NSE: GENUSPOWER · BSE: 530343
GENUS POWER INFRASTRU LTD
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
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ 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) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ 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 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WAAREE ENERGIES LIMITED | 64,618 | 16.9 | 4.30 | 10.5 | 25.9 | 29.0 | — | 20.3 |
| APAR INDUSTRIES LTD. | 61,818 | 52.3 | 11.46 | 32.5 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED | 38,368 | 22.7 | 8.90 | 15.7 | 35.0 | 25.7 | — | 30.8 |
| MTAR TECHNOLOGIES LIMITED | 21,476 | 160.9 | 26.11 | 114.7 | 11.4 | 12.4 | 28.9 | 25.8 |
| DIAMOND POWER INFRA LTD | 17,071 | 86.8 | — | 84.5 | (26.2) | 8.6 | — | 12.3 |
| EMMVEE PHOTOVOLTAIC PWR L | 16,879 | 12.7 | 4.57 | 9.4 | 29.3 | 31.2 | — | 36.3 |
| AVALON TECHNOLOGIES LTD | 13,663 | 102.2 | 18.93 | 68.1 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD ◆ | 8,270 | 11.5 | 3.73 | 10.5 | 26.7 | 22.7 | 50.8 | 22.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.5 | 22.4 | 12 of 52 | 78% |
| P/B | 3.7 | 3.3 | 29 of 49 | 42% |
| ROCE | 22.7 | 12.4 | 15 of 55 | 74% |
| ROE | 26.7 | 12.4 | 10 of 50 | 82% |
| Debt / Equity | 1.0 | 0.3 | 45 of 50 | 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 | 8270 | 591 | 8 of 56 | 87% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Genus Power approves Rs 148.20 crore share buyback at Rs 312 | compliance | minimal | — | — |
| 28 Oct 2026 · Buyback approved for up to 47.5 lakh shares at Rs 312 each | corporate actions | high | — | — |
| 28 Oct 2026 · Board approves Rs 312 per share buyback of up to 47.50 lakh shares | corporate actions | high | — | — |
| 26 Oct 2026 · Buyback record date fixed at October 30, 2026 | corporate actions | high | — | — |
| 26 Oct 2026 · Board approves up to Rs 148.20 crore share buyback | board shareholder meetings | low | — | — |
| 19 Oct 2026 · Board to consider share buyback proposal on Oct 26, 2026 | corporate actions | high | — | — |
| 13 Oct 2026 · Routine SEBI compliance certificate on Q2 FY26 dematerialisation | compliance | minimal | — | — |
| 9 Oct 2026 · Analyst/investor group meet scheduled for Oct 16, 2026 | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Promoter entity Hi-Print Electromack acquires 0.98 percent via NCLT scheme | ownership changes | medium | — | — |
| 25 Sept 2026 · 34th AGM: FY26 results adopted, Rs 0.50 dividend declared, two directors re-appointed | results | medium | — | — |
How to read this document
| 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 | 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 |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.