The installation base of energy meters of Genus Power Infrastructures Ltd touched 65 million as of March 31, 2021, a company’s investor presentation said.
The growth in the energy meters base (both conventional and smart metes) has been particularly sharp over the past decade, growing from 10 million as of end-2010, to 50 million as of end-2018 to 65 million as of March 31, 2021.
Genus is the biggest player in India’s electricity meter industry. The company has an estimated market share of 27 per cent in the conventional meter segment while its share in the smart meter segment is much higher at around 70 per cent.
Genus is empanelled with over 40 different power utilities across the country. Its annual manufacturing capacity of energy meters is around 10 million units.
Genus Power, in the presentation, has estimated that India can save Rs.9.5 trillion by investing Rs.1.25 trillion by replacing the existing 25 crore conventional (legacy) meters by smart meters. The government has targeted to install 130 smart energy meters in India, by end of 2021. Genus expects significant business opportunities from this initiative.
ECC Division
Genus Power also has an ECC (Engineering Construction & Contracts) division that offers turnkey solutions in MV, HV and EHV substations and transmission lines. The ECC division is capable of executing turnkey jobs up to 420kV.
Currently, the ECC division is implementing an important project for NTPC in Jharkhand. The contract involves design, engineering and supply of equipment for substation, transmission line and associated systems for construction of 220kV substation at Chhatti Bariatu, 33kV substation at Kerandari, 33kV double-circuit line from Chhatti Bariatu to Kerandari, 220kV double-circuit line from Pakri Barwadih to Chhatti Bariatu, and from Patratu to Pakri Barwadih.
The ECC division is also implementing a feeder separation schema, along with rural electrification works under DDUGJY at Bijnor and J.P. Nagar, in Uttar Pradesh.
Order inflow
Genus Power Infrastructures reported an order inflow of Rs.931 crore in FY21 (April to March), slightly lower than Rs.943 crore in FY20. In FY19, the company recorded its highest annual order inflow in recent history, standing at Rs.1,498 crore.
Featured photograph shows the NABL-accredited R&D lab for electronic energy meters of Genus Power Infrastructures Ltd, situated at Jaipur in Rajasthan.