Genus Power Infrastructures secures massive Rs 4,469cr deal, solidifying market dominance

Genus Power Infrastructures Limited, a leading player in India‘s electricity metering sector, has announced a significant achievement with its wholly owned subsidiary winning three major orders valued at ₹4,469.04 crore (net of taxes). These orders involve the appointment of Advanced Metering Infrastructure Service Providers (AMISPs), encompassing the design, supply, installation, commissioning, and ongoing management of approximately 5.59 million smart prepaid meters, including distribution transformer meters, on a Design, Build, Finance, Operate, and Transfer (DBFOOT) basis.

Major Orders Boost Genus Power’s Market Position

Mr. Jitendra Kumar Agarwal, Joint Managing Director of Genus Power Infrastructures Limited, expressed enthusiasm about the company’s recent success, highlighting its continuing growth trajectory. He noted that this latest set of orders adds to the company’s impressive haul, which includes recent contracts worth ₹2,925.52 crore and ₹3,608.52 crore secured in mid-August. With these additions, Genus Power’s total order book now stands at approximately ₹32,500 crore (net of taxes).

Agarwal emphasized that these new contracts, which span 8 to 10 years, not only underscore the robust confidence clients have in Genus Power’s capabilities but also solidify the company’s leadership position in the smart metering industry. The comprehensive nature of these orders—covering all aspects of AMI services—reflects the superior quality of Genus Power’s offerings and its commitment to enhancing operational efficiencies.

Expansion and Future Prospects

Founded in 1995, Genus Power Infrastructures has become one of the largest players in India’s electricity metering solutions market, boasting a market share of approximately 27%. The company’s success is supported by its state-of-the-art research and development center and its significant manufacturing capabilities, with plants located in Jaipur, Haridwar, and Guwahati, and an installed capacity exceeding 10 million meters.

Genus Power Infrastructures’ key clientele includes major state electricity boards (SEBs) and private utilities, reflecting its strong presence and expertise in the sector. As the company continues to expand its workforce and invest in system upgrades, it aims to maintain its competitive edge and drive the digital transformation of India’s energy infrastructure.

In closing, Agarwal reaffirmed Genus Power’s dedication to delivering value to both clients and shareholders, leveraging its expertise to meet the evolving demands of the energy sector.