Genus Power Infrastructures Limited, a leading company in the power infrastructure sector, has been awarded a significant contract worth Rs 22.07 billion. The contract entails the appointment of Genus Power Infrastructures as the Advanced Metering Infrastructure Service Provider (AMISP), responsible for the design, supply, installation, and commissioning of 2.77 million smart prepaid meters. The scope of work also includes the provision of feeder meter, DT meter level energy accounting, and facility management services (FMS) for these smart meters.

The growing demand for smart meter installations, as indicated by numerous state electricity boards (SEBs) issuing requests for bids, highlights the effectiveness of the "Reforms-Based, Result-Linked Power Distribution Sector Scheme." This achievement positions Genus Power Infrastructures favourably, expecting a surge in orders throughout the upcoming quarters of FY24.

Expressing his satisfaction, Jitendra Kumar Agarwal, the Joint Managing Director of Genus Power Infrastructures Ltd., commented, "We are thrilled to announce the successful acquisition of a significant order valued at Rs 22.07 billion. This accomplishment not only showcases our company's commitment to providing innovative and reliable solutions but also exemplifies the trust our customers place in our ability to deliver high-quality products and services."

The order win significantly enhances revenue visibility for the company in the coming years and signifies a robust start to order inflow in FY24. With a strong order book and healthy order inflow, coupled with the restoration of normalcy in the supply chain, Genus Power Infrastructures anticipates a sharp rebound in revenue growth in the coming quarters.

The implementation of the revamped distribution sector scheme (RDSS) is expected to revolutionise the Indian metering industry. This scheme will lead to a substantial increase in the industry's annual size and a transition from conventional to smart meters. As a result, metering companies such as Genus Power Infrastructures will experience improved operating margins.