Smart Meter Stock Hits 5% Upper Circuit After Reporting 148% YoY Increase in Net Profit

SYNOPSIS: Q3 FY26 saw strong YoY growth with revenue up 86 percent and profit up 148 percent, despite marginal QoQ softness, supported by a robust Rs. 27,217 crore order book.

Shares of one of the exclusive Advanced Metering Infrastructure Service Provider (AMISP) players offering in-house smart meters, communication, HES, and MDMS solutions hit a 5 percent upper circuit on Tuesday, after reporting mixed Q3 FY26 results with a rise in net profit by 148 percent YoY.

With a market cap of Rs. 8,426.8 crores, shares of Genus Power Infrastructures Limited opened in the green and hit a 5 percent upper circuit at Rs. 280.95 on BSE, compared to its previous closing price of Rs. 267.6. The stock has delivered negative returns of over 6 percent in one year, but has gained by around 6 percent in the last one month.

Financials

Genus Power Infrastructures Limited announced the financial results for the third quarter of FY26 on Monday after market hours, as per the latest regulatory filings with the stock exchanges.

For Q3 FY26, the company posted a consolidated revenue from operations of Rs. 1,122.4 crores, reflecting a sequential decline of more than 2 percent QoQ compared to Rs. 1,149 crores in Q2 FY26. However, on a year-on-year basis, revenue increased by about 86 percent from Rs. 604 crores recorded in Q3 FY25.

Meanwhile, the net profit for the quarter stood at Rs. 140 crore, indicating a marginal decrease of around 2 percent QoQ from Rs. 143 crores in Q2 FY26. In contrast, on a year-on-year basis, it reported an impressive increase of nearly 148 percent from Rs. 56.6 crores reported in Q3 FY25.

Order Book

During FY24, the company entered into a joint venture agreement (JVA) with Gem View Investment Pte. Ltd. to set up a platform for bidding and operating Advanced Metering Infrastructure Service Provider (AMISP) projects. Under this arrangement, Genus Power holds a 26 percent equity stake in the newly incorporated Gemstar Infra Pte. Ltd. as of December 2025.

As of December 2025, the company’s total executable order book stood at Rs. 27,217 crore, of which Rs. 25,053 crore relates to projects awarded under the JVA. These projects are being executed through special purpose vehicles (SPVs) that are, or will be, controlled by Gemstar Infra Pte. Ltd. The SPVs, in turn, have subcontracted the execution work to the company.

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 (core business division).

The company has also been engaged in making strategic investment activity, where investments are made in shares and securities based on a thorough and systematic evaluation by the company and the management.

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