Genus Power Infrastructures Share Price

Genus Power Infrastructure Ltd

Genus Power Infrastructure Limited, a part of the Kailash Group, is one of India’s prominent engineering, procurement, and construction (EPC) companies. Established in 1992 under the name Genus Overseas Electronics Limited, the company rebranded itself to Genus Power Infrastructure Limited on March 31, 2007. Genus Power is primarily engaged in the manufacturing of energy meters and providing metering solutions, along with offering comprehensive engineering, construction, and turnkey project management services for power infrastructure projects. Over the years, the company has transformed from a meter manufacturer into a well-established player in the power infrastructure sector, offering end-to-end solutions for energy metering, transmission, and distribution.

The company is recognized for its proficiency in designing, manufacturing, and executing Static Energy Meters and Metering Installation Projects. Genus Power is also deeply involved in the development of smart metering technologies, including Automatic Meter Reading (AMR) systems and energy management solutions. With an advanced technological edge, Genus Power provides a variety of metering solutions including both residential and industrial meters, as well as Automatic Metering Infrastructure (AMI) solutions. The company’s products are characterized by advanced security and anti-tamper features, ensuring reliability and efficiency in energy consumption monitoring.

Early Years and Growth Trajectory

Genus Power’s journey began in 1992, when it was incorporated as Genus Overseas Electronics Limited. Initially, the company’s focus was on manufacturing energy meters and other electronics components. By 1994, the company had expanded its product portfolio and ventured into the manufacturing of Thick Film Hybrid Microcircuits and Surface Mount Technology (SMT) PCT Assemblies. By 1998, Genus Power had grown to become the largest manufacturer of energy meters in India. This early success laid the foundation for its future expansion into more sophisticated and technology-driven products.

The company’s entry into multifunctional and multitariff meters in 1999 was a significant milestone, as these advanced meters were designed to cater to the evolving needs of the energy sector. As the demand for energy management solutions grew, Genus Power responded by diversifying its portfolio. By 2002, the company had earned recognition from the Department of Scientific and Industrial Research (DSIR) of the Government of India for its contributions to design and development, underscoring its growing technological capabilities.

Expansion and Technological Innovations

In 2004, Genus Power introduced India’s first Sure Sine Wave™ Super Inverter™, a significant technological breakthrough that helped the company tap into the rapidly expanding inverter market. The introduction of lean manufacturing principles, aided by TBM consultants from the United States, helped streamline the company’s production processes, making them more cost-effective and efficient. These developments were in line with the company's vision to become a leader not just in meter manufacturing, but also in providing comprehensive power solutions.

In 2003-2004, Genus Power established a wind farm project in Jaisalmer, Rajasthan, generating electricity for its own use. This move marked the company’s first foray into renewable energy, a sector that would become increasingly important in the years to come. In 2005, the company expanded its manufacturing capacity by setting up a new plant in Haridwar, Uttarakhand. This facility was designed to produce inverters, UPS systems, electronic energy meters, and other related products. The plant’s commercial production began in 2006, further strengthening the company’s position in the power infrastructure market.

Strategic Partnerships and Expansion into Smart Metering

By the mid-2000s, Genus Power had expanded its operations beyond the manufacture of traditional energy meters to include the design and development of advanced metering systems. In 2006, the company entered into a joint venture with the Brazilian company Mobix to develop and manufacture electronic energy meters incorporating state-of-the-art AMR technology. This collaboration marked the beginning of Genus Power's transition to smart metering solutions, which would eventually become a key segment of its business.

In 2007, Genus Power also secured significant orders, including a Rs. 117.65 crore contract from West Bengal State Electricity Board for agricultural metering and a Rs. 75 crore contract from Rajasthan State Electricity Board for the supply of single-phase and three-phase electronic energy meters. These contracts signaled the company’s strong presence in the Indian energy sector and its ability to execute large-scale projects.

In the same year, Genus Power unveiled a revolutionary Keypad-based Prepaid Electricity Meter, which provided several advantages over traditional card-based meters. The company also developed an innovative PLC (Power Line Communication) modem, designed for use in data transfer applications such as home automation, intelligent buildings, and remote meter reading.

Product Diversification and International Ventures

Genus Power continued to expand its product offerings by introducing new technologies and solutions. In 2008, the company launched a Smart Street Lighting System, an IT-enabled system for automatic online monitoring and data analysis. This product was designed to improve the efficiency of street lighting networks and integrate them into smart city infrastructures. Furthermore, Genus Power became the first company in India to obtain DLMS (Device Language Message Specification) certification for its energy meters, underscoring its commitment to meeting international standards.

In 2008, the company also signed an MoU with the Government of Rajasthan to revive Jaipur Metals and Electricals Ltd. This collaboration expanded Genus Power’s portfolio to include power distribution transformers and poles, strengthening its presence in the power infrastructure sector.

By 2010, the company had launched several new products, including the STS20-compliant poly-phase prepaid energy meter and advanced metering infrastructure solutions for energy auditing. These innovations were aimed at addressing the growing demand for energy management solutions and reinforcing the company’s position as a leader in the metering industry.

Recent Developments and Smart Metering Solutions

Genus Power continued to innovate and expand its product portfolio in the subsequent years. In 2017, the company set up a manufacturing facility in Guwahati, Assam, which cost Rs. 1,787.42 lakhs to develop. The new plant commenced production in 2017 and has since played a critical role in meeting the growing demand for energy metering solutions. That same year, the company implemented India’s first end-to-end smart metering solution at the HPSEB Smart Grid Pilot Project in Kala Amb, Himachal Pradesh.

In 2018, Genus Power launched smart meters with 3G communication capabilities, a significant step forward in the evolution of smart grid technologies in India. The company continued to strengthen its presence in the smart metering sector by becoming the first company in Asia Pacific to supply 1.5 million smart meters to Energy Efficiency Services Limited (EESL) in 2020. In 2019, Genus Power partnered with Vodafone Idea to set up India’s first Narrowband IoT (NB-IoT) solution for AMI, marking a milestone in the development of next-generation metering systems.

Genus Power’s Financial Growth and Market Outlook

As of recent years, Genus Power Infrastructure Limited has continued to experience steady growth, largely driven by its focus on innovation and expanding its product portfolio. The company’s market presence is bolstered by its advanced metering solutions, smart grid technologies, and turnkey project management capabilities. For investors, the Genus Power Infrastructure share price is an indicator of the company’s expanding market reach and increasing role in the power infrastructure and metering sector. The consistent delivery of large-scale projects and the growing demand for smart metering solutions have contributed positively to the company’s financial outlook.

In 2021, Genus Power signed an MoU with Tata Power Delhi Distribution Limited to provide education and training on AMI deployment. This partnership is expected to boost the company’s reputation and further its penetration in the smart metering market. In 2022, the company demerged its strategic investment division into Genus Prime Infra Limited, a move that allowed the company to streamline its operations and focus more on its core metering and infrastructure solutions.

Quick overview

Genus Power Infrastructure Limited has evolved from a meter manufacturing company to a comprehensive power infrastructure player, providing end-to-end solutions in metering, power distribution, and energy management. The company’s continued innovation, particularly in the smart metering and smart grid sectors, has positioned it as a market leader in India and Asia Pacific. With a diverse range of products and services, including advanced metering solutions, renewable energy projects, and power infrastructure services, Genus Power is well-positioned for future growth. Investors tracking the Genus Power Infrastructure share price can expect continued momentum, driven by the company’s commitment to innovation and its ability to adapt to the changing needs of the energy sector.