### **Overview** Genus Power Infrastructures Ltd., established in 1992 (incorporated in 1995), is one of India’s largest and most integrated smart metering solutions providers. With over three decades of experience, the company has evolved from a traditional electricity meter manufacturer into a **leading Advanced Metering Infrastructure Service Provider (AMISP)**. It offers end-to-end, scalable, and 'Made in India' solutions across smart electricity, gas, and water metering ecosystems, positioning itself at the forefront of India’s grid modernization under the **Revamped Distribution Sector Scheme (RDSS)**. Genus is part of the $400 million Kailash Group and operates under an asset-light DBFOOT (Design-Build-Finance-Own-Operate-Transfer) model, capturing long-term recurring revenue streams. The company is a trusted partner to over 40 State Electricity Boards (SEBs), private utilities, and international clients, serving roughly one in five Indian households. --- ### **Core Business Segments & Product Portfolio** #### 1. **Smart Metering Solutions** - **Electricity Meters**: - Residential (Sugam, Shikhar series), Commercial, Industrial (HT CT meters), Prepaid (Agrim, DIN RAIL PPEM), and Postpaid smart meters. - Smart DT Meters (Sampoorna thread-through, Saksham 340), Grid/Substation Meters (Samagra), and ABT-compliant meters. - **Gas & Water Meters**: - **g-Setu MIU**: A retrofit solution enabling smart functionality for existing mechanical gas meters via LoRa/RF. - **SALIL**: Static ultrasonic smart water meter with NB-IoT connectivity, leak detection, pressure sensing, and remote monitoring—commercialized for global markets. - G1.6 Diaphragm Gas Meters (SKG-16). - **Net & Renewable Integration**: - Net meters for rooftop solar, DC meters for EV charging stations, and dual-input (grid + generator) meters for housing societies. #### 2. **Advanced Metering Infrastructure (AMI) Stack – Fully In-House** Genus is **one of the few vertically integrated players globally** offering complete in-house AMI software and hardware: - **Head-End System (HES)**: Centralized platform for secure two-way communication with smart meters (GPRS, RF, NB-IoT, LoRa). Supports integration with third-party meters and utilities. - **Meter Data Management System (MDMS)**: Central intelligence system for data validation, billing, analytics, and operational insights. - **Base Computer System (BCS)**, **Network Management System (NMS)**, **Prepaid Vending Software (STS/CTS-compliant)**. - **Mobile Apps & Consumer Engagement Platforms**: Real-time usage monitoring and consumer control. - **Urja+ Platform**: An integrated SaaS suite combining HES, MDMS, Field Workforce Management (WFM), and consumer apps—deployed across multiple DISCOMs. #### 3. **Service Models** - **AMISP Model (DBFOOT/TOTEX)**: - 8–10 year concession contracts providing **per-meter-per-month recurring revenue**. - Genus finances and owns assets during contract tenure, transferring ownership to DISCOM post-contract. - **Facility Management Services (FMS)**: O&M, consumer indexing, remote meter readings, and automated energy audits. - **Software as a Service (SaaS)**: Recurring revenue from HES and MDMS licenses. --- ### **Manufacturing & R&D Strengths** #### **Manufacturing** - **Annual Capacities**: - **Smart Meters**: ~1.8 crore units (~18 million). - **Total Meter Capacity**: Over 18 million units. - **Facilities**: Three integrated plants in **Jaipur, Haridwar, and Guwahati**, spread across ~825,000 sq. ft. - **Expansion Plans**: - New injection molding plant in **Kotputli, Rajasthan**, with 40 machines by end-FY26 to support in-house plastic components. - Greenfield expansion in Guwahati underway. - **Technology**: Fully automated SMT lines, precision injection molding, NABL-accredited testing labs, CNC tool rooms. - **Certifications**: ISO, BIS, IEC, DLMS, UL, STS, KEMA, CMMI Level 3, NABL. #### **R&D & Innovation** - Government-recognized R&D center with **over 250 engineers**, including 100+ software specialists. - **Rs. 3,143 crore R&D spend in FY24–25 (revenue + capex)**. - Developed **India’s first NB-IoT AMI setup** with Vodafone Idea (2019). - Proprietary **RF communication module platform** for supply chain resilience. - Focus on AI/ML, predictive analytics, IoT integration, and cybersecurity. --- ### **Business Model & Strategic Focus** #### **Dual Role Strategy**: 1. **AMISP (Concession Model)**: Design, build, finance, and operate smart metering projects under long-term DBFOOT contracts. 