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GenusPlus Group Ltd Fully Paid Ord. Shrs ASX:GNP

Energy Transition Engineering Services AI Infrastructure Data Centres

1 opened or increased8 held0 reduced or exitedlatest position by manager, past 12 months90 days: 2 increased, 0 reduced. 10 managers in total.

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2026

11 Jun 2025 to today

Commentary Showing 2 of 37

DateManagerActionSummary

30 Sep 2026QVG CapitalHeldQVG Capital continues to hold GenusPlus Group Ltd (ASX: GNP) because it sees the company, alongside Southern Cross Electrical and Duratec, as a builder and maintainer of physical infrastructure such as data centres, transmission lines, defence and energy assets. QVG notes this work occurs regardless of consumer sentiment or interest rates. During the period Genus commenced construction on North West Tasmanian Developments and won both a battery project and a wind farm contract.

Monthly Report, price recorded $9.42

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22 Sep 2026Ausbil Investment ManagementHeldAusbil Investment Management continues to hold a positive view on GenusPlus Group, with Arden Jennings favouring the company as exposure to grid transmission investment and battery storage. The share price was approximately $9.03. Ausbil notes GenusPlus trades at around 18 times earnings, roughly in line with the market multiple, while delivering 10-20% organic growth. Including the MPC Connect acquisition, the manager highlights revenue growth above 60% and earnings growth of around 80%. Ausbil Investment Management also flags the company's recent inclusion in the ASX 300 as a potential stepping stone toward ASX 200 entry, which could broaden its investor base.

Energy TransitionArticle, price recorded $9.03

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Articles

About GenusPlus Group Ltd Fully Paid Ord. Shrs

Industrials, Construction and Engineering

GenusPlus (ASX:GNP), an electrical infrastructure contractor, is a core holding for managers backing grid electrification. In September 2026, LSN Capital Partners rated GenusPlus a buy, describing a three-year core holding well placed in renewables, grid electrification and data centre work, with founder-led management owning more than half the company. Ausbil likes it as exposure to transmission investment and battery storage at around 18 times earnings. QVG and Ausbil noted a 20% fall in July despite new contracts, including a $55 million Rio Tinto transmission contract, as it was caught in the AI supply chain sell-off. GenusPlus operates in the Industrials sector within the Construction and Engineering industry, and Thesis Tracker has captured 33 comments from 10 fund managers, including LSN, Ausbil and QVG. Founded in 2017 by David Riches and based in Belmont, Perth, GenusPlus builds and maintains power transmission, distribution and communications infrastructure across Australia.

Market cap: $1.8b
Price to earnings: 33.5x
Return on equity: 17.6%
Dividend yield: 0.8%
Price to book: 4.46x
Net margin: 3.8%
52-week range: $5.68 to $11.35

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in GenusPlus Group Ltd Fully Paid Ord. Shrs (ASX:GNP)?

Fund managers including Katana Asset Management, QVG Capital, Centennial Asset Management, Wilson Asset Management, Ellerston Capital, LSN Capital Partners, Akambo, NorthStar Impact Funds, Ausbil Investment Management and Pendal Group have invested in GenusPlus Group Ltd Fully Paid Ord. Shrs (ASX:GNP).

What opportunities or catalysts do fund managers highlight for GenusPlus Group Ltd Fully Paid Ord. Shrs?

Managers highlight exposure to grid transmission, renewables, battery storage and data centres, founder-led management with significant ownership and new contracts such as Rio Tinto's 220kV line, according to LSN, Ausbil and QVG.

What are the key risks to the GenusPlus Group Ltd Fully Paid Ord. Shrs investment thesis, according to fund managers?

QVG and Ausbil note GenusPlus fell 20% in July as it was classed with AI supply chain stocks during a rotation, despite new contract wins, highlighting sentiment-driven volatility.

What does GenusPlus Group Ltd Fully Paid Ord. Shrs (ASX:GNP) do?

GenusPlus Group Ltd. provides installation, construction, and maintenance services for power and communication systems. Founded in 2017 by David Riches and based in Belmont, Australia, the company operates through three primary segments: Infrastructure, Services, and Energy & Engineering. GenusPlus specializes in delivering essential technical and project solutions across the energy and telecommunications sectors.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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