Rs 20,000 crore order book milestone achieved: Small-cap multibagger powerhouse, a major player in electricity metering, secures new Rs 1,026 crore order – don't miss the action!
With the addition of the recent order, our total order book has now surpassed the significant milestone of Rs. 20,000 crore (net of taxes)
The bulls on D-Street show no signs of slowing down, as the benchmark closed at a record high on Thursday, driven by dovish commentary from the Federal Reserve and indications of at least three rate cuts in 2024. A sharp decline in US bond yields further bolstered investor confidence.
Notably, the trend of order flow continues for Small-Cap companies, with Genus Power Infrastructures Ltd. being the latest recipient of a significant order. Established in 1995, Genus Power Infrastructures Ltd. is a major player in India's electricity metering solutions industry, boasting a substantial 27 per cent market share. The company is a market leader in various meter types and has pioneered 'smart metering solutions' through its in-house Research and Development (R&D) center. Additionally, Genus Power Infrastructures Ltd. houses an Engineering, Construction, and Contracts (ECC) division, complementing its existing meter business. The company operates manufacturing plants in Jaipur, Haridwar, and Guwahati, with a total installed capacity exceeding 10 million meters. Noteworthy clientele includes major State Electricity Boards (SEBs) and private utilities.
Genus Power Infrastructures Limited's wholly-owned subsidiary has secured a Letter of Award (LOA) valued at Rs. 1,026.31 crore (net of taxes) for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs). The scope includes designing the Advanced Metering Infrastructure (AMI) system, along with the supply, installation, and commissioning of approximately one million Smart Prepaid Meters, system meters, including DT Meters, with corresponding energy accounting on a DBFOOT basis.
Joint Managing Director, Mr. Jitendra Kumar Agarwal, commented, "In a relatively short span since July 2023, our company has secured a total of seven orders, amounting to about Rs. 16,185 crore (net of taxes). This consistent success reflects the trust our clients place in our capabilities and the superior quality of our offerings. With the addition of the recent order, our total order book has now surpassed the significant milestone of Rs. 20,000 crore (net of taxes). As we celebrate this achievement, we remain committed to maintaining the highest standards of quality, innovation, and customer satisfaction."
The stock has delivered multi-bagger returns in the last year, posting a remarkable 143.83 per cent increase. With this latest announcement, it should undoubtedly be on your radar for Friday.
Disclaimer: The article is for informational purposes only and not investment advice.