The company anticipates a sustained and significant increase in order volumes throughout the upcoming quarters of fiscal year 2024.

Jitendra Kumar Agarwal, joint managing director, Genus Power Infrastructures, said, “These orders reinforce our dominant market standing as the foremost provider of intelligent metering solutions in the Indian market.

The burgeoning demand for smart meters is being driven by the government's initiatives to improve the efficiency of the power sector. These initiatives include the Revamped Distribution Sector Scheme (RDSS), which aims to install 250 million smart meters in all households across the country.

Our total order book now stands at over Rs 14,000 crore (net of taxes) – which gives visibility into robust future revenue growth. We have a strong track record of delivering metering projects on time and within budget. We also have a wide network of partners and suppliers, which allows us to provide end-to-end solutions to our customers. We would like to thank our customers for their trust and support, and we look forward to working with them to successfully deliver these projects.”

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.

The company reported 93% surge in consolidated net profit to Rs 23.05 crore on 39.6% increase in net sales to Rs 261.11 crore in Q1 FY24 over Q1 FY23.