Genus Power Q2 PAT skyrockets 162% YoY to Rs 148 cr

The PAT improvement was driven by sustained operational excellence, margin expansion, and better absorption of fixed costs, despite higher finance costs.

Revenue growth was driven by robust execution of the large smart metering order book, steady project rampups across multiple states and sustained sectoral tailwinds.

Profit before tax (PBT) stood at Rs 202.44 crore in Q2 FY26, up 168.02% year-on-year.

EBITDA stood at Rs 244.4 crore, more than triple the Rs 81.4 crore recorded in Q2 FY25. The EBITDA margin improved significantly by 456 basis points year-on-year to 21.3% in Q2 FY26, reflecting strong operating leverage, efficient project execution, and disciplined cost management.

As of 30th September 2025, total order book stands at approximately Rs 28,758 crore (net of taxes), providing clear visibility for strong revenue growth in the coming years.

Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures said, ?Q2FY26 was another strong quarter for Genus Power, reflecting consistent execution and healthy growth across our smart metering programs. Revenue for the quarter stood at Rs 1,149 crore, marking a sharp year-on-year increase, driven by the scale-up of AMISP projects and the smooth transition of several large contracts into the operational phase.

Profitability remained robust with EBITDA margin at 21.3%, supported by operating leverage and cost efficiencies. PAT also saw a significant surge over last year, underscoring the strength of our business model and disciplined execution approach. The performance in the first half of the year has been encouraging and demonstrates our ability to combine scale with profitability as we continue to expand our presence across key smart metering markets.

Our manufacturing and on-ground capabilities are fully aligned with the expanding rollout. With an annual smart meter capacity of around 1.8 crore units and healthy utilisation levels, we are well positioned to meet the growing demand. Installation momentum continues to strengthen, and we remain on track to achieve our targeted rollout of meters in FY26.

Our consolidated order book of more than 28,750 crore provides strong multi-year visibility, with a balanced revenue mix between EPC and long-term O&M contracts that will help create a stable annuity stream. The industry backdrop remains favourable, supported by strong policy continuity and sustained implementation under the RDSS program.

Genus continues to maintain a leadership position with a sizeable share of the overall smart metering opportunity. As more projects move into the operational phase, working capital efficiency and cash conversion are expected to improve steadily. With execution progressing well and the first half tracking ahead of plan, we are confident of delivering a strong FY26 while continuing to build on our position as a trusted, technology-driven partner in India?s smart metering transformation. Our focus remains on timely execution, efficient project monetisation, and building a scalable, technology-led platform to capture the next phase of India?s smart metering growth story.?

Genus Power Infrastructures, started in 1995, is amongst the largest players in India?s electricity metering solutions industry. Company is a market leader in various kinds of meters and has developed ?smart metering solutions?, with in house R&D centre. Company has manufacturing plants across Jaipur, Haridwar and Guwahati with a total installed capacity of over 18 million meters. Our key customers include the major State electricity boards (SEB?s) and private utilities.

Shares of Genus Power Infrastructures rose 0.45% to Rs 356.90 on the BSE.

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