Genus Overseas - Electricity Goes Pre Paid

Genus Launches RFID Based Electric Meters

Genus Overseas Electronics Ltd has announced that it has come out with a RFID based contactless smart card Pre Paid meter, which has distinct advantages over the conventional key paid based or plug in type card based Pre Paid Meters. The new developed product is in line with the 11th Power Plan recommendation on Pre Paid Meters.

The new product will ensure advance revenue collection for the utilities and with the Government policies aligning to promote the concept will have a huge market potential in coming years.

The pilots for the technology have already started in India and the product is getting an international acceptability. Recently Genus pre paid meters have been approved by Brazalian Utilities.

Genus is providing the complete infrastructure in terms of vending station, servers and relevant software and in all probability will ensure a better revenue recovery model for Electricity Utilities.

Genus is expecting very good orders for the aforesaid new product from State Electricity Board and Private Utilities.

For over a decade "Genus" has been providing Technically advanced Metering Products and Solutions through which Electricity Distribution Utilities have been able to control and reduce the Electricity theft and have also been able to improve the revenue recovery.

Source : Bombay Stock Exchange

Genus Overseas - Is Now Genus Power Infrastructures

Genus Reports 57% Increase In PAT

Genus Power Infrastructures Ltd(formerly Genus Overseas Ltd) has reported 57% increase in profit after tax for the quarter ending March to Rs 12.6 crore compared to Rs 8 crore in the corresponding period last year. Backed with a robust demand for power equipment makers, net sales for the electronic meter manufacturer rose 35.4% to touch Rs 152 crore during the quarter. For the full financial year, the company reported 84.3% increase in net profit to Rs 28.2 crore as against Rs 15.3 crore last year. Net sales posted a growth of 72% during the year and stood at Rs 365.16 crore.

The demand for meters is soaring on the back of the government's aim of providing power for all by 2012 as well as the focus on 100% metering and replacement of old mechanical meters with electronic energy meters (EEMs). Genus Overseas Electronics is a leading manufacturer of tamper-proof EEMs and to cater to the growing demand for EEMs, the company has expanded its manufacturing capacity by setting up a new plant for EEMs in the tax-free zone at Uttranchal.

The order book of the company stood at Rs403 crore (including export orders worth Rs15 crore) at the end of March 2007. The order flow is expected to remain robust as the government's mission of "Power to all by 2012" with the focus on 100% meeting and replacement of old mechanical meters with electronic energy meters fueling the growth. To cater to the growing need of electronic energy meters, the company has set up a new manufacturing plant in the tax-free zone at Uttranachal. The commercial production from the plant has started and is expected to contribute around Rs150 crore to the top line of the company on a full year basis.

To capture the huge growth opportunities in the overseas markets and also as a de-risking strategy, the company has entered into a 50:50 joint venture with Mobix Wireless Solutions Ltd, a leading Brazilian company in communications technology. The land for the plant has already been acquired and the orders for equipments have been placed.

Genus Overseas - Mindblowing Third Quarter Results

Genus Overseas came out with mindblowing third quarter results. Gross Sales jumped 240% from Rs. 262.95 Million to Rs. 895.27 Million. Net Profit jumped 276.75% from Rs. 16.64 Million to Rs. 62.69 Million as compared to the same quarter last year. Third quarter EPS is Rs. 5.78.

The company saw topline growth of 105% and bottomline growth of 88%. Margins expanded to 15.5% on back of control on admin and staff costs, raw material costs were at 69% of sales.

Genus has secured an order of Rs 75 crore from Rajasthan State Electricity Board (SEB) to supply electronic energy meters. The company had previously bagged Rs 120 crore order from WBSEB. So the orders that the company has in hand is worth Rs 510 crore on December 26,'06, which covers the next three-four months.

Going forward, Genus Overseas will gain from the replacement market in Surat, where recent floods damaged meters, she adds. It is also expected that Genus Overseas will benefit from the ongoing Accelerated Power Development and Reform Programme (APDRP), as all existing electro mechanical meters are to be replaced with tamper roof electronic meters.

Further, the government intends to implement 100% metering to cut down losses for SEBs (state electricity boards) and is targeting electrification of 125,000 villages (23 mn new rural connections). All these events will act as growth drivers for the company.