Genus Power Infrastructures Ltd, in a release, said that its outstanding order book position was over Rs.30,000 crore, as of September 30, 2024.
The release said that the order book, standing at Rs.31776 crore (net of taxes) included that of the GIC platform and all SPVs of the company. The order book represents smart metering concessions with duration of 8-10 years.
Strong order book
Commenting on the company’s performance in Q2FY25, Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd, said, “Our strong order book provides us with a favorable position to achieve sustained growth in the upcoming quarters. We anticipate full-scale execution to accelerate from Q3FY25 onwards.”
“We are also actively targeting and receiving numerous inquiries from third-party Advanced Metering Infrastructure Service Providers (AMISPs) for smart meters. While we have also begun securing letters of intent from these providers, we do not publicly disclose them, as our company policy excludes LOIs from being recognized as part of the active order book.
The management is well-prepared to address potential challenges associated with the large-scale execution of projects, including cost management and financing requirements. We are also making strategic investments in workforce expansion and system enhancements to effectively support the execution of our significant order book. These investments are essential for sustaining our competitive advantage and ensuring the timely delivery of projects.
We are actively exploring new opportunities in the gas and water metering markets, both domestically and internationally. We believe these markets present significant growth potential in medium to long term, serving as a strategic complement to our core business in smart electricity meters,” Agarwal added.
Also read: Genus Power wins smart metering orders worth over Rs.3,500 crore