastructure service provider including the design of AMI system with supply, installation, and commissioning of 27.69 Lakhs smart prepaid meters, feeder meter, DT meter level energy accounting and FMS of these 27.69 Lakhs smart meters. The revenue from the projects is expected to start flowing in the fourth quarter of FY24, with a total top line of about Rs 1,200 to Rs 1,400 crores in this fiscal year.

Recently, GIC Affiliate and Genus Power Infrastructures Limited signed a definitive agreement to set up a platform to fund smart metering projects worth USD 2 billion initial pipeline. Investment by Chiswick Investment Pte Ltd, an affiliate of GIC, of up to Rs 519 crore by way of a preferential allotment of warrants which shall constitute (if and when GIC elects to exercise such warrants) 15% (fifteen percent) of the issued and paid-up share capital of Genus on a fully diluted/as converted basis.

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

The stock has gained more than 600 per cent in the last three years. The company has an order book of more than Rs 6,000 crore and investors should keep a close eye on this stock.