Latest news with #ofPlant
The Hindu
6 days ago
- Business
- The Hindu
TNGCPL terminates contract awarded to BGR for North Chennai Super Critical Thermal Power Project, Stage III
Tamil Nadu Power Generation Corporation Ltd (TNGCPL) has terminated contract awarded to BGR Energy Systems Ltd. for the establishment of 1 x 800 mW North Chennai Super Critical Thermal Power Project, Stage III – Balance of Plant (BOP) package along with allied civil works engineering, procurement and construction (EPC) contract worth ₹2,600.02 crore, citing the non-fulfillment of key project obligations among others. In a stock exchange filing, BGR said it received the termination letter from TNGCPL on July 18. TNGCPL cited various reasons for termination of contract, including the contractor being unable to fulfil key project obligations, critical systems remaining incomplete, and the contractual requirements for insurance renewals and guarantee extensions were not met, according to BGR. The company said it is awaiting a positive outcome from the Arbitration application pending before the Madras High Court in this matter and said there is no major impact on its financials and operations. North Chennai Super Critical Thermal Power Project Stage-III (1x800 mW) is situated in Tiruvallur district. The Super Critical 800 mW project cost, including Interest During Construction (IDC), is ₹10,158 crore, according to the State Energy Department policy note for 2025-2026. The Project was commissioned and inaugurated by Chief Minister M.K. Stalin in March 2024. The unit was synchronised using coal firing on 17.03.2024, and achieved full load by 27.06.2024. Further, a trial run was started on 20.03.2025 and is continuously operating. It has also reached its maximum capacity of 675 mW during the trial run on 28.03.2025. All steps are being taken to achieve the date of commercial operation as soon as possible, the policy note said. Once the plant reaches its installed capacity of 800 mW and operates continuously for 72 hours, it will be considered a power plant. It is designed to operate with 50% Imported and 50% Domestic Coal. Earlier, TNPGCL had terminated the EPC contract awarded to BGR for the 660-MW Ennore Thermal Power Station (ETPS) expansion project, due to slow progress and poor performance.
&w=3840&q=100)
Business Standard
15-07-2025
- Business
- Business Standard
Why did Power Mech's share price zoom 6% in trade today? Find out here
Power Mech Projects share price: Construction engineering company Power Mech Projects (Power Mech) shares were in demand on Tuesday, July 15, 2025, with the stock popping as much as 5.60 per cent to hit an intraday high of ₹3,398.90 per share. At 12:00 noon, Power Mech share price was trading 1.78 per cent higher at ₹3,275.90 per share. In comparison, BSE Sensex was trading 0.43 per cent higher at 82,609.24 levels. What drove Power Mech share price higher today? The uptick in Power Mech Projects' share price came after the company announced that it has secured two orders in the power sector. The first order has been awarded by SJVN Thermal (P) Limited for commissioning support and comprehensive operation and maintenance of the coal-based supercritical Buxar Thermal Power Project (BTPP), comprising 2 x 660 MW units located at Chausa, District Buxar, Bihar. This domestic contract will be executed over a period of 39 months, with a total consideration of ₹498.39 crore, excluding all taxes, duties, levies, cess, etc. The second order comes from Jhabua Power Limited (a joint venture of NTPC Limited) for the operation and maintenance of the boiler, turbine, and generator for a 1 x 600 MW unit situated at Village Barela, Post Office-Attaria, Tehsil-Ghansore, District Seoni-480997, Madhya Pradesh. This, too, is a domestic contract with a duration of three years and a provision for a one-year extension. The total value of this order is ₹52.96 crore, excluding all applicable taxes and levies. About Power Mech Projects Power Mech Projects is among the leading infrastructure and construction companies with a strong focus on the power and infrastructure sectors. The company offers services such as the erection, testing, and commissioning (ETC) of boilers, turbines, and generators, along with Balance of Plant (BOP) works. Power Mech Projects is also actively involved in the operation and maintenance (O&M) of power plants and undertakes civil construction works related to power projects. Its expertise spans across engineering, procurement, and construction (EPC), making them a key player in delivering integrated solutions for power infrastructure. In addition to its core power sector operations, the company has diversified into other infrastructure domains including railways, mining, steel, transmission and distribution, and process industries. With a growing global footprint, the company has executed projects both in India and internationally. Its broad service offerings include engineering design, project management consultancy, procurement, logistics, and inventory management. The market capitalisation of Power Mech Projects is ₹10,357.18 crore, BSE data showed. The company falls under the BSE SmallCap category.
