Shares of Genus Power Infrastructure were locked on 5% Upper Circuit on 10 October after the company’s wholly-owned subsidiary received two letters of award (LoA) worth Rs 3,115.01 crore.

The company, in its regulatory filing on 9 October, said that its subsidiary had received a LoA worth Rs 3,115.01 crore for the appointment of Advanced Metering Infrastructure Service Providers including the design of Advanced Metering Infrastructure system along with supply, installation, and commissioning with FMS of 34.79 lakh smart prepaid meters, system meters, including DT Meters with corresponding energy accounting on DBFOOT basis.

Mr. Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd., said, “We are pleased to announce our achievement in securing additional substantial orders for smart meters during the current fiscal year. This is a testament to the trust that our customers have in our capabilities and our commitment to providing high-quality products and services. These orders reinforce our dominant market standing as the foremost provider of intelligent metering solutions in the Indian market.”

He added that the company’s total order book stands at over Rs 14,000 crore, which highlights the strong future revenue growth of the company.

The company was established in 1995 and has become one of the largest players in India’s electrical metering solutions and has developed smart metering solutions. The company is also engaged in the business of ECC (engineering, construction, and contracts) that complements the existing metres business and has manufacturing plants across Jaipur, Haridwar and Guwahati with a total installed capacity of over 10 million meters.

At 12:37 pm, Genus Power Infrastructure shares were locked on a 5% upper circuit at Rs 273.70 on NSE.