Genus Power Infrastructures Limited has announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, alongside detailed management guidance shared during its earnings concall. The company delivered a robust operational performance, with standalone net profit for FY26 rising 106.5% year-on-year to INR 605.0 crore, compared to INR 293.0 crore in the previous year. Standalone revenue from operations for the year surged to INR 4,737.5 crore from INR 2,442.0 crore in FY25, reflecting a 94% growth driven by accelerated execution in the smart metering business. The company's order book stands at INR 25,173 crore as of March 31, 2026, providing strong revenue visibility.
FY26 Standalone Financial Performance
The company reported significant growth across key financial metrics for the full year on a standalone basis. The table below summarizes the annual performance:
| Financial Metric (INR Cr): |
FY25 |
FY26 |
% Change |
| Revenue: |
2,442 |
4,737.50 |
+94% |
| EBITDA: |
469.90 |
960.20 |
+104% |
| Profit Before Tax: |
399 |
814 |
+104% |
| Net Profit: |
293 |
605 |
+106% |
EBITDA margin improved by 102 basis points year-on-year to 20.3%, while net profit margin expanded to 12.8%. The company attributed the performance to healthy order book conversion, operating leverage benefits, and disciplined cost management.
Q4 FY26 Performance Highlights
For the quarter ended March 31, 2026, standalone revenue stood at INR 1,523.7 crore, registering a 62.7% increase from INR 936.8 crore in Q4 FY25. On a sequential basis, revenue grew by 35.8%. Profit after tax for the quarter rose 41% year-on-year to INR 180.7 crore. EBITDA for the quarter increased 36.2% to INR 284.0 crore, with a margin of 18.6%. The management noted that moderation in gross margins was primarily due to a change in product mix and adverse exchange rate fluctuations on imported raw materials.
FY27 Revenue and Margin Guidance
During the concall, management provided detailed guidance for FY27, targeting revenue between INR 6,000 crore and INR 6,500 crore, driven by increased rollout intensity and conversion of the existing order book. The EBITDA margin guidance for FY27 is set at 18%, reflecting a reduction of 2% to 2.5% from FY26 levels, attributed to anticipated increases in raw material prices stemming from geopolitical tensions, petroleum costs, and chip supply pressures. The company also aims to install more than 1 crore meters in FY27 and targets INR 500 crore in export revenue within the next two to three years, with meaningful numbers expected by the end of FY27.
| FY27 Guidance Parameter: |
Details |
| Revenue Target: |
INR 6,000–6,500 crore |
| EBITDA Margin: |
18% |
| Meter Installation Target: |
More than 1 crore meters |
| Export Revenue Target (2–3 years): |
INR 500 crore |
| O&M Revenue (2–3 years): |
INR 800–900 crore per annum |
Cash Flow, Debt, and Capital Expenditure Outlook
On the financial health front, management guided that cash flow from operations is expected to be at par or slightly negative by the end of FY27, with positive cash flow projected for the first or second quarter of FY28. Net debt is expected to peak at approximately INR 1,900 crore to INR 2,000 crore, up from INR 1,573 crore as of March 2026, with reductions anticipated from FY28 onwards. No major capital expenditure is planned for FY27, with only regular CapEx of INR 10 crore to INR 20 crore earmarked for items such as dies and molds. Working capital days are expected to improve by another 50 to 75 days in the current year, following a reduction from 343 days in March 2025 to 274 days in March 2026.
| Cash Flow & Debt Parameter: |
Details |
| Net Debt (March 2026): |
INR 1,573 crore |
| Net Debt Peak (Expected): |
INR 1,900–2,000 crore |
| Cash Flow Breakeven: |
End of FY27 (at par or slightly negative) |
| Positive Cash Flow: |
Q1 or Q2 FY28 |
| Regular CapEx (FY27): |
INR 10–20 crore |
| Working Capital Days (March 2025): |
343 days |
| Working Capital Days (March 2026): |
274 days |
Strategic Updates
The Board of Directors, in its meeting on May 16, 2026, approved the audited financial results and appointed Mr. Vinod Raheja as the Chief Financial Officer effective May 18, 2026. The company plans to invest another INR 600 crore to INR 700 crore in the joint venture platform with GIC over the next two years covering FY27, FY28, and Q1 FY29. O&M revenue from the current order book is projected to reach INR 800 crore to INR 900 crore per annum in the next two to three years, up from INR 150 crore in FY26. Additionally, the press release highlighted the completion of the demerger of the Strategic Investment Business into Genus Prime Infra Limited, following the NCLT order dated April 24, 2025. Eligible shareholders were entitled to receive one equity share of Genus Prime Infra Limited for every six shares held in Genus Power Infrastructures Limited.