Credit rating agency, Fitch Ratings has affirmed India-based Genus Power Infrastructures’ (GPIL) Long-Term bank facilities rating at ‘Fitch A-(ind)’with stable outlook. A list of additional rating actions is provided at the end of the commentary.
The affirmations reflect the company’s stable growth, strong margins and its entrenched position in the domestic electronic meters segment. The ratings also reflect the company's strong Rs 540 crore order book at end-FY11. Fitch notes that GPIL also stands to benefit from the large investments lined up in the transmission and distribution space through the Rajeev Gandhi Grameen Vidyutikaran Yojana and Restructured-Accelerated Power Development and Reforms Programme.
Genus Power Infrastructure is mainly engaged in designing and manufacturing of equipments for power sector. It manufactures high-end programmable multi-functional intelligent Metering Systems, Inverters, Solar Inverters, UPS and Batteries. Genus also undertakes turnkey projects in the power transmission and distribution sector scaling up its operations from meter to metering where it provides complete solutions for power distribution system.