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Genus Power Infrastructures Ltd Investor Presentation 2021
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Investor Presentation
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July 30, 2021
National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051.
(NSE Symbol: GENUSPOWER)
BSE Limited P.J. Towers, Dalal Street, Fort, Mumbai – 400001
(BSE Code: 530343)
Dear Sir/Madam,
Sub: Investor Presentation
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the Investor Presentation – July 2021.
We request to kindly take the same on record.
Thanking you,
Yours truly, For Genus Power Infrastructures Limited
Ankit Jhanjhari Company Secretary Encl. as above
Genus Power Infrastructures Limited (A Kailash Group Company) Corporate Identity Number L51909UP1992PLC051997
Corporate Office: SPL-3, RIICO Industrial Area, Sitapura, Tonk Road, Jaipur-302022, (Raj.), India T. +91-141-7102400/500 • F. +91-141-2770319, 7102503 E. [email protected] • W. www.genuspower.com
Registered Office:
G-123, Sector-63, Noida, Uttar Pradesh-201307 (India) T. +91-120-2581999 E. [email protected]
July
2021
Genus Power Infrastructures Limited
Corporate
Presentation
1
This presentation and the accompanying slides (the "Presentation"), by Genus Power Infrastructures Limited (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.
Q1 FY22: Performance Highlights
Key Highlights
Revenue for Q1Y22 was severely impacted as inspections were delayed on account of disruptions caused by second wave of COVID-19 - resulting in lower dispatches to SEBs
Higher employee expenses and steeper raw material prices resulted in lower operating margins
- Asia Pacific to supply 1.5 million Smart Meters
- Indigenously developed Vending Software AgrimTM accredited with STS certification
- In FY21, our team had won 7 Gold and 2 Silver awards at the "Quality Circle Forum of India" Haridwar Chapter, Delhi Chapter and Guwahati Chapter
Note: Cash PAT includes PAT + Depreciation + Deferred Tax
Genus Power Infrastructures Ltd (standalone entity)
Strengthening of Board of Directors
Mr. Subhash Chandra Garg
(Independent Director)
-
He was an IAS officer from the 1983 batch in Rajasthan cadre. He has served as Economic Affairs Secretary (July 2017-July 2019) and Finance Secretary of India in the Ministry of Finance and as Secretary, Ministry of Power (July 2019-October 2019)
-
His appointment provides an important layer of oversight which will help us further strengthen our internal controls, corporate governance and prepare for our next stage of growth
-
His appointment will strengthen our board and fortify our corporate policies with a commitment to maximize value for our shareholders.
-
He is an established and highly respected professional with over 25 years of global experience in the field of Smart Metering Technology and Product Development
-
He brings strong domain knowledge of smart metering businesses combined with a deep understanding of how new digital technologies are evolving
-
He will play a key role in building new platforms of growth, developing new product capabilities, expanding our international footprint and securing our long-term growth
Dr. Keith Mario Torpy
(Non-Executive, Non-Independent Director)
Performance Highlights For Last Few Quarters
Healthy Performance
Revenue (Rs. Crores)
We upgrade our technology and product offering at regular interval backed by continuous R&D
Strong Demand for various types of Meter across State Electricity Boards & Private Players
Genus uniquely positioned to suffice needs of the rising demand of Meters
Management Commentary
"Our operations in Q1FY22 were severely impacted as inspections were delayed on account of disruptions caused by second wave of COVID-19 - resulting in lower dispatches to SEBs. Lower absorption of fixed costs on account of muted operations also eroded our operating margins, which we expect will be back to earlier levels in the second half of this fiscal year. With rising relaxation of lockdown measures along with increasing vaccinations, our operations are expected to revive sharply over the coming months.
The new scheme i.e. 'Reforms-Based, Result-Linked Power Distribution Sector Scheme' that has been approved by the Government of India portents to significantly change the entire landscape of power sector in India – unlike earlier reform schemes – this scheme has been designed by consulting all stakeholders involved. Implementation of the Scheme would be based on the action plan worked out for each state rather than a "one-size-fits-all" approach. The Standard Bidding Documents has been made by taking inputs from across state DISCOMs, making the entire execution process more practical and easier to implement. It is becoming quite evident from the scale of tenders that have been floated recently, that various states are eager to implement this scheme thoroughly.
