The board of Genus Power Infrastructures Limited, India’s largest maker of smart electricity meters by its own account, on 26 October 2026 approved a buyback of up to 47,50,000 equity shares at ₹312 each, worth up to ₹148.20 crore. The company proposes to buy the shares from all shareholders on a proportionate basis through the tender offer route, with Friday, 30 October 2026, as the record date. The buyback comes as Genus executes a smart metering order book of about ₹24,020 crore at 30 June 2026.
Key Details of the Buyback
According to Genus Power’s Regulation 30 disclosure to the stock exchanges, the terms are:
- Size: up to ₹148.20 crore, excluding transaction costs such as brokerage, taxes, stamp duty and advisers’ fees
- Price: ₹312 per equity share of face value ₹1, payable in cash
- Shares: up to 47,50,000, or up to 1.56% of the total paid-up equity share capital
- Size relative to capital and free reserves: 6.77% on the latest audited standalone accounts and 6.72% on the consolidated accounts
- Record date: Friday, 30 October 2026
The board meeting began at 3.00 pm and ended at 3.45 pm. The board has set up a buyback committee and delegated its powers to it. Until one working day before the record date, the board or the committee may raise the buyback price and cut the number of shares, provided the total size stays the same. IIFL Capital Services Limited is the manager to the buyback, and Joint Company Secretary Puran Singh Rathore is the compliance officer for it. The company said the public announcement, with the process and timelines, will be released in due course. The filing does not say whether the promoters intend to tender their shares.
Shareholding Before the Buyback
As of 23 October 2026, Genus Power had 30,42,42,615 equity shares held by 1,77,407 shareholders. The promoter and promoter group held 39.34%, foreign investors 6.91% and mutual funds and alternative investment funds 4.74%. Public shareholders, bodies corporate and others held 49.01%. The company said it will disclose the post-buyback shareholding once the buyback is complete.
Financial Position
Genus Power’s FY26 standalone revenue rose 94.0% to ₹4,737.5 crore, and profit after tax from continuing operations rose 106.5% to ₹605.0 crore. In the quarter ended 30 June 2026 (Q1 FY27), standalone revenue rose 44.8% to ₹1,364.9 crore from ₹942.4 crore, and profit after tax rose to ₹162.8 crore from ₹128.5 crore. The margin on earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 19.1% from 21.2%, which the company attributed to higher raw material costs amid supply disruptions linked to the West Asia crisis.
Genus Power has not yet reported its results for the July–September quarter (Q2 FY27). The buyback filing does not give a reason for the buyback or say how it will be funded.
Management Comment
The 26 October filing carries no management comment. In the company’s Q1 FY27 release, Joint Managing Director Jitendra Kumar Agarwal said Genus Power was confident of meeting its FY27 revenue guidance of ₹6,000–6,500 crore. Agarwal said the company aims to install at least 1 crore smart meters in FY27, supported by annual manufacturing capacity of over 1.8 crore meters. He said that, with all projects having achieved operational go-live, the company expects working capital needs to ease and operating cash flow to turn positive from FY28.
Policy Backdrop
Genus Power’s growth has come from smart metering projects for state electricity utilities. In its FY26 release, the company said it saw accelerated execution across multiple projects under the Revamped Distribution Sector Scheme (RDSS). Genus works as an Advanced Metering Infrastructure Service Provider (AMISP) under the total expenditure (TOTEX) model, delivering utility projects with integrated hardware, software, infrastructure and operational services. The company says these concessions run for 8–9 years. In its Q1 FY27 release, it said 31–32 crore electricity meters are expected to move to smart meters, with about 8–9 crore expected to be tendered in FY27.
About Genus Power
Genus Power, part of the Kailash Group, has its registered office in Noida and its corporate office in Jaipur. It makes smart meters for electricity, gas and water, and runs manufacturing plants in Jaipur, Haridwar and Guwahati. It also offers head-end systems, meter data management software and mobile applications for utilities.
Recent Developments
According to the company’s stock exchange disclosures in 2026:
- January 2026: Set a record date for the demerger of its Strategic Investment Business into Genus Prime Infra Limited.
- May 2026: Reported FY26 results with an order book of about ₹25,173 crore at 31 March 2026, net of taxes. Appointed Vinod Raheja as Chief Financial Officer from 18 May 2026.
- August 2026: Reported Q1 FY27 results and an order book of about ₹24,020 crore at 30 June 2026, excluding taxes, including all special purpose vehicles and its GIC platform.
Outlook
The public announcement and other buyback documents, which the company said will be released in due course, will set out the process and timelines for tendering. Genus Power’s Q2 FY27 results will show installation progress before the second half of the year, when the company expects momentum to strengthen. It has said operations and maintenance revenue should become meaningful from FY28, at a potential ₹600–700 crore.
Official Sources
- Genus Power Infrastructures Limited – Outcome of board meeting: buyback of equity shares through tender offer (NSE, 26 October 2026): https://nsearchives.nseindia.com/corporate/GENUSPOWER_26102026183828_Outcome_signed_Final.pdf
- Genus Power Infrastructures Limited – Record date for buyback, 30 October 2026 (NSE, 26 October 2026): https://nsearchives.nseindia.com/corporate/GENUSPOWER_26102026184906_Record_Date_signed.pdf
- Genus Power Infrastructures Limited – Press release: Q1 FY27 results (NSE, 14 August 2026): https://nsearchives.nseindia.com/corporate/GENUSPOWER_14082026165427_Press_Release_Signed.pdf
- Genus Power Infrastructures Limited – Press release: Q4 and FY26 results (NSE, 19 May 2026): https://nsearchives.nseindia.com/corporate/GENUSPOWER_19052026093441_Press_Release_Signed.pdf
- Genus Power Infrastructures Limited – Outcome of board meeting: appointment of Chief Financial Officer (NSE, 16 May 2026): https://nsearchives.nseindia.com/corporate/GENUSPOWER_16052026183020_BM_Outcome_signed.pdf
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