Jaipur-based metering company Genus Power Infrastructure maintains its revenue guidance of ₹1,200-1,300 crore for the fiscal year 2024 with an EBITDA (earnings before interest, tax, depreciation, and amortisation) margin of 15%.

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Jitendra Kumar Agarwal, the company's Joint Managing Director said the company's current capacity utilisation level is around 40-45%., which will rise to 80-90% from the next financial year onwards, after which it will consider further capacity expansion.

Agarwal is hopeful of ending the current financial year with an order book of over ₹20,000 crore.

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The company recently announced a joint venture (JV) with an affiliate of Singapore sovereign wealth fund GIC with an initial commitment of $2 billion (₹16,000 crore approximately). The agreement was to set up a platform to fund smart metering projects.

Agarwal clarified that the investment required for the JV would unfold over the next two to three years. "A lot of money will get freed up from working capital, and then there will be internal accruals. So, we are pretty comfortably sitting on getting it arranged. I don’t see any challenge in that," he reassured.

Genus Power is among the largest players in electricity metering solutions in India with a market share of nearly 27%. It has manufacturing plants in Jaipur, Haridwar and Guwahati, with a total installed capacity of over 10 million meters. The company with a market capitalisation of ₹6,043 crore has a global presence with offices in the USA, Singapore, and China.

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(Edited by : Shweta Mungre)

First Published:Nov 23, 2023 7:46 PM IST