The Revamped Distribution Sector Scheme is being seen to address the core issues of billing-collection inefficiencies and pilferage that cripple the Indian power sector. The Scheme provides for annual appraisal of the DISCOM performance against predefined and agreed upon performance trajectories including AT&C losses, ACS-ARR gaps, infrastructure upgrade performance, consumer services, hours of supply, corporate governance, etc.
About half of the total funds of the scheme i.e. about Rs. 1.5 trillion are likely to be deployed for installation of smart meters. At the same time the 'Pay-as-you-save model' devised by IntelliSmart could be the game changer for Indian smart metering business, for it will lead to easier capex funding as well as lower working capital cycle for DISCOMs.
While in all 250 million Smart meters are planned to be installed during the scheme period of five years, priority would be given to install Smart Meters in a mission mode in the first phase in all Electricity Divisions of 500 AMRUT cities with AT&C Losses > 15%, all Union Territories, MSMEs and all other Industrial and Commercial consumers, all Government offices at Block level and above etc. The scheme proposesto install approximately 100 million Smart Meters by December 2023 in the first phase.
Considering the specialized nature of smart meter industry in India and an enormous market, we expect price realizations to remain healthy and the forthcoming period of 5 to 6 years to remain very favourable. Also, as a strategy we have designed our building and manufacturing infrastructure in a way, which will enable us to easily double our manufacturing capacity in short period of 6 months, whenever required.
As smart meters are high-end products (viz-a-viz conventional meters), the profitability is also better. And with end-clients increasingly requesting for end-to-end solutions with Facility Management Services (FMS) leads to increased incentive of recurring revenue. We expect the FMS component of our revenue to constitute about 8 to 10% of our total revenue, in foreseeable future."
