The contract involves design of AMI system with supply, installation and commissioning of 21.77 lakh smart prepaid meters, on DBFOOT (design, build, finance, own, operate, transfer) basis under Revamped Distribution Sector Scheme (RDSS).

"Post this order inflow, our total order book stands at in excess of Rs 8,200 crore,” Genus Power said in a statement.

The company further added that many State Electricity Boards (SEBs) have initiated the process of inviting bids for the deployment of smart meters, which serves as a testament to the positive impact of the 'Reforms-Based, Result-Linked Power Distribution Sector Scheme'. The company anticipates a robust surge in order volumes during the forthcoming quarters of fiscal year 2024.

Jitendra Kumar Agarwal, joint managing director, Genus Power Infrastructures, said, “We are pleased to inform that our company has secured a substantial order valued at Rs. 2,210 crore.

This is the second major order that we have won, after securing an order of Rs. 2,208 crore in last month. This achievement represents a substantial milestone for our organisation, and we possess a strong conviction that it will serve as a catalyst for exponential business expansion within the Indian market.

The implementation of the Revamped Distribution Sector Scheme (RDSS) is expected to have a radical impact on the Indian metering industry. The scheme will lead to a multifold increase in the annual size of the industry, as well as a transition from conventional to smart meters. This will allow for better operating margins for metering companies.”

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