Many State Electricity Boards (SEBs) have issued requests and solicited bids for the installation of smart meters, indicating that the 'Reforms-Based, Result-Linked Power Distribution Sector Scheme' is having a tangible effect, the company stated in exchange filing. The firm anticipates robust order inflow in the coming quarters of FY24.

Jitendra Kumar Agarwal, joint managing director, Genus Power Infrastructures said, “It also signals a strong start to order inflow for our industry. We anticipate a sharp revenue rebound in coming quarters on account of robust orderbook and healthy order inflow, and restoration of normalcy in the supply chain.

Further he added, "With the implementation of the revamped distribution sector scheme (RDSS), we anticipate that the entire landscape of the Indian metering industry will undergo a radical transformation, resulting in a projected multifold increase in annual industry size. This will also result in a transition from conventional to smart meters in the Indian metering industry, allowing for better operating margins."

Genus Power Infrastructures is engaged in the business of manufacturing and providing metering and metering solutions and undertaking engineering, construction and contracts on turnkey basis (core business division). The company has also been engaged in making strategic investment activity, where under investments are made in shares and securities basis a thorough and systematic evaluation by the company and the management.

The company reported consolidated net profit of Rs 6.53 crore as on 31 December 2022 as compared to net loss of Rs 2.49 crore as on 31 December 2021. Net sales rose 23% year on year to Rs 218.63 crore in Q3 FY23.