8 Mr. Jitendra Kumar Agarwal, Joint Managing Director
| Particulars (Rs. Crores) | Q1FY22 | Q1FY21 | YoY | FY21 | FY20 | YoY |
|---|---|---|---|---|---|---|
| Total Revenue | 130.4 | 84.0 | 55.2% | 608.6 | 1,060.4 | -42.6% |
| Cost of Material Consumed | 79.8 | 54.0 | 350.2 | 664.0 | ||
| Employee Expenses | 25.9 | 20.7 | 87.8 | 108.7 | ||
| Other Expenses | 19.6 | 11.0 | 68.6 | 114.9 | ||
| EBITDA | 5.1 | -1.7 | N.A. | 101.9 | 172.7 | -41.0% |
| EBITDA (%) | 3.9% | N.A. | 16.7% | 16.3% | ||
| Other Income | 5.7 | 8.7 | 26.7 | 19.1 | ||
| Depreciation | 5.1 | 5.4 | 21.8 | 22.2 | ||
| EBIT | 5.7 | 1.6 | 106.9 | 169.7 | -37.0% | |
| EBIT (%) | 4.4% | 2.0% | 17.6% | 16.0% | ||
| Finance Cost | 5.7 | 6.8 | 24.5 | 32.7 | ||
| Profit before Tax | 0.1 | -5.2 | N.A. | 82.4 | 137.0 | -39.8% |
| Tax | 0.0 | -1.8 | 31.3 | 43.3 | ||
| Profit after Tax | 0.1 | -3.4 | N.A. | 51.2* | 93.7 | -45.4% |
| PAT (%) | 0.0% | N.A. | 8.4% | 8.8% | ||
| Cash PAT** | 4.5 | 2.0 | 74.1 | 110.7 | -33.1% | |
| Cash PAT (%) | 3.5% | 2.4% | 12.2% | 10.4% | ||
| EPS (in Rs.) | 0.00 | -0.13 | 1.99 | 3.64 |
***Inclusive of Rs. 10.89 crore of reversal of excess tax provisions done by the company in previous period
**Cash PAT includes PAT + Depreciation + Deferred Tax.
| ASSETS (Rs. Crores) | Mar-21 | Mar-20 | EQUITY AND LIABILITIES(Rs. Crores) | Mar-21 | Mar-20 |
|---|---|---|---|---|---|
| Non-current assets | Equity | ||||
| Property, plant and equipment | 146.0 | 156.2 | Equity share capital | 25.7 | 25.7 |
| Capital work-in-progress | 0.1 | 0.8 | Other equity | 908.8 | 859.5 |
| Right of Use Assets | 15.0 | 15.8 | Total equity | 934.5 | 885.3 |
| Intangible assets | 1.6 | 1.3 | |||
| Investment in Associates | 16.5 | 15.9 | Non-current liabilities | ||
| Financial assets | Financial liabilities | ||||
| Investments | 78.0 | 76.2 | Borrowings | 7.5 | 23.3 |
| Loans | 28.8 | 28.7 | Lease liabilities | 0.0 | 0.3 |
| Others | 13.7 | 25.6 | Other financial liabilities | 9.1 | 11.0 |
| Non-financial assets | 8.1 | 11.6 | Provisions | 35.0 | 33.4 |
| Deferred tax assets (net) | 3.3 | 19.9 | Government grants | 3.9 | 4.6 |
| Net employee defined benefit liabilities | 0.8 | 1.5 | |||
| Sub-total -Non-Current Assets | 311.2 | 352.1 | Sub-total -Non-current liabilities | 56.4 | 74.1 |
| Current assets | Current liabilities | ||||
| Inventories | 177.9 | 151.2 | Financial liabilities | ||
| Financial assets | Borrowings | 187.0 | 223.9 | ||
| Investments | 134.8 | 102.6 | Trade payables | 166.0 | 200.4 |
| Investment in trust | 60.0 | 60.0 | Lease liabilities | 0.4 | 0.8 |
| Loans | 0.9 | 1.4 | Other liabilities | 13.2 | 10.3 |
| Trade receivables | 565.4 | 629.2 | Government grants | 0.7 | 0.7 |
| Cash and cash equivalents | 64.1 | 71.6 | Net employee defined benefit liabilities | 2.0 | 2.2 |
| Other bank balances | 50.6 | 34.4 | Current tax liabilities (net) | 2.7 | 2.8 |
| Other financial assets | 6.2 | 7.2 | Provisions | 12.4 | 12.5 |
| Non-financial assets | 24.8 | 29.8 | Non-financial liabilities | 20.3 | 26.5 |
| Sub-total -Current Assets | 1,084.5 | 1,087.3 | Sub-total -Current liabilities | 404.8 | 480.0 |
| TOTAL -ASSETS | 1,395.7 | 1,439.3 | TOTAL -EQUITY AND LIABILITIES | 1,395.7 | 1,439.3 |
Business Overview
Over 2 decades of experience in electricity metering solutions
Incorporated in 1992, Part of $400 mn Kailash Group
- Largest player in India's electricity meter industry
- ~27% market share in Meter Industry
- ~70% market share in Smart Meters
- Share of Metering Projects increasing
Annual Production capacity of 10 mn+ meters
65 mn+ Meters installed
industry
Capability to undertake turnkey power projects up to 400 KV
| Production ofElectronic EnergyMetersEstablished Single& Three PhaseElectronic EnergyMetersMulti-functional &Multi-tariffMeters launched1996 -1999 | AMR / Prepayment Meter/DT Meter launchedVentured intoPower DistributionManagementProjectsManufacturingfacility at Haridwarcommissioned2005 -2009 | Deployed SmartMetering Solution atShapur(Junagarh)PGVCL –India's FirstSmart Village ProjectImplemented India'sfirst End to End SmartMetering Solution atKala AmbHPSEB'sSmart Grid Pilot Projectwith Alstom2014 -2016 | India's First Narrowband-IOT setup for AMI withVodafone IdeaAmong theTop10Global AMICompaniesas per IHSMarkit'sElectricityMeters Report–Edition2018Smart Meter Integratedline getting operational2018 -2019 | |
|---|---|---|---|---|
