Member Info for Vascular

Up until July 23, Genus was a obvious AMISP in the India SM rollout. In July 23 the announcement was made that Singapore’s sovereign wealth fund, GIC, had agreed to buy a 74% stake in its ( GENUS) new smart metering solutions venture for $2 billion.

GIC's affiliate, Gem View Investment, will hold a 74% stake in the platform, while the remaining 26% shareholding will be with Genus Power.

"Genus Power and Gem View Investment have jointly established a platform to undertake the Advanced Metering Infrastructure Service Provider projects, Agarwal said...."

and

" The platform will act as the primary bidder for AMISP projects from state electricity boards, with Genus Power executing the secured orders as the platform's exclusive system integrator partner."

Approximately 60% of the order value will be paid to Genus Power for project implementation, with the remaining amount being distributed according to the platform's shareholding pattern, Agarwal said.

The necessary project groundwork typically spans six to nine months, after which the inflows kick in, Agarwal said. Revenue generation will commence during the second half of FY24, with the recently secured order falling under the purview of the new platform, he said.

I think its a possibility that its the PLATFORM that will act as the primary bidder for AMISP projects and since July when announced, plus two months to set platform up, so since October 23 maybe the way things / information is given out had to be changed.

Dated Jul 23 ..Agarwal said ....recently secured orders falling under the new platform.

" The necessary project groundwork typically spans six to nine months, after which the inflows kick in, Agarwal said. Revenue generation will commence during the second half of FY24, with the recently secured order falling under the purview of the new platform, he said."

Read more at: https://www.ndtvprofit.com/markets/genus-power-expects-multifold-earnings-growth-from-fy24-says-joint-md

Copyright © NDTV Profit

Today.

"Shares of Genus Power in early morning deal on Friday (December 15) traded with sharp gains of around 5 per cent at Rs 234.45 each. The gains in the stock were triggered after the company's wholly owned subsidiary bagged an order worth Rs 1,026.31 crore.

In the regulatory filing with exchanges, the company said, ".. wholly owned subsidiary has received a Letter of Award (LOA) worth Rs. 1,026.31 crore (net of taxes) for appointment of Advanced Metering Infrastructure Service Providers (AMISPs), including design of Advance Metering Infrastructure (AMI) system with supply, installation, and commissioning with FMS of about a million Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis."

https://www.zeebiz.com/markets/stocks/news-with-ytd-return-of-176-this-electronic-equipment-major-gains-5-heres-why-268908

Https://www.livemint.com/economy/3-trillion-power-distribution-scheme-may-get-extension-11702571047356.html

Half Year Report out today.

Still very positive about CC "As yet, the Indian utility companies have not awarded many contracts, testing the patience of shareholders. We remain upbeat that substantial contracts will be announced in the coming quarters".

https://www.theaic.co.uk/companydata/miton-uk-microcap-trust/announcements/489567

Dec 13, 2023

https://in.tradingview.com/news/moneycontrol:426f90b44094b:0-hpl-electric-hits-10-upper-circuit-on-securing-rs-545-crore-smart-meter-order/

Little news out today

https://timesofindia.indiatimes.com/city/indore/now-jobat-gets-smart-power-meters/articleshow/105947525.cms

"The central government has sanctioned Rs 13,421 crore over a period of five years from fiscal 2021-22 to 2025-26 under the Revamped Distribution Sector Scheme (RDSS) for the power sector in Andhra Pradesh."..... "The minister said about 19.79 crore prepaid consumer smart meters are planned to be deployed across states, of which 56.09 lakh smart meters would be installed in Andhra Pradesh. A total of 42.06 lakh smart meters will be installed in the first phase in AP and 14.02 lakh more meters in the second phase."

https://www.deccanchronicle.com/nation/politics/131223/rs-13421-crore-sanctioned-by-centre-for-power-sector-in-ap-for-five-y.html

Sorry just to add.

Why Thirteen! Some of these manufacturers may well be in different consortiums ..which may mean that many if not most consortiums will then be able to access the CC technology irrespective of whether they are partners / affiliated with CC or not.

The other thing is if CC get 13- 15 manufacturers able and willing to take on large CC smart meter orders, then this creates a unique market, and during the competitive stage will put a downward pressure on cost per unit to manufacture, which should be in CCs and the customers favour.

Morning CB,

I see where you are coming from ...but surely the scalability issue and costs involved in being successful in the India rollout would have been discussed a long time before CC were invited to integrate with IntelliSmart, or Genus or any AMISP or utility for that matter.

I say this but i am none the wiser on where the extra funds, if required will come from.

It would not only be absolute suicide, to have no financial plan in place to scale up but also i would have thought it would be one of the main questions / criteria that each AMISP, and AMISP contractor and those on the empanelment list would need to prove.

This might be naïve of me but if CC suddenly won tenders amounting to millions of smart meter units , needing to be installed in next 24 months,. Why, couldn't Genus fund some of them, or the entire process, and pay CC on either manufacture, or delivery to customer.

If this is viable what is stopping any meter manufacturer who has been working alongside the CC team , in onboarding the CC technology into their smart meters doing exactly the same, to secure large orders...

How many meter manufacturers are with CC now. Was it something like thirteen. Why so many? GL Vas

Morning ITT,

Just for balance, one month earlier on 10th October 23 Cyan received another order form IntelliSmaret for 300,000 Omnimesh Modules .

And yes, a month later IntelliSmart on 12th November 23 selected Trilliant " as ONE of its software partners for its Head-end System (HES) cellular implementations."

