Gram Power to ramp up smart meter manufacturing capacity; expects growth

Homegrown smart metering firm Gram Power is eyeing a multi-fold growth in topline in the current fiscal as it is set to ramp up the manufacturing capacity to 10 million units per annum, according to a top company official.

"We have set up a manufacturing unit with a capacity of up to 3 million smart meters per year, and we aim to ramp up production to 10 million meters in the next 12-15 months to meet the growing demand for smart metering systems in the country," Yashraj Khaitan, Founder and CEO of Gram Power, told PTI.

With the capacity expansion, Gram Power is eyeing about 10 per cent of the country's 300 million metering market over the next five years.

Khaitan said that that once the additional capacity is functional, Gram Power's topline turnover will increase by 20 times in 2023-24.

However, he did not disclose specific financial details.

Recently, the company raised USD 100 million from I Squared Capital for capacity expansion works.

Under the Smart Meter National Programm