| 1992 -1995•Company foundedfor manufacturingThick Film HybridMicrocircuits & SMTPCB Assemblies•First Productionfacility set up inSitapura, Jaipur | 2000 -2004R&D recognized byGovernment ofIndiaLeanManufacturingwith help of TBMconsultants, USAIncreased productrange of electronicenergy meters | 2010 -2013Launched meterwith integratedAPFC, SmartMeters, smartstreet lightmanagementsystem, GroupMetering etc | 2017 -2018Intelligent GroupMetering systemsdeployed at BSESSmart Meters orderfrom EESL for supplyof 13.5 lakh metersOnly Indian companyto receive BIScertification forSmart MetersSet up andCommencedproduction at Assam | 2020 -2021Became the Firstcompany in AsiaPacific to supply 1.5million Smart MetersIndigenouslydeveloped VendingSoftware AgrimTMaccredited with STScertification |
plant
Mr. Ishwar Chand Agarwal Executive Chairman
Mr. Kailash Chandra Agarwal Vice-Chairman, Non-Executive, Non-Independent
Mr. Rajendra Kumar Agarwal Managing Director and CEO
Mr. Jitendra Kumar Agarwal Joint Managing Director
Dr. Keith Mario Torpy
Non-Independent Director
Non-Executive,
Mr. Subhash Chandra Garg Independent Director
Dr. Giriraj Nyati COO - Metering Solution
Mr. R Viswanathan Chief Management Representative
Mr. N L Nama Chief Financial Officer
Dr. Anukram Mishra Chief Technical Officer
Mr. Ranvir Singh Rathore Senior VP – Domestic Marketing and Sales
SMART METERING SOLUTIONS
- Offers a wide spectrum of Smart Metering Solutions, that includes High End Multifunction Single Phase and Three Phase Meters, CT Operated Meters & HES (Head End System), ABT & Grid Meters, Distribution Transformer (DT Meters), Pre-payment Meters, Group Metering, Smart Street Light Management Solution, Net- Metering Solution for rooftop Solar, Data Concentrator, Energy Management solution for Building Management and DC Metering Solution, Gas Meter etc
- Genus specializes in providing end-to-end metering solutions (AMI) with communication modules and software under its Smart Energy Management Solution
ENGINEERING, CONSTRUCTIONS AND CONTRACTS (ECC)
- Customized and turnkey (ECC) solutions to the Power Transmission and Distribution (T&D) sector
- Under the turnkey ECC solutions, Genus offers One Stop Total Solution of Metering, Engineering & Construction from 'Concept to Commissioning' with distinctive specialization in Smart Metering Solution & Advance Metering Infrastructure
End to End Energy Management Solutions
Smart Street Light Management System
Group Metering
- ABT Meter
- Smart High end Meters
- Single Phase Prepayment Meter
- Three Phase Prepayment Meter
- Dual prepayment Solution
- DIN Rail Prepayment Meter
- Prepaid Vending Software
- On-Line "Pre-paid" Metering Solution
- Thread Through Metering Solution for Distribution Transformer
- Smart DT Meter with Integrated Communication
- Single Phase Portable Reference Meter
- Three Phase Portable Reference Meter
-
Provides total engineering and construction solution from "Concept to Commissioning"
-
Offers turnkey solutions of MV, HV & EHV sub-stations & transmission lines and execute turnkey jobs up to 420 KV
-
More than 20 years of experience in Indian Power distribution sector
-
Engineered Energy meter solutions backed up with in-house R&D and technological prowess
ECC Division Leveraging on Strength Complements the Metering Business
- Increased implementation of Smart metering solution
- Higher sales growth under metering division
- Margin expansion
- Gain Market share
Current Projects under implementation
Design, engineering, supply of equipments for Substation, Transmission Line and associated system for construction of 220 KV Substation at Chhatti Bariatu, 33 KV Substation at Kerandari, 33 KV D/C Line from Chhatti Bariatu to Kerendari, 200 KV D/C Line from Pakri Barwadih to Chhatti Bariatu and from Patratu to Pakri Barwadih along with installation of DG Sets (NTPC-Jharkhand)
Genus Power would benefit from the GOI's plan to reduce T&D losses in coming years
SEB's registered under UDAY schemes are the major revenue contributors
R&D Centre and Corporate Office, Sitapura, Jaipur Ramchandrapura, Jaipur
Haridwar, Uttaranchal Haridwar, Uttaranchal
Guwahati, Assam
In-House NABL Accredited Electronic Energy Meter Testing Laboratories
A series of reliability tests are conducted periodically both on in-house reliability chambers and from NABL approved outside test labs, to establish a satisfactory life of the product in the hands of the customer.
