The AMISP includes the design of advance metering infrastructure (AMI) system with supply, installation, and commissioning with FMS of about 55.9 lakh smart prepaid meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis.
This means that Genus Power will Design, Build, Finance, Own, Operate, and Transfer (DBFOOT) the project as per the deadlines that will be decided.
“We are pleased to announce that Genus Power Infrastructures Limited continues its remarkable growth trajectory with the successful securing of significant orders, further solidifying our leadership position in the smart metering sector. Over the past few weeks, we have won three major orders, cumulatively valued at Rs. 11,003.08 crore (net of taxes). This includes orders worth Rs. 2,925.52 crore (net of taxes) & Rs. 3,608.52 crore (net of taxes) won in the third week of August and an additional Rs. 4,469.04 crore (net of taxes) secured now. These achievements bring our total order book to about Rs. 32,500 crore (net of taxes). These concessions are for 8 to 10 years, providing clear visibility into the Company’s robust future growth,” said Jitendra Kumar Agarwal, Joint Managing Director of Genus Power Infrastructures while commenting on the order wins.
Earlier in the last week too, the company had reported that it won orders worth Rs 3,608.52 crore for the appointment of AMISPs.Also read: PFC, REC shares up 3% after UBS initiates coverage on the 2 PSU stocksGenus Power Infrastructures is amongst the largest players in India’s electricity metering solutions industry with a 27% 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.The shares of Genus Power have increased by 80% in the last one year, while they have doubled in the current year so far. In the last 6 months, the stock has gone up by 87%.
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