Genus Power Infrastructures Limited, incorporated in 1992 is a part of the Kailash Group.[1]It is engaged in manufacturing and providing Metering and Metering Solutions and undertaking 'Engineering, Construction, and Contracts' on a turnkey basis (core business division). It also undertakes strategic investment activity,[2]
Business Verticals1) Smart Metering Solutions:The company offers High-End Multifunction Single Phase and Three Phase Meters, CT Operated Meters & HES (Head End System), ABT & Grid Meters, Distribution Transformer (DT Meters), Pre-payment Meters, Group Metering, Smart Street Light Management Solution, Gas Meters, etc. It also provides domain-related software and SaaS to utilities through facility management services (FMS).[1]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Waaree Energies | 2560.00 | 27.25 | 73636.07 | 0.08 | 878.21 | 132.97 | 6065.64 | 69.70 | 34.94 | 17952.69 | 22.55 | 2702.29 | 842.55 | 6.41 | 12.40 | 0.26 |
| 2. | Premier Energies | 728.40 | 27.63 | 32996.11 | 0.14 | 353.44 | 71.61 | 1836.87 | 20.28 | 41.12 | 6991.77 | 30.77 | 1194.26 | 353.44 | 9.55 | 17.90 | 0.47 |
| 3. | Apar Inds. | 7478.00 | 31.97 | 30037.87 | 0.68 | 251.70 | 29.82 | 5715.42 | 23.06 | 32.70 | 20745.76 | 8.33 | 939.50 | 251.70 | 6.19 | 7.83 | 0.14 |
| 4. | Emmvee Photovol. | 218.35 | 28.34 | 15117.35 | 0.00 | 263.64 | 165.77 | 1152.25 | 118.11 | 28.01 | 2335.61 | 30.91 | 368.94 | 263.64 | 15.80 | 12.12 | 2.15 |
| 5. | Waaree Renewab. | 972.70 | 24.17 | 10149.72 | 0.10 | 120.20 | 124.67 | 851.06 | 136.18 | 82.31 | 2705.61 | 20.72 | 419.88 | 120.22 | 15.42 | 25.06 | 0.12 |
| 6. | Genus Power | 275.55 | 17.73 | 8382.72 | 0.89 | 148.15 | 162.44 | 1149.00 | 135.99 | 19.21 | 3632.39 | 21.18 | 472.85 | 148.15 | 4.47 | 8.43 | 0.93 |
| 7. | Vikram Solar | 227.08 | 31.53 | 8227.79 | 0.00 | 128.49 | 1645.79 | 1109.91 | 93.72 | 26.45 | 3423.45 | 14.37 | 139.83 | 128.49 | 2.78 | 5.16 | 0.09 |
| – | Median: 57 Co. | 216.85 | 27.99 | 671.97 | 0.0 | 9.41 | 53.91 | 115.26 | 23.42 | 20.37 | 350.85 | 12.84 | 24.65 | 9.41 | 4.26 | 8.43 | 0.32 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 219 | 200 | 202 | 261 | 259 | 260 | 420 | 414 | 487 | 604 | 937 | 942 | 1,149 |
Expenses | 202 | 180 | 175 | 233 | 234 | 231 | 365 | 351 | 406 | 487 | 728 | 743 | 905 |
Operating Profit | 17 | 20 | 27 | 29 | 25 | 29 | 55 | 63 | 81 | 117 | 208 | 199 | 244 |
Other Income | 8 | 8 | 4 | 15 | 10 | 12 | 17 | 19 | 31 | 13 | 22 | 21 | 11 |
Profit before tax | 14 | 16 | 18 | 27 | 16 | 22 | 48 | 56 | 77 | 96 | 175 | 174 | 202 |
Tax % | 27% | 29% | 29% | 29% | 29% | 38% | 34% | 24% | 25% | 29% | 26% | 26% | 27% |
Net Profit | 10 | 12 | 12 | 19 | 11 | 14 | 31 | 42 | 58 | 68 | 129 | 128 | 148 |
EPS in Rs | 0.40 | 0.45 | 0.48 | 0.75 | 0.43 | 0.52 | 1.03 | 1.40 | 1.92 | 2.24 | 4.26 | 4.23 | 4.87 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 766 | 915 | 858 | 642 | 835 | 1,055 | 1,060 | 609 | 685 | 808 | 1,201 | 2,442 | 3,632 |
Expenses | 667 | 792 | 734 | 556 | 741 | 927 | 886 | 505 | 625 | 729 | 1,065 | 1,972 | 2,863 |
Operating Profit | 98 | 123 | 124 | 87 | 94 | 129 | 174 | 103 | 60 | 79 | 136 | 470 | 769 |
Other Income | 9 | -3 | 19 | 24 | 21 | 17 | 17 | 25 | 27 | 18 | 53 | 85 | 67 |
Interest | 36 | 33 | 29 | 25 | 23 | 34 | 33 | 24 | 26 | 28 | 58 | 116 | 144 |
Depreciation | 11 | 16 | 14 | 15 | 17 | 19 | 22 | 22 | 20 | 19 | 21 | 35 | 46 |
