Date: August 14, 2026

Financial Performance Q1FY27 (Standalone)

Revenue: ₹1,364.9 crore, up 44.8% YoY from ₹942.4 crore in Q1FY26. Growth driven by strong execution of order book, ramp-up in smart metering projects, and sustained market demand.

EBITDA: ₹260.1 crore, up 30.4% YoY from ₹199.5 crore in Q1FY26.

EBITDA Margin: 19.1%, compared to 21.2% in Q1FY26. Margin contraction primarily due to lower gross margins.

Gross Margin: 37.0%, declined from 39.6% YoY, though increased sequentially. Decline attributed to rise in raw material costs amid ongoing supply disruptions due to West Asia geopolitical crisis.

Profit After Tax (PAT): ₹162.8 crore, up 26.7% YoY from ₹128.5 crore in Q1FY26.

PAT Margin: 11.9%, compared to 13.6% in Q1FY26.

Order Book: Total order book including all SPVs and GIC Platform as of June 30, 2026 stands at approximately ₹24,020 crore (excluding taxes). These concessions are for 8-9 years duration.

Key Operational Highlights

Manufacturing Capacity: Over 1.8 crore meters annually

FY27 Installation Target: At least 1 crore smart meters

Project Status: All projects have achieved operational go-live (OGL)

Management Commentary & Outlook

FY27 Revenue Guidance: ₹6,000–6,500 crore, supported by increasing execution across existing projects and conversion of executable order book. Momentum expected to strengthen in H2 due to seasonality in installation activity.

Working Capital Expectations: 50-75 days improvement in working-capital days compared to FY26. Requirement for incremental working capital expected to reduce materially, with positive operating cash flow expected from FY28.

O&M Revenue Projections: Expected to become meaningful from FY28, potentially reaching ₹600–700 crore, with further potential to reach ₹1,100–1,200 crore over subsequent years as installed base matures.

Market Opportunity: 31–32 crore electricity meters expected to transition to smart meters. Approximately 8–9 crore meters expected to be tendered during FY27.

Diversification Initiatives:

  • Gas metering opportunity in India estimated at ₹35,000–36,000 crore over next 3–4 years
  • International business potential of about ₹500 crore over next 3-4 years

Additional Information

Note on Consolidation: Variance in PAT between standalone and consolidated financials primarily arises from mark-to-market gains/losses associated with Genus Paper & Boards Limited, representing notional accounting adjustments rather than realized profits/losses.

Business Description: Genus Power is India's leading provider of end-to-end smart energy measurement solutions for electricity, gas, and water. Major market share in smart meter manufacturing and key player in Advanced Metering Infrastructure Service Provider (AMISP) ecosystem. Offers comprehensive metering solutions including FMS, communication systems, and proprietary software platforms.

Manufacturing Facilities: Large-scale, fully integrated facilities in Jaipur, Haridwar, and Guwahati with automated SMT lines and robot-assisted moulding processes.

Certifications: ISO 9001 and ISO 14001 certifications with compliance to IS, IEC, and MID standards.

Geographic Reach: Utilities in India and across Africa, Middle East, Southeast Asia, Pacific, and SAARC regions.