CRISIL Ratings assigns 'AA-' rating to Genus Power' debt instruments with 'stable' outlook

CRISIL Ratings stated that the ratings assigned reflect the established presence of the group in the smart metering industry with strong executional capabilities, significant outstanding orders providing revenue visibility, financial flexibility with presence of GIC and changing customer profile leading to expectation of improvement in working capital profile.

These strengths are partially offset by the investment requirement in under implementation portfolio and susceptibility to volatility in the prices of input materials.

Genus Power Infrastructures manufactures electric meters, gas meters and smart meters. It has manufacturing facilities in Jaipur, Haridwar and Guwahati with total capacity of 1.2 crore meters per annum.

The scrip rose 0.57% to currently trade at Rs 426 on the BSE.