The Revamped Distribution Sector Scheme (RDSS) can radically transform the energy metering industry, feels J.K. Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd.
In a statement announcing the company’s financial performance in Q2 (July to September) of FY23, Agarwal said, “We anticipate that the implementation of the Revamped Distribution Sector Scheme (RDSS) will result in a radical transformation of the Indian metering industry, resulting in a projected multi-fold increase in annual industry size. This will also result in a shift in the Indian metering industry from conventional to smart meters, allowing for higher operating margins.”
Sharing industry concerns, J.K. Agarwal observed that during Q2 of FY23, Genus Power Infrastructures continued to face supply chain issues for semiconductors and other essential electronic components, resulting in inadequate capacity utilization. “However, our operations are expected to pick up significantly in H2 of FY23,” he observed.
Smart meter leader
Genus Power Infrastructures has an estimated market share of 27 per cent in the domestic energy metering industry, and a very significant share of around 70 per cent in the smart meter segment. The company has a manufacturing capacity of over 10 million meters per year, and has so far installed over 70 million meters in India. The company, whose in-house R&D facilities are backed by Central government recognition, is an empanelled supplier with respect to over 40 domestic power utilities. The meter manufacturing facilities of Genus Power Infrastructures are spread over Jaipur (Rajasthan), Haridwar (Uttarakhand) and Guwahati (Assam).
Order book
As of September 30, 2022, the outstanding order book of Genus Power Infrastructures stood at Rs.1,761 crore, as against Rs.1,080 crore on March 31, 2022. Nearly all state power distribution utilities have issued requests and solicited bids for installation of smart meters, the company said in a release. This indicates that the RDSS is having a tangible effect, the release said.
Also read: RMC Switchgear Sees Good Business Opportunity In RDSS
Mega AMISP order
It may be recalled that in April 2022, Genus Power Infrastructures received the letter of award for its appointment as Advanced Metering Infrastructure Service Provider (AMISP) including design of AMI system with supply, installation and commissioning of about 10 lakh smart prepaid meters, distribution transformer (DT) meter level energy accounting and FMS (field management system) of these smart meters from a state utility. The total order, worth Rs. 828.57 crore (net of tax), is believed to be the single largest order finalized by any state utility in India for AMISP.
