Genus Power - Metering The Smart Way: ICICI Securities Initiates Coverage
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ICICI Securities Report
Genus Power Infrastructures Ltd. is a leading smart meter solutions provider in India, with a total manufacturing capacity of 10 million meters per annum.
It is the largest listed smart electricity meter company in India and provides end-to-end services including set-up of advanced metering infrastructure and facility management systems post implementation.
With more than 25% pan-India market share in meters, Genus Power is set to become one of the largest beneficiaries of upcoming smart meter installation drive under the Rs 3 trillion revamped distribution sector scheme (of which 50% is for smart meters).
The scheme targets installation of 100 million and 250 million prepaid smart meters by December 2023 and March 2025 respectively, replacing conventional meters and structurally transforming the financial dynamics of the power sector.
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