Genus Power Infrastructures , a leading player in India's smart metering sector, has reported a stellar performance for the first quarter, with significant growth in revenue and profitability. The company also reaffirmed its ambitious targets for the coming years, positioning itself at the forefront of India's smart metering revolution.

Strong Q1 Performance

Genus Power reported a robust 128% year-on-year growth in revenue, reaching Rs 942.00 crores for the quarter ended June 30. This substantial increase was driven by accelerated project execution and a significant ramp-up in smart meter installations.

The company's profitability also saw impressive gains:

• EBITDA surged to Rs 199.00 crores, with a margin of 21.20%, up 590 basis points year-on-year.
• Profit After Tax (PAT) from continuing operations more than tripled to Rs 128.00 crores, translating to a PAT margin of 13.60%.

Smart Meter Installation Progress

During the quarter, Genus Power installed 16 lakh smart meters, bringing its cumulative installations to 45 lakh meters. This rapid pace of installation underscores the company's execution capabilities and the growing demand for smart metering solutions in India.

Robust Order Book and Future Outlook

Genus Power maintains a substantial order book of Rs 29,321.00 crores (net of taxes), providing revenue visibility for the next 8-10 years. Approximately 80% of the AMISP (Advanced Metering Infrastructure Service Provider) revenue from this order book is expected to accrue directly to Genus Power over the project lifecycles.

The company has reaffirmed its guidance for FY26:

• Revenue target exceeding Rs 4,000.00 crores
• EBITDA margin of 18.00%

Looking ahead, Genus Power has set ambitious installation targets:

• FY26: 80-90 lakh smart meters
• FY27: 1.1-1.2 crore smart meters

Industry Landscape and Opportunities

India is targeting the installation of 30-31 crore smart meters by FY32, with only about 3 crores installed to date and around 14 crores ordered. This leaves a substantial pipeline of opportunities for companies like Genus Power.

Jitendra Agarwal, Joint Managing Director of Genus Power, commented on the industry outlook: "The industry backdrop remains highly favorable. We believe that the pace of installations will continue to accelerate, with some states already witnessing transformative benefits, such as improved financial health of the Electricity Board after large-scale smart meter deployment."

Challenges and Strategies

While the company faces challenges from elevated working capital requirements and higher finance costs during the project ramp-up phase, management expects these issues to ease as more projects achieve operational go-live (OGL) status.

Expansion into New Markets

Genus Power is not resting on its laurels in the smart electricity meter segment. The company is actively expanding into water meters, gas meter solutions, and international markets including Australia, New Zealand, the Middle East, Southeast Asia, and Africa.

As India's smart metering revolution gains momentum, Genus Power Infrastructures appears well-positioned to capitalize on the growing opportunities, backed by its strong order book, execution capabilities, and strategic expansion plans.

Genus Power Infrastructures , a leading player in the power infrastructure sector, has reported exceptional financial results for the first quarter, showcasing robust growth across key metrics.

Profit Soars to New Heights

The company's net profit for the quarter skyrocketed to ₹1.28 billion, marking a remarkable 202% increase from ₹424 million in the corresponding period last year. This substantial growth in profitability underscores the company's operational efficiency and strong market position.

Revenue More Than Doubles

Genus Power Infrastructures demonstrated impressive top-line growth, with revenue more than doubling to ₹9.42 billion, up from ₹4.14 billion in the same quarter of the previous year. This 127% year-over-year increase reflects the company's expanding market presence and growing demand for its products and services.

EBITDA and Margin Improvement

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a significant boost, rising to ₹1.99 billion from ₹632 million in the comparable period. This represents a substantial 215% increase, highlighting the company's improved operational performance.

Moreover, Genus Power Infrastructures achieved notable margin expansion, with the EBITDA margin climbing to 21.17% from 15.27% in the same quarter last year. This 5.9 percentage point improvement in margin indicates enhanced cost management and operational efficiency.

Financial Performance at a Glance

The strong financial performance across all key metrics demonstrates Genus Power Infrastructures' ability to capitalize on market opportunities and drive growth in the power infrastructure sector. The company's substantial improvements in revenue, profitability, and operational efficiency position it well for continued success in the coming quarters.