Genus Power Infrastructures has reaffirmed its revenue guidance of Rs. 60 bn to Rs. 65 bn for FY27 and retained its 18 per cent margin target. The company’s outlook is supported by a robust order book of Rs. 240 bn as of June 30 and continued demand for smart metering infrastructure.

Jitendra Kumar Agarwal, joint managing director of Genus Power Infrastructures, said the company expects to install 10 mn smart meters during the current financial year. Although state tender activity has slowed recently, the management expects order inflows to strengthen over the next six to 12 months as Kerala, Tamil Nadu, Haryana and Punjab issue new tenders.

Agarwal also linked future demand to the Rs. 1.86 tn allocation for Green Energy Corridor 3, which is expected to reinforce the need for smart meters across India. The management said reports of consumer resistance and state-level reversions to postpaid systems represented isolated developments rather than a nationwide reversal of the rollout.

Uttar Pradesh has already recorded 8.5 mn smart meter users, with between 10,000 and 15,000 new installations taking place each day, according to the company. Genus Power said individual developments in Maharashtra and Uttar Pradesh should not be treated as representative of the broader national programme, which continues to advance across states.

On its joint venture platform with GIC, Genus Power has invested Rs. 5.5 bn so far and plans to deploy a further Rs. 6 bn to Rs. 6.5 bn. The platform’s current order book stands at 36.1 mn meters. The manufacturer expects working capital conditions to improve as projects become operational, while debt and working capital requirements are expected to ease from FY28 onwards. Genus Power shares have declined nearly 2 per cent over the past year, and the company has a market capitalisation of about Rs. 91.64 bn.