Genus Power, ITI Ltd, Adani Energy, HPL Electric: Smart meter stocks in focus on March 13; here is why

Smart meters are digital electricity meters that automatically record and transmit power consumption data to the utility company in real time, eliminating the need for manual meter readings.

The Eleventh Report of the Committee on 'Demands for Grants (2026-27) of the Ministry of Power' was tabled in Parliament on Thursday.

The report said that since the pace of installation of smart meters across the country has been far below the envisaged targets, the ministry should undertake urgent measures to significantly accelerate the rollout of smart meters in a structured and time-bound manner, with clearly defined state-wise and utility-wise milestones.

It noted that the government had set a target of installing 25 crore smart meters in the country by March 2025, against which only 5.83 crore smart meters have been installed till February 15, 2026.

The committee observed that although the rate of installation of smart meters in the country has increased to about 1,35,000 per day, it may still be insufficient to bridge the large gap between the specified target and corresponding achievements within the revised timeline, i.e., up to March 2028.

Further, it noted that frequent complaints are being reported by consumers across states regarding billing inaccuracies, errors during data migration, concerns over data privacy, frequent replacements of consumer meters, etc.

These issues have the potential to erode consumer confidence and undermine the very objectives of smart metering as a tool for reform, it pointed out.

Panel suggestions

The panel suggested that robust mechanisms should be put in place to address the concerns of consumers, and stringent testing, certification and quality assurance of smart meters before installation should be ensured.

Moreover, it suggested that a quality monitoring mechanism should be devised to ensure accountability of advanced metering infrastructure service providers and discoms in this regard.

Stocks in focus

Smart meters are a key part of the revamped distribution sector scheme launched by the Government of India to modernise the power distribution system and reduce losses.

Companies involved in smart meter manufacturing or deployment include firms such as Genus Power Infrastructures, HPL Electric & Power, Adani Energy Solutions, and ITI Limited, among others.