Genus Power and other smart meter stocks under ₹300 with low debt to add to your watchlist

The smart metre market is expected to grow from $219.7 million in 2023 to $3,179.5 million by 2032, reflecting a CAGR of 34.57 percent from 2024 to 2032. As of January 2024, around 8.6 million smart consumer meters have been installed, with 3.02 million added in FY24 alone. 

As part of government initiatives, the Smart Meter National Program (SMNP) aims to replace 250 million conventional electricity meters with prepaid smart meters nationwide by 2025. This initiative aims to significantly improve the efficiency of energy management and reduce aggregate technical and commercial (AT&C) losses. The program carries an estimated capital expenditure of Rs 1.5 lakh crores, with implementation planned over the next five fiscal years.

Following are a few smart meter stocks under Rs. 300 with low debt:

1. Genus Power Infrastructures Limited 

With a market capitalisation of Rs. 7,735 crores, the stock moved up by around 5 percent on BSE to Rs. 263.65 on Tuesday. The company’s debt-to-equity ratio stands at 0.71, with a Return on Equity (RoE) of 5.92 percent and a return on capital employed (RoCE) of 9.76 percent. 

In Q3 FY25, the company’s revenue from operations increased by around 132.3 percent YoY to Rs. 604 crores, while the net profit grew from a loss of Rs. 10 crores in Q3 FY24 to a profit of Rs. 57 crores in Q3 FY25. Over the last one year, the stock has delivered positive returns of about 3 percent, but has fallen nearly 18 percent in the last one month. 

Genus Power Infrastructures Limited is engaged in the business of manufacturing and providing metering and metering solutions and undertaking engineering, construction and contracts on a turnkey basis.

2. India Power Corporation Limited 

With a market capitalisation of Rs. 1,183 crores, the stock moved up by around 3 percent on NSE to Rs. 12.39 on Tuesday. The company’s debt-to-equity ratio stands at 0.16, with a Return on Equity (RoE) of 1.69 percent and a return on capital employed (RoCE) of 4.36 percent.

In Q3 FY25, the company’s revenue from operations increased by around 11 percent YoY to Rs. 159.06 crores, while the net profit fell marginally by nearly 33.4 percent YoY to Rs. 2.65 crores. Over the last one year, the stock has delivered negative returns of about 37 percent, as well as nearly 19 percent returns in the last one month. 

Established in 1919, India Power Corporation Limited (IPCL), formerly known as DPSC Limited, has built a diversified portfolio across India, encompassing power distribution, smart metering, digital transformation and both renewable and conventional power generation. 

As of FY24, IPCL has installed more than 2.5 lakh smart meters in Madhya Pradesh and aims to secure contracts for 20 million smart metres over the next 5-7 years.

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3. NCC Limited 

With a market capitalisation of Rs. 11,084.6 crores, the stock moved up by around 1.2 percent on BSE to Rs. 178.9 on Tuesday. The company’s debt-to-equity ratio stands at 0.25, with a Return on Equity (RoE) of 11.4 percent and a return on capital employed (RoCE) of 22.1 percent. 

In Q3 FY25, the company’s revenue from operations increased by around 1.6 percent YoY to Rs. 5,345 crores, while the net profit fell by nearly 11 percent YoY to Rs. 206 crores. Over the last one year, the stock has delivered negative returns of about 29 percent, as well as nearly 24 percent in the last one month. 

NCC Limited is engaged in the infrastructure sector and undertaking turnkey EPC contracts, and the range of verticals comprises of buildings & housing, transportation, water & environment, railways, electrical, transmission & distribution and smart meter projects, irrigation, mining, metals, tunnel projects, real estate, and international business. 

In FY24, the company entered the new segment of Smart Meters and in Q4 FY24, NCC bagged three projects worth Rs. 8,080 crores.

Written by Shivani Singh

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