Quality is the hallmark of Genus products and services
Comprehensive testing is carried out at various stages of product manufacturing starting from incoming raw material/components to in-process stages and to the final finished and packed product
STS certification
Veritas
KEMA Certification R&D Lab recognized by MSD, GOI Silver Certificate by Frost & Sullivan
QSI Certification Bureau
National Accreditation Board for Testing and Calibration Laboratories
ZigBee Certification
IEC Certifications
DLMS Certification for Meters IECQ for quality of components C-DOT Certifications STQC Certifications EMC Certifications
Awarded various national and international quality accreditations such as various 'ISO' marks, OHSAS 18001 'BIS', NABL, 'STS', 'EMC', 'ISI', 'S' mark, etc.,
Infrastructure & Testing Capabilities
2004:
Rated among top 100 Electronic companies in India by EFY
2011:
Outstanding performance award by NDPL towards AT&C loss reduction
2013:
The prestigious EFY Reader's choice top 5 brands
2015:
Accorded Excellence in Quality by Golden Peacock National Quality Awards, 2015
2015:
"Silver Certificate of Merit" by Frost & Sullivan's India Manufacturing Excellence Awards 2015
2018:
The Global Center of Excellence at Jaipur for the successful testing & integration of Genus Smart Electricity Meter Solution in the Living Lab in Jaipur
Quality team won 7 Gold & 3 Silvers in 32nd National Convention Quality Circle Awards organised by "Quality Circle Forum of India" at Gwalior & Haridwar
2019-20:
"Best Innovation Award" and "Brand Ambassador 2020 Award" by Alleem Business Congress, UAE
Ranked among "Top 25 Most Trusted Manufacturing Companies in India" by the CEO Magazine
2019-20:
Recognition from CESC for "Active Involvement in Development of Smart Meters" Our Multiple Team won 17 Awards (11 Gold ; 04 Silver; 02 Bronze) in Lucknow Center Convention, Haridwar Center Convention and Kaizen Competition on Quality Circle Forum of India
Business Outlook
AT&C Losses in India are Three Times the Deficit
AT&C Loss = (Energy input – Energy billed) * 100 / Energy input
- At present, India loses around 30% of its power generated due to transmission, distribution, billing generation and collection inefficiencies
- Theft is the one of the main causes of the high losses. Theft occurs in several ways, viz: by tapping power lines and tempering / by-passing meter etc
- Meters play a vital role in reduction of AT&C Losses
- Replacement of defective meters by tamper proof electronic meters / smart meters
- AMI / Smart metering to the consumer for reduction of commercial losses and billing and collection ease
- Smart meter has the following capabilities:
- Smart Meters and AMI Meters have communication capability
- It can register real time or near real time consumption of electricity or export both.
- Read the meter both locally or remotely
- Remote connection or disconnection of electricity
- Remote communication facilities through GSM / GPRS / RF etc
- India can save Rs. 9.5 lakh crore by investing Rs 1.25 lakh crore for replacing 25 crore conventional meters with smart meters
Reforms-Based, Result-Linked Power Distribution Sector Scheme
same attention in planning, implementation and regulation
Stringent Qualification Criteria & State-specific Interventions
Tripartite Agreements DISCOMs would need approvals from their state cabinets to become part of the scheme Tripartite agreements between states, DISCOMs and nodal agencies for the scheme will be signed DISCOMs have been asked to submit their applications with loss reduction plans to the Union Power Ministry by October 31, 2021 Qualification Criteria To qualify for the scheme, DISCOMs will have to: • publish quarterly unaudited accounts in 60 days of the end of each quarter • ensure no new regulatory assets have been created • state governments have paid subsidy in full government bodies have paid bills Fund Disbursement Funds under the scheme will be released to DISCOMs on meeting pre-qualifying criteria as well as upon achievement of basic minimum benchmarks evaluated on the basis of agreed evaluation framework tied to financial improvements DISCOMs will have to score a minimum 60 marks on the evaluation matrix to be eligible for fund release each year Different from Earlier Schemes Implementation of the Scheme would be based on the action plan worked out for each state rather than a "one-size-fits-all" approach State-wise Evaluation Evaluation framework for the scheme will be formulated based on the agreed action plan for each individual state Reforms Based Union Power Ministry has suggested an indicative list of reforms to be covered by the DISCOMs under the scheme Base Year for Evaluation The base year for evaluation will be 2019-20 while trajectories will be set for 2021-22 to 2025-26 across various parameters
