Genus Power Infrastructures Ltd has installed 16 lakh smart meters in its capacity of AMISP, during Q1 (April to June) of FY26.
Addressing an investor call, Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd, said that the company installed around 16 lakh smart meters as part of its AMISP activities during Q1FY26. With this, the total number of smart meters installed as of June 30, 2025 (end of Q1FY26) stood at around 45 lakh.
Genus Power, as of June 30, 2025, had an overall outstanding order book of Rs.29,321 crore that included AMISP orders under its various subsidiaries and its investment platform with GIC.
The value of AMISP-related orders stood at around Rs.27,500 crore, with the remaining Rs.1,700 crore (approximate) representing third-party mandates – orders for meters placed by other AMISPs and utilities.
In quantity terms, Genus has an AMISP-related order book of 3.5 crore smart meters, out of which around 45 lakh have already been installed. In this installed base, around 21 lakh meters have crossed the “go-live” status in that Genus has received first installment of payment from the power utilities concerned.
Agarwal noted that around 80 per cent of the AMISP-related revenues will accrue directly to the company over the project lifecycle.
Speaking of meter installation targets, Agarwal said that during the ongoing FY26, Genus has targeted to install 80-90 lakh meters, inclusive of the 16 lakh smart meters installed in Q1FY26. For FY27, the target is higher at 1.1 to 1.2 crore smart meters.
Upcoming opportunities
J.K. Agarwal estimated that by FY31, the total order pipeline for smart meters would be the in the range of 30-31 crore units. Of this, around 3 crore meters have been installed and another 14 crore meters have been ordered. This leaves around 13-14 crore meters for which orders have yet to be placed, providing a strong bidding pipeline for Genus. The company intends to maintain its current market share of 25 per cent to 30 per cent in the smart metering domain.
Genus Power expects that the mega 3-crore smart meter tender in Tamil Nadu to be finalized in the next 3-4 months. The previous tender was rescinded and it came up for re-bidding. Incidentally, Genus has bid for all the six packages of this tender.
J.K. Agarwal also mentioned that the smart metering tenders in Delhi and the UT of Puducherry, together worth around 55 lakh smart meters, would be finalized during August 2025.
Incidentally, Genus Power has an annual manufacturing capacity of over 16 million meters, spread over its plants located at Jaipur (Rajasthan), Haridwar (Uttarakhand) and Guwahati (Assam).
Also read: Genus Power: Order book crosses Rs.30,000 crore
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