Profit before tax | 61 | 71 | 101 | 70 | 75 | 93 | 137 | 82 | 40 | 50 | 110 | 404 | 647 |
Net Profit | 60 | 53 | 80 | 58 | 52 | 72 | 94 | 51 | 26 | 35 | 75 | 298 | 474 |
EPS in Rs | 2.36 | 2.07 | 3.12 | 2.25 | 2.00 | 2.81 | 3.64 | 1.99 | 1.00 | 1.36 | 2.47 | 9.81 | 15.60 |
Dividend Payout % | 4% | 10% | 8% | 20% | 20% | 21% | 3% | 25% | 25% | 55% | 30% | 25% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 30 | 30 | 30 |
Reserves | 408 | 462 | 630 | 679 | 723 | 785 | 860 | 909 | 929 | 959 | 1,534 | 1,817 | 1,844 |
Borrowings | 311 | 361 | 233 | 221 | 240 | 276 | 257 | 207 | 271 | 347 | 588 | 1,366 | 1,746 |
Other Liabilities | 137 | 201 | 171 | 156 | 334 | 316 | 297 | 254 | 284 | 334 | 606 | 1,110 | 1,808 |
Total Liabilities | 882 | 1,049 | 1,059 | 1,082 | 1,322 | 1,403 | 1,439 | 1,396 | 1,510 | 1,666 | 2,758 | 4,323 | 5,429 |
Fixed Assets | 99 | 130 | 138 | 164 | 167 | 178 | 173 | 163 | 156 | 157 | 193 | 285 | 293 |
Gross Block | 150.37 | 191.14 | 145.65 | 191.06 | 211.23 | 239.55 | 249.16 | 253.25 | 264.78 | 282.60 | 334.74 | 459.29 | – |
Accumulated Depreciation | 51.03 | 60.77 | 7.33 | 27.52 | 44.54 | 61.54 | 75.86 | 90.61 | 109.27 | 125.96 | 141.55 | 174.32 | – |
CWIP | 20 | 1 | 2 | 0 | 2 | 2 | 1 | 0 | 2 | 7 | 15 | 41 | 126 |
Investments | 136 | 122 | 143 | 239 | 236 | 268 | 255 | 289 | 312 | 343 | 195 | 180 | 168 |
Other Assets | 626 | 796 | 776 | 679 | 918 | 955 | 1,011 | 944 | 1,041 | 1,160 | 2,355 | 3,817 | 4,841 |
Total Assets | 882 | 1,049 | 1,059 | 1,082 | 1,322 | 1,403 | 1,439 | 1,396 | 1,510 | 1,666 | 2,758 | 4,323 | 5,429 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 68 | -13 | 88 | 157 | 6 | 50 | 134 | 108 | 28 | 87 | -154 | -443 |
Cash from Investing Activity | -31 | -16 | 79 | -115 | -5 | -49 | -13 | -39 | -108 | -81 | -429 | -142 |
Cash from Financing Activity | -6 | 20 | -82 | -74 | -23 | -22 | -83 | -53 | -15 | 87 | 523 | 350 |
Net Cash Flow | 31 | -9 | 85 | -32 | -22 | -20 | 38 | 16 | -95 | 93 | -60 | -235 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 164 | 159 | 176 | 188 | 222 | 198 | 217 | 339 | 297 | 213 | 176 | 204 |
Inventory Days | 61 | 92 | 76 | 103 | 124 | 105 | 83 | 185 | 185 | 201 | 246 | 223 |
Days Payable | 62 | 74 | 71 | 84 | 159 | 120 | 110 | 173 | 161 | 115 | 178 | 152 |
Cash Conversion Cycle | 164 | 178 | 181 | 207 | 188 | 184 | 190 | 351 | 320 | 299 | 244 | 275 |
Working Capital Days | 31 | 23 | 74 | 71 | 98 | 98 | 117 | 222 | 178 | 129 | 108 | 114 |
ROCE % | 13% | 15% | 15% | 11% | 10% | 12% | 15% | 9% | 6% | 6% | 9% | 19% |
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Stock Analysis
Genus Power Infrastructures Limited, incorporated in 1992 is a part of the Kailash Group. It is engaged in manufacturing and providing Metering and Metering Solutions and undertaking 'Engineering, Construction, and Contracts' on a turnkey basis (core business division). It also undertakes strategic investment activity.
Key drivers include accelerated smart meter installations and a substantial order book of ₹29,321 Cr, providing long-term visibility. Management expects cash flow positivity by FY26, improved working capital cycles, and is actively pursuing domestic and export opportunities in smart metering. The company also revised its FY26 revenue guidance upwards to ₹4,500 Cr.
Order Book: September 2025 = ₹28,758 Cr.
Corporate Announcements