Power Mech Projects shares in focus after bagging orders worth Rs 551 crore
Power Mech Projects
will be in focus on Tuesday after the company announced that it has secured two orders worth a total of Rs 551.35 crore from SJVN Thermal and Jhabua Power.
According to an exchange filing, the first order from SJVN Thermal is valued at Rs 498.39 crore. It involves commissioning support and a comprehensive operation and maintenance (O&M) contract for the coal-based supercritical Buxar Thermal Power Project at Chausa, Bihar. The project is expected to be completed in 39 months.
The second order, worth Rs 52.96 crore, was awarded by Jhabua Power. It pertains to the O&M of the boiler, turbine, and generator for a 1x600 MW unit at Barela, Madhya Pradesh. The contract spans three years, with a provision for a one-year extension.
In May, Power Mech also bagged a major order worth Rs 971.98 crore from Telangana Power Generation Corporation.
The Hyderabad-based engineering and infrastructure company is recognized for its expertise in the power sector, providing comprehensive services that include the erection, testing, and commissioning of power plants.
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Power Mech Projects Q1 results
For the first quarter, Power Mech Projects reported a 53.8% year-on-year (YoY) rise in net profit to Rs 129.8 crore, up from Rs 84.4 crore in the same quarter last year. The profit growth was driven by robust revenue and stable margins.
Revenue for the quarter stood at Rs 1,853.3 crore, marking a 42.4% increase from Rs 1,301.5 crore in Q4FY24, reflecting strong execution across key segments.
EBITDA for the quarter rose 44.3% YoY to Rs 215.7 crore, compared to Rs 149.5 crore in the year-ago period. The EBITDA margin remained stable at 11.6%, slightly up from 11.5% last year, indicating effective cost control.
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