The said LoA is received for the appointment of advanced metering infrastructure service providers (AMISPs) including design of advance metering infrastructure (AMI) system with supply, installation and commissioning with FMS of about a million smart prepaid meters, system meters including DT meters with corresponding energy accounting on design build finance own operate transfer (DBFOOT) basis.

Jitendra Kumar Agarwal, joint managing director, Genus Power Infrastructures, said, “Since July 2023, our company has secured a total of seven orders, amounting to about Rs 16,185 crore (net of taxes). With the addition of the recent order, our total order book has now surpassed the significant milestone of Rs 20,000 crore (net of taxes).”

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 a consolidated net profit of Rs 49.19 crore in Q2 FY24, steeply higher than Rs 6.53 crore in Q2 FY23. Net sales grew by 18.4% year on year to Rs 258.96 crore during the quarter.