Manufactures and supplies smart electricity meters, with the Metering Business contributing 99.7% of FY26 segment revenue at ₹2,442.01 crore and ₹462.79 crore in EBIT. The remaining 0.3% (₹6.97 crore) is booked under Strategic Investment Activity. Operations run on an AMISP (Advanced Metering Infrastructure Service Provider) model under the government's Revamped Distribution Sector Scheme (RDSS), in partnership with GIC Singapore, with all 24 AMISP projects now Operational Go-Live. Annual manufacturing capacity exceeds 18 million meters, and the company crossed 1 crore cumulative meter installations under RDSS in FY26. The total order book of ₹25,173 crores covers 8–9 year concessions, converting into annuity-style revenue that includes recurring O&M income scaling from ₹150 crores in FY26 toward ₹800 crores per annum on the current book. Raw materials are the dominant cost at 67.8% of revenue, covering chips, electronics and petroleum-linked inputs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Metering Business (100%), Strategic Investment Activity (0%). Order-book driven, project-based smart metering business with long 8–9 year concession visibility and scaling recurring O&M annuity
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 685 | 808 | 1,201 | 2,442 | 4,751 |
| EBITDA (ex other income) | 60 | 79 | 135 | 470 | 913 |
| margin % | 8.7 | 9.7 | 11.2 | 19.2 | 19.2 |
| Owners' profit | 0 | 29 | 87 | 0 | 0 |
| EPS, as reported (₹) | 2.50 | 1.26 | 3.61 | 11.27 | 21.42 |
| ROE % · ROCE % | 6.0 · 9.8 | 3.0 · 6.8 | 5.5 · 11.1 | 16.7 · 20.0 | 26.7 · 27.4 |
| Debt / equity (x) | 0.28 | 0.35 | 0.37 | 0.73 | 1.04 |
| Cash from operations | 28 | 86 | (152) | (443) | (219) |
| Capex | (15) | (25) | (74) | (113) | (297) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 487 | 604 | 937 | 942 | 1,149 | 1,122 | 1,537 | 1,365 |
| Profit before tax | 109 | 72 | 161 | 174 | 192 | 171 | 231 | 233 |
| Net profit | 83 | 57 | 123 | 137 | 143 | 140 | 172 | 197 |
| EPS (₹) | 3.00 | 2.05 | 4.46 | 4.97 | 5.17 | 5.07 | 6.21 | 7.11 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WAAREE ENERGIES LIMITED | 75,508 | 19.8 | 5.03 | 12.2 | 25.9 | 29.0 | — | 20.3 |
| APAR INDUSTRIES LTD. | 70,293 | 59.5 | 13.03 | 36.9 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED | 44,224 | 26.2 | 10.26 | 18.0 | 35.0 | 25.7 | — | 30.8 |
| EMMVEE PHOTOVOLTAIC PWR L | 23,872 | 17.9 | 6.46 | 13.3 | 29.3 | 31.2 | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Notice of 34th AGM and E-Voting Information | compliance | minimal | — | — |
| 3 Sept 2026 · Genus Power files BRSR for FY 2025-26 with ESG targets | compliance | minimal | — | — |
| 3 Sept 2026 · 34th AGM Notice and Annual Report for FY26; Dividend of Re 0.50 per share | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · 34th AGM on Sept 25, 2026: Re 0.50 dividend, director reappointments on agenda | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Newspaper publication for 34th AGM and Re 0.50 per share dividend | compliance | minimal | — | — |
| 27 Aug 2026 · Genus Power declares Re 0.50 final dividend; record date Sep 18, 2026 | corporate actions | medium | — | — |
| 27 Aug 2026 · Board recommends Rs 0.50 final dividend per share for FY26 | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · Final Dividend of Rs. 0.50 per share recommended for FY26 | corporate actions | high | — | — |
| 24 Aug 2026 · Board meeting on Aug 27 to consider FY26 final dividend | corporate actions | medium | — | — |
| 14 Aug 2026 · Newspaper publication of Q1 FY27 financial results | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 36.3 |
| MTAR TECHNOLOGIES LIMITED | 22,531 | 168.8 | 27.39 | 120.2 | 11.4 | 12.4 | 28.9 | 25.8 |
| DIAMOND POWER INFRA LTD | 19,448 | 98.9 | — | 94.7 | (26.2) | 8.6 | — | 12.3 |
| AVALON TECHNOLOGIES LTD | 15,293 | 114.3 | 21.19 | 76.2 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD ◆ | 9,830 | 13.7 | 4.43 | 12.1 | 26.7 | 22.7 | 50.8 | 22.1 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.7 | 26.2 | 14 of 53 | 75% |
| P/B | 4.4 | 3.6 | 29 of 49 | 42% |
| ROCE | 22.7 | 12.3 | 15 of 56 | 75% |
| ROE | 26.7 | 11.5 | 10 of 53 | 83% |
| Debt / Equity | 1.0 | 0.2 | 48 of 53 | 10% |
| EBITDA margin | 22.1 | 12.6 | 12 of 51 | 78% |
| Revenue growth | 44.8 | 20.7 | 16 of 46 | 67% |
| Profit growth | 43.2 | 37.7 | 21 of 45 | 55% |
| Market cap | 9830 | 641 | 8 of 56 | 87% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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