Genus Power Infrastructures Limited, incorporated in 1992, is a part of the Kailash Group and is engaged in manufacturing and providing Metering and Metering Solutions and undertaking 'Engineering, Construction, and Contracts' on a turnkey basis. The company has established itself as a significant player in India's smart metering industry, offering comprehensive solutions to the power sector through two primary business segments: metering business and strategic investment activities.
The company is an ISO 9001 & 14001 certified organization that provides innovative solutions to the power sector through two divisions - Metering Solutions providing a range of Electricity Meters and Engineering Construction offering turnkey power projects like Sub-Station erection and Rural Electrification. The company was incorporated in 1992 and is based in Jaipur, India.
The company offers High-End Multifunction Single Phase and Three Phase Meters, CT Operated Meters & HES (Head End System), ABT & Grid Meters, Distribution Transformer (DT Meters), Pre-payment Meters, Group Metering, Smart Street Light Management Solution, Gas Meters, and provides domain-related software and SaaS to utilities through facility management services (FMS).
The company provides a comprehensive range of electricity meters including multi-functional single-phase and three-phase meters, CT operated meters, availability-based tariff (ABT) meters, grid meters, distribution transformer (DT) meters, prepayment meters, smart meters, and also manufactures smart gas and smart water meters, aiming to become a leading provider in these segments.
The company undertakes turnkey power projects, including sub-station erection, transmission and distribution lines, rural electrification, switchyard, and network refurbishment. Additionally, the company provides hybrid microcircuits used in telecommunication, automotive, consumer, industrial, IT products/computers, R-networks, power electronics, and serves utilities/DISCOMs, municipalities, advanced metering infrastructure service providers, renewable energy projects, housing communities, malls, telecom towers, smart city projects, as well as residential, commercial, and industrial consumers.
Net profit of Genus Power Infrastructures rose 312.30% to ₹129.34 Crore in the quarter ended March 2025, as against ₹31.37 Crore during the previous quarter ended March 2024, while sales rose 122.98% to ₹936.77 Crore in the quarter ended March 2025, as against ₹420.12 Crore during the previous quarter.
Profit before tax (PBT) stood at ₹174 Crore in Q4 FY25, up 293% year-on-year, and up 82% quarter-on-quarter. EBITDA jumped 276% YoY to ₹208 Crore in Q4 FY25, with EBITDA margin improving 905 basis points y-o-y to 22.3% in Q4 FY25.
For the full year FY25, revenue from operations rose 103% to ₹2,442 Crore, while net profit rose 297% to ₹298 Crore. EBITDA jumped 247% YoY to ₹470 Crore while PBT rose 289% to ₹399 Crore compared to FY24, with EBITDA margin improving by 797 basis points y-o-y to 19.2% in FY25.
- Revenue (FY25): ₹2,442 Crore
- Net Profit (FY25): ₹298 Crore
- TTM Profit: ₹311 Crore
- Return on Equity (past 3 years): 10.2%
- P/E Ratio: 35.93
Total order book, as on March 31, 2025, stood at about ₹30,110 Crore, providing strong revenue visibility for the company. The company has demonstrated remarkable financial performance, achieving record revenue and profitability driven by the successful rollout of smart metering projects, particularly under the RDSS scheme. Despite this growth, challenges persist, notably with increased debtors and working capital management, which management is actively addressing to enhance cash flow efficiency.
The market capitalization of Genus Power Infrastructures Ltd is ₹11,189.11 Crore as of July 2, 2025. Promoter Holding stands at 39.4%, while promoter holding has gone down to 39.38% as of March 2025 from 42.66% as of June 2024.
CRISIL has assigned 'CRISIL AA-/Stable' rating to the bank loan facilities, and 'CRISIL A1+' rating to commercial paper programme of the company. CRISIL Ratings stated that the ratings assigned reflect the established presence of the group in the smart metering industry with strong executional capabilities, significant outstanding orders providing revenue visibility, financial flexibility with presence of GIC and changing customer profile leading to expectation of improvement in working capital profile. These strengths are partially offset by the investment requirement in under implementation portfolio and susceptibility to volatility in the prices of input materials.
The sentiment remains positive, with expectations for substantial meter installations in FY '26, although external factors like weather and elections may impact operational metrics. Additionally, the company is strategically diversifying into new segments, such as water and gas meters, while maintaining a focus on improving operational capacity and managing costs effectively.
The company aims to scale smart meter production to 15 million units annually by FY25 and targets ₹2,500 Crore in revenue for FY25 with EBITDA margins of 15% to 16%, reflecting strong growth ambitions and increasing demand for smart metering solutions in both domestic and global markets.
Genus Power Infrastructure Limited operates advanced manufacturing units, R&D centers, and corporate offices across India, including Sitapura (Jaipur), Haridwar (Uttaranchal), and Guwahati (Assam). These state-of-the-art facilities collectively boast an annual production capacity exceeding 10 million meters. The company has a top-tier R&D center recognized by the Ministry of Science and Technology, Government of India, enabling it to develop innovative, customized, and affordable metering solutions.
Emkay Global Financial has reiterated a 'BUY' rating on Genus Power Infrastructures, maintaining a target price of ₹450, citing its significant market share and potential benefits from the smart meter installation drive. 100% of analysts recommend a 'BUY' rating for Genus Power Infrastructures Ltd with an average target price of ₹413.
Genus Power Infrastructures continues to strengthen its position as a leader in India's smart metering revolution, benefiting from government initiatives in power sector modernization and the growing demand for efficient energy management solutions.
