Genus Power & Infrastructures, backed by Singapore's sovereign wealth fund GIC, is positioning itself to capture a significant portion of India's smart metering market opportunity. According to reports from Business Standard, the company currently holds a 30% share of the smart meter market and is targeting the ₹60,000 crore worth of currently active smart metering tenders in India. The company plans to install approximately 2.4 crore meters over the next two to three years, representing a substantial expansion from its current operations.
As reported by Business Standard, Genus Power has achieved significant milestones in the smart metering segment. The company has crossed 10 million meter installations and has deployed an additional 15 million smart meters through various Advanced Metering Infrastructure Service Providers (AMISPs) and utility partners. The company has secured orders for 3.62 crore meters to be installed and maintained over the next 10 years, demonstrating strong market confidence and execution capabilities.
According to Joint Managing Director J K Agarwal's statements to Business Standard, the Revamped Distribution Sector Scheme (RDSS) launched in July 2021 has significantly expanded the smart metering opportunity. India currently has 5.44 crore smart electricity meters installed as of January 15, 2026, with the government planning to install 25 crore smart meters across the country. Agarwal noted that 15 crore meters have already been floated and orders placed, leaving an additional 15-16 crore meters yet to be awarded, creating a clear opportunity for the next five to six years.
As reported by Business Standard, Genus Power delivered strong financial results for FY26, with revenue of ₹4,821 crore and profit of ₹592 crore, representing a 90% increase from the previous year. The company expects revenue to be in the range of ₹6,000-6,500 crore for the next financial year. Beyond electricity meters, the company also manufactures gas and water meters, producing 1.7 crore meters in the last financial year, with 8 million meters used for its own projects and around 7 million supplied to other AMISPs.