Funding for Metering
For metering, DISCOMs will be allowed to claim the grant funds in phased manner for every 5% of meters commissioned against total number of meters awarded
Evident from the scale of tenders that have been floated recently, that various states are eager to implement this Scheme thoroughly
Other Key Condition for Funding
Under the five-year program, if a DISCOM is found ineligible for the reforms-based, results-linked scheme for financial assistance in any year, then the gap in funding to complete its projects will have to be met by the DISCOM or its state government
However, the unmet targets for one year will get added to the targets for the next year
IntelliSmart Infrastructure Private (IntelliSmart)
4
6
EESL, along with the National Investment and Infrastructure Fund (NIIF), has formed a JV − IntelliSmart Infrastructure Private (IntelliSmart) − to implement the smart meter roll-out programme of power distribution companies
IntelliSmart operates on OpEx model, which is a typical build-operatetransfer (BOT) model – where in they undertake the capex and install the smart meters without charging any money to DISCOMs
Once the meters are commissioned the utilities start saving on the AT&C losses to the tune of Rs. 225 per meter per month on an average. IntelliSmart charges anywhere between Rs. 75- 100 per meter per month 3
Source: Various Articles
1
2
So, these smart meters become an instrument of pay as you save. Under this model the DISCOMs are not investing anything. DISCOMs pay the fees through savings they make
Currently, DISCOMs are pre-dominantly employing the capex model that is not efficient. As they set up few thousand meters on capex mode, it takes away their valuable funds that can be invested into network correction 5
IntelliSmart is proactively canvassing 'Pay-asyou-save model' in order to break the inertia of DISCOMs who are resisting the adoption of OpEx model. The investment is done by IntelliSmart that is backed by sovereign wealth fund NIIF
As per the, notification by power ministry, dated 8th September 2016 :
- Mandatory rollout of Smart Meters, for consumers with monthly consumption of 500 units and more
- Mandatory rollout of Smart Meters, for consumers with monthly consumption of 200 units and more
- Current Power minister Mr R. K. Singh has extended deadline to end of FY22
METERING OPPORTUNITY
- India has 250 million legacy meters
- There are plans to install up to 130 million smart meters by 2021
GOVERNMENT INVESTMENT
- The government is planning to invest up to $21 billion till 2025 in smart grid technologies
- The smart cities initiative is targeting 100+ cities in India, out of which 20 have been declared and work for them will start in the next month or two
- More than 14 smart grid pilots have been launched in cities across India, to push smart solutions in Power Generation & Distribution Industry
Latching Switch
Smart meters will have a kill switch which will close off the utility supply. The kill switch will be operated via Internet. This will give power to utility providers to start and stop the supply at the click of a button
Increased customer involvement
As all the data collected will be uploaded on the Internet the customers will be able to access it using their smart phones application. This will give them a clear idea about daily, hourly and even per-minute consumption, and how it is billed
Prepaid Schemes
Customers will be able to recharge their meters to the amount of energy usage and consume only that much. As the meters are smart, they will remind the consumer when the balance is running low, or when a larger than normal chunk is being used. This will help consumers save money, and take the load of billing off the local body
Consumption Patterns
As consumers will be able to access the data on their mobile phones / tablets / PCs, they will be able to cut their expenses using simple strategies. For example not using water heaters or electric irons during peak hour
What are Smart Meters ?
Smart meters are remarkably different from electronic meters. While electronic meters only measure the amount of utility used, a smart meter is used to measure the utility and then transmit the reading without any human intervention
- Allowing utilities to introduce different prices for different consumption during different season
- Control devices with two-way communication between the meter and the central system