2. **OEM Supplier**: Supplies smart meters and software platforms to other AMISPs (e.g., EESL, IntelliSmart), with **Letter of Credit (LC) secured payments**. #### **Revenue Streams**: - One-time meter supply + recurring O&M/service fees. - SaaS licensing, FMS, consumer engagement platforms. - Export shipments of meters and integrated solutions. --- ### **Financial & Project Highlights (Nov 2025)** | Metric | Status | |-------|--------| | **Order Book (Consolidated)** | > **₹28,750 crore** (net of taxes), including SPVs and GIC platform | | **Smart Meters Secured under AMISP** | ~36 million meters signed/awarded | | **AMISP Projects Operational (OGL)** | **13 out of 24** live, covering **2.10 crore meters** | | **Remaining OGL Projects** | 11 projects expected by January 2026 | | **Revenue (FY25)** | ~₹2,442 crore | | **EBITDA (FY25)** | ~₹470 crore (19.2% margin) | | **Projected FY26 Revenue** | > **₹4,000 crore** with **~18% EBITDA margin** | | **Cash Flow Outlook** | Improving as projects enter O&M phase under RDSS | --- ### **Strategic Partnerships** #### **GIC Singapore – $2 Billion Joint Platform** - **Exclusive AMISP Partner** for GIC in India. - Platform dedicated to large-scale smart metering rollouts, combining Genus’ execution capability with GIC’s financial strength. - GIC holds majority stake (74%) in the joint platform, with Genus at 26%. - Enables access to capital, faster project execution, and scale. #### **Other Key Collaborations** - **U.S. DFC**: $49.5 million commitment to scale smart meter deployment in India. - **Global Clients**: Pilots and commercial orders in Nigeria, Malaysia, UAE, Australia, Burundi, and Zanzibar. --- ### **Market Position & Growth Drivers** #### **Domestic Leadership** - **~27% market share** in Indian electricity metering. - Among the **top 10 global AMI companies** (IHS Markit, 2018). - A key implementer of **RDSS**, which targets **25 crore smart meters by 2025** with ₹3 lakh crore investment. - Installed **~91 million meters** as of March 2025. #### **International Expansion** - **Active Markets**: Malaysia, UAE, Nigeria, Nepal, Bhutan, Central Africa, Pacific Islands. - **New Entry in 2025**: Burundi, Zanzibar, and U.S. R&D collaboration. - **Targeted Regions**: Africa (Africa Development Bank, World Bank programs), Middle East (GCC smart grid investments >$20B by 2030), Australia (100% smart meter adoption by 2030). - **Exports**: Growing presence in Asia-Pacific, Southeast Asia, and exploring CKD/SKD model in Africa. #### **Future Growth Avenues** - **Smart Gas**: 1.58 lakh units supplied in FY24–25; targeting 8–10 crore domestic units by 2030. - **Smart Water**: SALIL platform poised for global rollout; pilot projects in Europe with potential 500,000-unit annual order from 2028. - **EV & Renewable Ecosystem**: DC meters, net metering, smart street lighting (SSLMS), and building energy management. - **AI & Data Analytics**: Leveraging smart meter data for grid optimization, predictive maintenance, and consumer insights. --- ### **Management & Governance** - **Executive Chairman**: Mr. Ishwar Chand Agarwal (30+ years of leadership). - **Joint MD**: Mr. Jitendra Kumar Agarwal. - **Non-Executive Director**: Dr. Keith Torpy (ex-Landis+Gyr innovation head), guiding global software strategy. - **Independent Director**: Mr. Subhash Chandra Garg (former Finance & Power Secretary, Govt. of India), strengthening governance. --- ### **Subsidiaries & Structure** - **Wholly Owned**: Genus Beta, Gamma, Delta; Hi-Print Technologies; Maharashtra Akola Amravati Smart Metering (SPV). - **Associates**: - Hop Electric Manufacturing (EV & energy storage, 26% stake). - MKJ Manufacturing (50%), Greentech Mega Food Park (25.75%).