Retail investors often closely track experienced investor Madhusudhan Kela’s investment decisions as his portfolio reflects high-conviction bets on emerging opportunities. He is known for his preference for long-term investment opportunities across sectors. His investment decisions are mostly based on the long-term growth potential of the businesses rather than short-term momentum.
His latest portfolio addition perhaps indicates the same.
Madhusudhan Kela bought 13.8 lakh shares of Genus Power Infrastructure Limited in a block deal on 30 June 2026. This is around a 0.45% stake in the company, worth ₹40 crores. The purchase was made in the name of Madhuri Madhusudan Kela.
This block deal happened as Chiswick Investment Pte Ltd. sold 1.03 crore shares of the company.
Apart from Madhusudhan Kela, there were three foreign institutional investors (FIIs) who also bought significant shares of the company in block deals on the same day. This includes Buoyant Opportunities Strategy Fund and Buoyant Opportunities Strategy -III Fund. Profitex Shares & Securities Pvt. Ltd. also bought a significant stake comprising 44.8 lakh shares in a block deal on the same day.
Coming back to veteran investor Madhusudhan Kela, this investment decision is perhaps driven by the long-term potential of the company, especially given the robust smart meter rollout in the country.
Having said that, let’s dig deeper to understand the complete rationale behind his latest pick.
Genus Power Infrastructure Limited: Powering India’s Metering Revolution
Genus Power is engaged in the manufacturing of meters and offers metering solutions. The company undertakes engineering and construction contracts on a turnkey basis for the energy metering needs of the DISCOMs and other utility departments. From traditional meters to smart meters, Genus Power offers both.
The product portfolio of the company includes anti-tamper meters, single-phase, three-phase meters, Current Transformer-operated meters, Availability-Based Tariff (ABT) meters, and distribution transformer meters in the conventional space.
In the advanced smart metering space, the company offers prepaid and postpaid smart meters, group and net metering, and smart city applications.
Apart from the products, the company offers advanced metering infrastructure services as well. This includes end-to-end smart metering solutions under different models, and this makes Genus Power a full-stack Advanced Metering Infrastructure Service Provider (AMISP).
Smart Metering Opportunity in its Early Stage
As veteran investor Madhusudhan Kela usually invests in businesses that have long-term growth potential, Genus Power fits the bill, as smart metering solutions in India are in their early stages of roll out.
As per management, the total number of smart meters required across India is around 31 to 32 crores. Having said that, only 15.6 crores smart meters have been tendered as of May 2026.
This indicates a multi-year growth potential for the company as well as the industry as a whole.
Solid Manufacturing Capacities Reducing Bottlenecks
Genus Power has four manufacturing units with a total of around one million square feet of manufacturing facilities. To date, the total number of meters (smart and traditional) manufactured and installed by the company stood at 105 million (10.5 crores).
The current annual production is around 18 million meters; this includes both conventional and advanced smart meters.
The company is further expanding its business beyond electricity. As per management, the company is positioning itself for smart gas meter manufacturing, smart water meters, and also planning to venture into foreign markets. For venturing into these spaces and expanding its product portfolio, the company invested more than ₹150 crore in research and development (R&D) in the last few years.
However, the company has no major capex investment plans as of now.
Strategic Partnership Advantage
Genus Power is one of the exclusive AMISP partners of GIC, a Singapore-based global investment company managing the government’s foreign financial assets.
This strategic partnership gives access to a US$ 2 billion platform to Genus Power. The company supplies meters to other AMISPs as an original equipment manufacturer (OEM) via the platform.
Multi-Year Revenue Visibility
The total orderbook of the company stood at ₹25,173 crore (net of taxes) as of March 2026, offering multi-year revenue visibility for the company.
The orderbook has declined from ₹30,110 crore as of March 2025, due to higher execution of the orders, rather than weak order inflow. The orderbook includes all the orders from special purpose vehicles (SPVs) of the company and from the GIC platform as well.
90%+ Jump in Sales and Profit
Genus Power saw a 95% surge in its annual sales during FY26. Sales increased from ₹2,442 crore in FY25 to ₹4,751 crore in FY26.
Profit for the period surged from ₹311 crore to ₹592 crore, logging in a 90.4% YoY growth. Earnings per share (EPS) for the period increased from ₹10.3 to ₹19.5 per share.
Return on capital employed (ROCE) stood at 23.94%, slightly higher than the industry median of 21%. However, return on equity (ROE) was at 29%, almost double the industry median of 18.2%.
Genus Power also pays regular dividends, and its current dividend yield is around 0.8%, while that of the industry is almost negligible.
Is this a Value Pick by Madhusudhan Kela?
As the stock is trading at a price-earnings (PE) of 16.1x, while the industry median is 31x, it seems the veteran investor has found another value investment pick for his portfolio. Even the price-earnings to growth (PEG) ratio is 0.09x, lower than the industry median of 0.5x, indicating that the stock is relatively undervalued compared to its peers.
Higher Returns at Lower Valuations
| Valuation Metric | Genus Power | Industry Median |
| P/E (x) | 16.1x | 31.0x |
| PEG (x) | 0.09x | 0.50x |
| ROCE (%) | 23.9% | 21.0% |
| ROE (%) | 29.0% | 18.2% |
| Dividend Yield (%) | 0.8% | Negligible |
1-Year Share Price Chart of Genus Power Infrastructure Ltd.
Final thoughts
Adding Genus Power to the portfolio seems to be another bet on long-term growth potential by Madhusudhan Kela. With a solid order book offering multi-year revenue visibility, a growing order execution rate, along with increasing sales and profits, aligns the stock with his style of investing.
If you follow his portfolio and investment decisions closely, you can add this stock to your watchlist for now and see how his conviction plays out.
Disclaimer:
We have relied on data from www.Screener.in throughout this article. Only in cases where the data was not available have we used an alternate, but widely used and accepted source of information.
The purpose of this article is only to share interesting charts, data points, and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educational purposes only.
Maumita Mitra is a seasoned writer specializing in demystifying the world of investment for a broad audience. She has a keen eye for detail and a knack for explaining complex financial concepts in the simplest manner possible.
Disclosure: The writer and her dependents do not hold the stocks discussed in this article.
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