Genus Power Infrastructures Ltd. and its 100 percent subsidiary company Hi-Print Metering Solutions Private Limited have received the letter of award (LOA) of Rs 2,855.96 crore for the appointment of Advanced Metering Infrastructure Service Provider (AMISP).
It includes the design of the AMI system with supply, installation, and commissioning of 29.49 Lakh Smart Prepaid Meters, DT Metering, HT & Feeder Metering Level energy accounting, and FMS of these 29.49 Lakh smart meters.
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Genus Power Bagged Orders Worth Over Rs 2,850 Crore – Key Points
- The company informed that 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 expects strong revenue growth in the coming quarters due to robust order inflow and a normalization of the supply chain.
- Jitendra Kumar Agarwal, joint managing director, of Genus Power Infrastructures Ltd, informed that these order wins give a lot of visibility to the revenues for coming years.
- It also signals a solid start to order inflow for the industry. They anticipate a sharp revenue rebound in the coming quarters because of the full order book, healthy order inflow, and restoration of normalcy in the supply chain.
- The implementation of the Revamped Distribution Sector Scheme (RDSS), the company anticipates that the entire landscape of the Indian metering industry will undergo a radical transformation, resulting in a projected multifold increase in annual industry size.