Genus Power Infra Q1 Review


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Genus Power Infrastructures Ltd. continued to operate at low capacity utilisation on semiconductor and other electronic component shortages during Q1 FY23, which resulted in lower revenue and margin due to lack of operating leverage.

In Q1 FY23, Genus Power Infras’ revenue at Rs 1.9 billion was up 3.3% QoQ and 43.5% YoY, while Ebitda margin was lower QoQ at 7.7%. Profit after tax at Rs 7 million declined 94% QoQ.

We believe while H1 FY23 will be underwhelming, the tide may turn over the next few months in terms of both order execution and margins, mainly due to-

  1. improvement in semiconductor availability which will help improve capacity utilisation substantially,

  2. execution of better margin orders and

  3. substantial increase in order awarding.

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