News

Published: August 21, 2024
Updated: August 21, 2024

Genus Power Stocks Soar to New Heights with ₹3608 Crore Order Win

Order Book Swells to ₹28,000 Crore

Genus Power Infrastructures' subsidiary has secured three Letter of Awards (LOA) worth ₹3608.52 crore, propelling the company's total order book to ₹28,000 crore. This significant win provides clear revenue visibility and reinforces the company's position in India's electricity metering solutions industry.

Second Major Order in Less Than a Week

This marks the second major order win for the company in less than a week, following the subsidiary's securing of orders worth ₹2925 crore for similar Advanced Metering Infrastructure Service Providers (AMISPs) roles.

Stock Price Hits 5% Upper Circuit

Genus Power stocks hit a 5% upper circuit limit, reaching a new all-time high of ₹428 apiece, driven by the company's robust order book and strong revenue growth prospects.

Company's Performance and Outlook

Genus Power Infrastructures delivered a strong performance in the June quarter, with revenue rising to ₹414.2 crore, a 59% increase compared to ₹261.1 crore in Q1 FY24. The company expects to maintain healthy margins moving forward, supported by efforts to optimize operational efficiencies and manage costs effectively.

Genus Power's latest order win and swelling order book underscore its dominance in the electricity metering solutions industry. With a strong revenue growth outlook and robust order book, the company is poised for continued success. Investors can consider this opportunity, but it's essential to maintain a long-term perspective and monitor market trends.