Genus Power Refutes Project Termination and Blacklisting Claims, Affirms Strong Domestic Order Book
Genus Power Infrastructures Limited has denied rumors about the termination of its Rajasthan projects and alleged blacklisting in Goa. The company confirmed its Rajasthan projects are progressing well, with the Ministry of Power extending the RDSS scheme deadline. Regarding Goa, Genus Power clarified it was never officially blacklisted, and a court order quashed an internal memo barring their participation in a tender. The company emphasized its strong domestic focus, large order book, and progress in smart metering initiatives across several Indian states, covering nearly 20 million meters.

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Genus Power Infrastructures Limited , a leading player in the smart metering solutions sector, has strongly refuted recent market speculations regarding the termination of its Rajasthan projects and alleged blacklisting in Goa. The company has issued a detailed press release to address these rumors and provide clarity on its current operations.
Rajasthan Projects: On Track and Progressing
Contrary to circulating rumors, Genus Power has categorically denied any termination of contracts or imposition of liquidated damages in its Rajasthan projects. The company stated that these projects are "under execution in full swing." Acknowledging the industry-wide delays in smart metering projects across India, Genus Power highlighted that the Ministry of Power has extended the sunset date of the Revamped Distribution Sector Scheme (RDSS) by two years, from March 31, 2026, to March 31, 2028.
The company expressed confidence in its ability to deliver market-leading smart metering solutions to Rajasthan and appreciated the continued trust and support from the Rajasthan government and DISCOM officials.
Goa Blacklisting: Legal Victory and Clarification
Addressing the rumors of blacklisting in Goa, Genus Power clarified that it was never technically blacklisted by the Goa Electricity Department (GED). The company explained that an internal memo from GED, which had initially barred Genus Power and HPL Electric & Power Ltd from participating in a tender, was promptly challenged in the Goa High Court. The court quashed the memo in the first hearing on September 24, 2024, leading to its withdrawal from the GED website on October 3, 2024.
Strong Domestic Focus and Order Book
In response to concerns about potential impacts from U.S. tariffs, Genus Power emphasized its "Made in India" product line. The company stated that it currently has no order book with the USA and maintains a "very large domestic order book." Furthermore, Genus Power assured stakeholders that its supply chains for imported components are well-diversified, mitigating any material impact from U.S. tariffs on its business operations.
Progress in Smart Metering Initiatives
Despite acknowledging slower-than-expected operational go-live timelines for projects across the country, Genus Power reported significant progress in several states. The company has achieved Operational Go-Live Certificates from utilities in Assam, Maharashtra, Bihar, Chhattisgarh, and Uttar Pradesh. These projects collectively cover close to 2 crore (20 million) meters, underscoring the company's substantial footprint in India's smart metering landscape.
Genus Power's clarification comes at a crucial time, reaffirming its position in the smart metering market and its commitment to delivering high-quality solutions across India. As the nation continues its push towards modernizing its power infrastructure, companies like Genus Power play a pivotal role in realizing the vision of a more efficient and technologically advanced power distribution system.
Historical Stock Returns for Genus Power Infrastructures
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
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-5.96% | -8.70% | -7.76% | +28.20% | -29.68% | +1,226.11% |