Cyanconnode Regulatory News (CYAN)

Hardman & Co Research on Cyanconnode (CYAN):

Indian smart meter programme update

On 14 and 15 October 2022, the Indian Ministry of Power held a "Brainstorming Session" at the Power Ministers' Conference. The presentation for the session contains a detailed update on the smart meter rollout in terms of rationale, targets and current progress. The Indian Government's commitment to achieving the replacement of 250m meters remains emphatic, likely reinforced by the positive benefits delivered so far in terms of key metrics, such as billing and collection efficiency. Deployments of some 179m meters have been sanctioned, of which c.35% are at various stages of the tendering/award process. CyanConnode remains a proven vendor and supplier to many prime contractors, boding well for the company.

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