And it was nearly a month later, on 8th December 23 that Gervais Williams from Miton group stated how "We’re tremendously upbeat about CyanConnode.", and my guess is at that time would have been fully aware that both Trilliant and Cyan where working alongside IntelliSmart. GL Vas

https://www.businesswire.com/news/home/20231113692468/en/IntelliSmart-Selects-Trilliant-as-a-Software-Partner-for-Head-end-System-Implementations-across-India

This back in April 22 , pretty much tell us their plans for investment to cover the 20million smart meters they aimed to win.

"Intellismart, a joint venture between Energy Efficiency Services (EESL) and National Investment and Infrastructure Fund (NIIF), sees an opportunity to install over 20 million smart meters in the country in the next 2 years. The company would need to raise around Rs 10,000 crore in loans to fund the installations."

Just last week.

IntelliSmart installing 20 million smart meters in India

Sounds like they have reached their target and now need to fund it, or fund what they do next.

https://www.smart-energy.com/industry-sectors/smart-meters/intellismart-installing-20-million-smart-meters-in-india/

Hi LT,

Thanks for the info on IntelliSmart . Interesting move and probably part of the IntelliSmart two year plan.

The article below was published 18 months ago but is a really interesting read, especially around about IntelliSmart and their ambitions.

Bearing in mind this article is approx. 18 months months old. I think the quote below from Rawal is significant...

"the company is looking at the next two years as a period of rapid-fire expansion. “We are geared up to contribute as much as possible. We have commissioned 2.5 million. Along with EESL, we have a combined pipeline of 8.6 million units. We are targeting 20 million in the next two years,” Rawal explains."

IntelliSmart are aiming for at least 20 million smart meters and within the next six months to a year.

GL Vas, and just to add as an investors here, if we can't be positive now, on the cusp of a 250 million Indian meter opportunity, then i can't imagine a similar opportunity presenting its self in such magnitude happening again for a very long time.

https://businessindia.co/magazine/intellismart-all-charged-up

I imagine FDBK will involved.

https://www.find-tender.service.gov.uk/Notice/030769-2023

and here afew days ago

" new digital procurement framework is expected in January 2024 to support practices in accessing “high quality online consultation, messaging and booking tools”.

https://htn.co.uk/2023/12/08/nhs-england-december-board-focuses-on-operational-financial-digital-primary-care-and-federated-data-platform/

and more here

"The scope of the digital pathways services and systems required will cover care navigation; online consultations and online patient/service user request reporting; cross-organisational appointment booking; prescription-ordering; video consultations; communication management; and enabling citizens to view content from their electronic patient record online (with this function to integrate with the ‘Patient Information Maintenance – GP Solution’ capability)."

https://htn.co.uk/2023/10/19/nhs-england-opens-300-million-procurement-framework-for-digital-pathways-in-primary-care-it/

Anyone have any ideas whether FDBK are involved in this tender. GL Vas

Https://timesofindia.indiatimes.com/city/trichy/govt-okays-24x7-drinking-water-project/articleshow/105853275.cms

"In the Kumaon region, we have taken up a project of over Rs 800 crore to install ..

Read more at:

https://energy.economictimes.indiatimes.com/news/power/adani-group-to-invest-rs-2-5k-crore-in-uttarakhand-in-cement-smart-meters/105853137

December 9, 2023, 11:54 [IST]

You may have to translate from Hindi.

Smart meters are being introduced in Tamil Nadu to eliminate the defects in electricity meters.

While an agreement was signed with PFC Consulting Company for this purpose, now, the Electricity Department has given permission to PFCCL to install prepaid electricity meters. For this Rs. 393 crore has been sanctioned.

In this regard, the order issued by the Pro-Secretary of Puducherry reads:

"Prepaid smart meters will be installed in the houses in Puducherry using the Dotex system. Power Finance Corporation Consulting Company (PFCCL) has been selected as the agency to implement the project. The Central Home Office has also given permission for this.

https://webcache.googleusercontent.com/search?q=cache:YJ5Yc2lRjDYJ:https://tamil.oneindia.com/news/puducherry/free-electricity-and-puducherry-government-approves-rs393-crore-for-prepaid-smart-meter-installation-564403.html&hl=en&gl=uk

Thanks LT,

Just an observation and regarding this IntelliSmart award

"Letter of Award (LoA) for 46 lakh prepaid smart meters meant for the entire Surat and Baroda districts in Gujarat".

I noticed that Kimbal Technologies, whom where previously known as Crystal have had a job advert out for a project manager specifically in Surat and Baroda districts in Gujarat !

Therefore, looks likely that Kimbal are involved, i know they have a RF solution and have deployed smart meters in Assam, Bihar, Gujrat, Jammu & Kashmir and others over the past few years.

As we know that IntelliSmart was awarded AMISP for Surat and Baroda, then does this mean that if Kimbal are involved they are IntelliSmarts subcontractors for this particular regional award in Gujarat ?

If so, its a first sub contractor award i have found, and interestingly has not yet been announced publicly, i think - so in all likelihood there could be many sub contractor awards already made , and not yet announced , and that goes for Cyan also, of course.

https://www.naukri.com/job-listings-project-manager-kimbal-technologies-rajkot-gujarat-surat-gujarat-vadodara-baroda-gujarat-5-to-10-years-171123002398

Not sure if this is a new award for IntelliSmart . Its published today!

https://indianexpress.com/article/cities/ahmedabad/intellismart-gets-orders-for-4-lakh-smart-power-meters-from-gujarat-9057944/

HI ITT,

Why not send an email to Mr Williams. At least give him an opportunity to respond - it sounds like you are an investor in both Miton small caps and Cyan - so certainly have an interest.