Genus Power Infrastructures Ltd has issued a clarification on stock exchanges, denying market rumours of the company’s termination of smart metering contracts in Rajasthan, and its blacklisting by Goa Electricity Department.
Rajasthan
With respect to termination of RDSS-backed smart metering contracts in Rajasthan, Genus Power clarified that no liquidated damages have been levied on the company and that all projects were under execution in full swing.
Genus said that delays in completion of smart metering contracts was not specific to the company but a universal phenomenon. “Most of the projects in the country are facing customary delays,” the statement said.
The Rajasthan-based company also pointed out that acknowledging the delays being faced by smart metering projects in the country, the Union power ministry, in its communication dated July 16, 2025, extended the sunset date of RDSS by two years – from March 31, 2026 to March 31, 2028.
“We are confident of providing market leading Smart Metering solutions to serve the people of Rajasthan and are grateful to the Government of Rajasthan and all the officials of Rajasthan DISCOMs for the continuing trust, guidance and support that have been extended to us in implementation of the projects,” the statement observed.
Goa
In the context of Goa Electricity Department (GED), Genus Power maintained that company was never blacklisted technically by GED. The internal memo of GED, by which the company and another entity HPL Electric & Power Ltd was barred from participating in the tender floated by GED, was immediately challenged in the Honorable High Court of Goa as soon as it came to notice of the company. The said internal memo of GED was quashed by the Honorable High Court in the first hearing itself, on September 24, 2024, and the internal memo of GED was withdrawn from GED’s website on October 3, 2024.
No impact of US tariffs
Genus clarified that the company had no order book, as of date, with USA. The company added that its supply chains for imported smart meter components are well diversified and it did not anticipate any material business impact of the tariff levied by USA.
Performance in Q1FY26
As reported by T&D India on August 12, 2025, Genus Power Infrastructures Ltd installed 16 lakh smart meters in Q1FY26 and had a cumulative installed base of 45 lakh meters, as of June 30, 2025. (Read full story)
Also read: Genus Power installs 16 lakh smart meters in Q1FY26
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