Geared to Ride the Growth Wave
First Indian Company to get BIS Certificate for Smart Meters
Financial Performance
93 FY17 FY18 FY19 FY20 FY21
| Particulars (Rs. Crores) | Q1FY22 | Q1FY21 | YoY | FY21 | FY20 | YoY |
|---|---|---|---|---|---|---|
| Total Revenue | 130.4 | 84.0 | 55.2% | 608.6 | 1,060.4 | -42.6% |
| Cost of Material Consumed | 79.8 | 54.0 | 350.2 | 664.0 | ||
| Employee Expenses | 25.9 | 20.7 | 87.8 | 108.7 | ||
| Other Expenses | 19.6 | 11.0 | 68.6 | 114.9 | ||
| EBITDA | 5.1 | -1.7 | N.A. | 101.9 | 172.7 | -41.0% |
| EBITDA (%) | 3.9% | N.A. | 16.7% | 16.3% | ||
| Other Income | 5.7 | 8.7 | 26.7 | 19.1 | ||
| Depreciation | 5.1 | 5.4 | 21.8 | 22.2 | ||
| EBIT | 5.7 | 1.6 | 106.9 | 169.7 | -37.0% | |
| EBIT (%) | 4.4% | 2.0% | 17.6% | 16.0% | ||
| Finance Cost | 5.7 | 6.8 | 24.5 | 32.7 | ||
| Profit before Tax | 0.1 | -5.2 | N.A. | 82.4 | 137.0 | -39.8% |
| Tax | 0.0 | -1.8 | 31.3 | 43.3 | ||
| Profit after Tax | 0.1 | -3.4 | N.A. | 51.2* | 93.7 | -45.4% |
| PAT (%) | 0.0% | N.A. | 8.4% | 8.8% | ||
| Cash PAT** | 4.5 | 2.0 | 74.1 | 110.7 | -33.1% | |
| Cash PAT (%) | 3.5% | 2.4% | 12.2% | 10.4% | ||
| EPS (in Rs.) | 0.00 | -0.13 | 1.99 | 3.64 |
***Inclusive of Rs. 10.89 crore of reversal of excess tax provisions done by the company in previous period
**Cash PAT includes PAT + Depreciation + Deferred Tax.
| ASSETS (Rs. Crores) | Mar-21 | Mar-20 | EQUITY AND LIABILITIES(Rs. Crores) | Mar-21 | Mar-20 |
|---|---|---|---|---|---|
| Non-current assets | Equity | ||||
| Property, plant and equipment | 146.0 | 156.2 | Equity share capital | 25.7 | 25.7 |
| Capital work-in-progress | 0.1 | 0.8 | Other equity | 908.8 | 859.5 |
| Right of Use Assets | 15.0 | 15.8 | Total equity | 934.5 | 885.3 |
| Intangible assets | 1.6 | 1.3 | |||
| Investment in Associates | 16.5 | 15.9 | Non-current liabilities | ||
| Financial assets | Financial liabilities | ||||
| Investments | 78.0 | 76.2 | Borrowings | 7.5 | 23.3 |
| Loans | 28.8 | 28.7 | Lease liabilities | 0.0 | 0.3 |
| Others | 13.7 | 25.6 | Other financial liabilities | 9.1 | 11.0 |
| Non-financial assets | 8.1 | 11.6 | Provisions | 35.0 | 33.4 |
| Deferred tax assets (net) | 3.3 | 19.9 | Government grants | 3.9 | 4.6 |
| Net employee defined benefit liabilities | 0.8 | 1.5 | |||
| Sub-total -Non-Current Assets | 311.2 | 352.1 | Sub-total -Non-current liabilities | 56.4 | 74.1 |
| Current assets | Current liabilities | ||||
| Inventories | 177.9 | 151.2 | Financial liabilities | ||
| Financial assets | Borrowings | 187.0 | 223.9 | ||
| Investments | 134.8 | 102.6 | Trade payables | 166.0 | 200.4 |
| Investment in trust | 60.0 | 60.0 | Lease liabilities | 0.4 | 0.8 |
| Loans | 0.9 | 1.4 | Other liabilities | 13.2 | 10.3 |
| Trade receivables | 565.4 | 629.2 | Government grants | 0.7 | 0.7 |
| Cash and cash equivalents | 64.1 | 71.6 | Net employee defined benefit liabilities | 2.0 | 2.2 |
| Other bank balances | 50.6 | 34.4 | Current tax liabilities (net) | 2.7 | 2.8 |
| Other financial assets | 6.2 | 7.2 | Provisions | 12.4 | 12.5 |
| Non-financial assets | 24.8 | 29.8 | Non-financial liabilities | 20.3 | 26.5 |
| Sub-total -Current Assets | 1,084.5 | 1,087.3 | Sub-total -Current liabilities | 404.8 | 480.0 |
