Genus Power Hits 26M Smart Meter Milestone
Indian energy solutions provider Genus Power has surpassed a major milestone, with over 26 million of its smart meters now deployed worldwide. The achievement reinforces the company's position as a leading global player in advanced metering infrastructure.
Genus Power's recent milestone is buoyed by a massive order book which, as of December 31, 2025, stood at approximately INR 27,217 crore, providing the company with multi-year revenue visibility. This surge in orders is largely driven by its role as an Advanced Metering Infrastructure Service Provider (AMISP) under long-term contracts. The company's robust performance is reflected in its Q3 FY26 results, which saw a net profit soar by 116% year-over-year to ₹147.62 crore and revenue jump 86% to ₹1,122.36 crore. The Indian government's Revamped Distribution Sector Scheme (RDSS) is a significant catalyst for this growth, aiming to replace 250 million conventional meters with smart meters by 2028. This initiative, with a budget of INR 3 trillion, is the largest smart grid advancement globally and aims to reduce power theft and improve billing accuracy. Genus Power is a key player in this mission, with 10 million of its meters deployed under the RDSS across nine states. To meet the escalating demand, Genus Power has been actively expanding its manufacturing capabilities. The company has a new integrated facility in Kotputli, in addition to its plants in Jaipur, Haridwar, and Guwahati. In the first half of fiscal year 2026 alone, the company manufactured around 9 million meters, with a daily production rate of approximately 50,000 meters. This rapid expansion is not limited to India; Genus is also extending its footprint into markets across Africa, the Middle East, and Southeast Asia. The global smart meter market is projected to grow significantly, from around $29.54 billion in 2023 to $63.26 billion by 2032, and Genus is positioning itself to capture a share of this expanding international market. The company's leadership, including Chairman Ishwar Chand Agarwal and Managing Director & CEO Rajendra Kumar Agarwal, has been steering this strategic growth. Beyond electricity meters, Genus is also venturing into smart water and gas metering solutions, with commercialization expected in the coming years, signaling a diversification of its portfolio.
