Genus Power Infrastructures Ltd

Business model has undergone a transformative shift

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The business model has undergone a transformative shift. Historically, Genus was a pure meter manufacturer selling hardware to DISCOMs. Under the AMISP model, it takes on the full project lifecycle: financing, manufacturing, installing, and operating smart meters for 10 years under an OpEx-based contract. The DISCOM pays per meter per month for the service creating annuity-like revenue.

This transforms lumpy hardware revenues (₹800–1,000 per meter, one-time) into sticky long-term cash flows (₹30–50 per meter per month × 10 years). With 9.1 crore meters deployed and targeting 18 crore by FY26, the recurring monthly OpEx revenue building up behind the current project execution is the business's hidden long-term asset.