| TOTAL -ASSETS | 1,395.7 | 1,439.3 | TOTAL -EQUITY AND LIABILITIES | 1,395.7 | 1,439.3 |
Consolidated Profit & Loss Statement
| Particulars (Rs. Crores) | FY21 | FY20 | Y-o-Y |
|---|---|---|---|
| Total Revenue | 608.6 | 1,060.4 | -43% |
| Cost of Material Consumed | 350.2 | 664.0 | |
| Employee Expenses | 87.8 | 108.7 | |
| Other Expenses | 68.6 | 132.1 | |
| EBITDA | 101.9 | 155.5 | -34% |
| EBITDA (%) | 16.7% | 14.7% | |
| Other Income | 45.3 | 16.1 | |
| Depreciation | 21.8 | 22.2 | |
| EBIT | 125.5 | 149.5 | -16% |
| EBIT (%) | 20.6% | 14.1% | |
| Finance Cost | 24.5 | 32.7 | |
| Profit before Tax | 101.0 | 116.8 | -14% |
| Tax | 31.3 | 43.3 | |
| Profit before Associate | 69.7 | 73.5 | -5% |
| PAT % | 11.5% | 6.9% | |
| Profit / Loss of Associates | -1.1 | -0.9 | |
| Profit after Tax | 68.6* | 72.6 | -6% |
| PAT (%) | 11.3% | 6.9% | |
| Cash PAT** | 91.5 | 89.6 | 2% |
| Cash PAT (%) | 15.0% | 8.5% | |
| EPS (in Rs.) | 2.98 | 3.16 |
***Inclusive of Rs. 10.89 crore of reversal of excess tax provisions done by the company in previous period
**Cash PAT includes PAT + Depreciation + Deferred Tax.
Consolidated Balance Sheet
| ASSETS (Rs. Crores) | Mar-21 | Mar-20 | EQUITY AND LIABILITIES(Rs. Crores) | Mar-21 | Mar-20 |
|---|---|---|---|---|---|
| Non-current assets | Equity | ||||
| Property, plant and equipment | 146.0 | 156.2 | Equity share capital | 23.0 | 23.0 |
| Capital work-in-progress | 0.1 | 0.8 | Other equity | 881.6 | 814.9 |
| Right of Use Assets | 15.0 | 15.8 | Total equity | 904.6 | 837.9 |
| Intangible assets | 1.6 | 1.3 | |||
| Investment in Associates | 12.9 | 13.5 | Non-current liabilities | ||
| Financial assets | Financial liabilities | ||||
| Investments | 78.0 | 76.2 | Borrowings | 7.5 | 23.3 |
| Loans | 28.8 | 28.7 | Lease liabilities | 0.0 | 0.3 |
| Others | 13.7 | 25.6 | Other financial liabilities | 9.1 | 11.0 |
| Non-financial assets | 8.1 | 11.6 | Provisions | 35.0 | 33.4 |
| Deferred tax assets (net) | 3.3 | 19.9 | Government grants | 3.9 | 4.6 |
| Net employee defined benefit liabilities | 0.8 | 1.5 | |||
| Sub-total -Non-Current Assets | 307.6 | 349.6 | Sub-total -Non-current liabilities | 56.4 | 74.1 |
| Current assets | Current liabilities | ||||
| Inventories | 177.9 | 151.2 | Financial liabilities | ||
| Financial assets | Borrowings | 187.0 | 223.9 | ||
| Investments | 168.3 | 117.6 | Trade payables | 166.0 | 200.4 |
| Investment in trust | 0.0 | 0.0 | Lease liabilities | 0.4 | 0.8 |
| Loans | 0.9 | 1.4 | Other liabilities | 13.2 | 10.3 |
| Trade receivables | 565.4 | 629.2 | Government grants | 0.7 | 0.7 |
| Cash and cash equivalents | 64.1 | 71.6 | Net employee defined benefit liabilities | 2.0 | 2.2 |
| Other bank balances | 50.6 | 34.4 | Current tax liabilities (net) | 2.7 | 2.8 |
| Other financial assets | 6.2 | 7.2 | Provisions | 12.4 | 12.5 |
| Non-financial assets | 24.8 | 29.8 | Non-financial liabilities | 20.3 | 26.5 |
| Sub-total -Current Assets | 1,058.1 | 1,042.3 | Sub-total -Current liabilities | 404.8 | 480.0 |
| TOTAL -ASSETS | 1,365.7 | 1,391.9 | TOTAL -EQUITY AND LIABILITIES | 1,365.7 | 1,391.9 |
Genus Power Infrastructures Limited CIN: L51909UP1992PLC051997
Mr. Ankit Jhanjhari [email protected]
Strategic Growth Advisors Pvt. Limited CIN: U74140MH2010PTC204285
Mr. Shogun Jain / Mr. Parin Narichania [email protected] / [email protected]
