Genus Power Infrastructures, in a stock exchange communication, announced that it has won an order worth nearly Rs.2,856 crore under the Revamped Distribution Sector Scheme (RDSS).
The communication said that Genus Power Infrastructures Ltd, together with its wholly-owned subsidiary Hi-Print Metering Solutions Pvt Ltd, have received letters of award of Rs.2,855.96 crore.
The two companies have accordingly been appointed as Advanced Metering Infrastructure Service Provider (AMISP) to works relating to design of AMI system with supply, installation and commissioning of 29.49 lakh smart prepaid meters, DT metering, HT and Feeder Metering Level energy accounting and FMS (facility management service) of these 29.49 lakh smart meters.
RDSS to change metering landscape
Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd. said, “These order wins give lot of visibility to our revenues for coming years. 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 order book and healthy order inflow, and restoration of normalcy in the supply chain.
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.”
Also read: RDSS Can Radically Transformer Metering Industry: Genus Power
Robust order inflow
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 anticipates robust order inflow in the coming quarters of FY24, the communication said.
Featured photograph shows the energy metering R&D lab of Genus Power Infrastructures.