&w=3840&q=100)
Business Standard
27-06-2025
- Business
- Business Standard
Power Mech shares rise after ₹159 crore solar power project orders
Shares of Power Mech Projects rose over 2.5 per cent on Friday after it secured orders worth ₹159 crore from Bihar State Power Generation Company Limited (BSPGCL). The company's stock rose as much as 2.56 per cent during the day to ₹3,236 per share. The stock pared gains to trade 1.5 per cent higher at ₹3,201 apiece, compared to a 0.23 per cent advance in Nifty 50 as of 11:00 AM. Shares of the company extended gains to their fourth straight day on Friday, gaining over 8 per cent in the process. From its March low, the stock has surged nearly 83 per cent. The counter has risen 25 per cent this year, compared to an 8.12 per cent advance in the benchmark Nifty 50. Power Mech Projects has a total market capitalisation of ₹10,185.03 crore, according to BSE data. Track LIVE Stock Market Updates Here Power Mech bags orders worth ₹159 crore The company secured solar power project orders from BSPGCL under the PM-KUSUM Component C2 Scheme for feeder-level solarisation, according to an exchange filing on Thursday. The projects involve setting up grid-connected distributed solar power plants at three power sub-stations in Bihar, Rajoun (4.221 Mw), Sakahara (4.285 Mw), and Sambhuganj (5.155 Mw)—with a total capacity of 13.66 Mw (AC). The combined value of the contracts is approximately ₹159 crore, with estimated revenue generation over the Power Purchase Agreements (PPAs) tenure. The orders, awarded on a Build-Own-Operate (BOO) basis, will be executed within 12 months, according to the statement. The projects are backed by 25-year PPAs with Bihar DISCOMs and are eligible for government subsidies of ₹1.05 crore per Mw (central) and ₹0.45 crore per Mw (state). Power Mech Q4 results The company reported a 53.8 per cent jump in consolidated net profit to ₹129.8 crore in Q4FY25, as against ₹84.4 crore in the same quarter a year ago (Q4FY24), influenced by robust revenue growth and steady operating margins. Revenue from operations zoomed 42.34 per cent Y-o-Y to ₹1,853.3 crore in Q4FY25, from ₹1,301.5 crore in Q4FY24. About Power Mech The company is among the leading infrastructure and construction companies with a strong focus on the power and infrastructure sectors. It offers services such as the erection, testing, and commissioning (ETC) of boilers, turbines, and generators, along with Balance of Plant (BOP) works.
&w=3840&q=100)
Business Standard
23-05-2025
- Business
- Business Standard
Here's why Power Mech shares were buzzing in trade on May 23; details
Power Mech Projects share price: Power Mech Projects (Power Mech) shares were buzzing in trade on Friday, May 23, 2025, with the scrip rising up to 14.70 per cent higher at Rs 3,380 per share. However, at 11:50 AM, Power Mech shares were trading 6.88 per cent higher at Ra 3,149.65 per share. In comparison, BSE Sensex was trading 0.99 per cent higher at 81,749.50 level. Why did Power Mech shares rally today? Power Mech shares rose after posting strong results in the March quarter of financial year 2025 (Q4FY25). The company reported a 53.8 per cent jump in consolidated net profit to ₹129.8 crore in Q4FY25, as against ₹84.4 crore in the same quarter a year ago (Q4FY24), influenced by robust revenue growth and steady operating margins. Revenue from operations zoomed 42.34 per cent Y-o-Y to ₹1,853.3 crore in Q4FY25, from ₹1,301.5 crore in Q4FY24. Meanwhile, profit before tax (PBT) jumped 48.2 per cent Y-o-Y to ₹180.9 crore, from ₹122 crore in Q4FY24. Power Mech dividend Power Mech board has approved the final dividend on equity shares at the rate of 12.5 per cent i.e. ₹1.25 per equity share of ₹10 each for the financial year ended March 31, 2025. 'The above-mentioned dividend, if approved by the shareholders in the ensuing annual general meeting, shall be paid within 30 days of such approval,' the company said. About Power Mech Projects Power Mech Projects is among the leading infrastructure and construction companies with a strong focus on the power and infrastructure sectors. The company offers services such as the erection, testing, and commissioning (ETC) of boilers, turbines, and generators, along with Balance of Plant (BOP) works. Power Mech Projects is also actively involved in the operation and maintenance (O&M) of power plants and undertakes civil construction works related to power projects. Its expertise spans across engineering, procurement, and construction (EPC), making them a key player in delivering integrated solutions for power infrastructure. In addition to its core power sector operations, the company has diversified into other infrastructure domains including railways, mining, steel, transmission and distribution, and process industries. With a growing global footprint, the company has executed projects both in India and internationally. Its broad service offerings include engineering design, project management consultancy, procurement, logistics, and inventory management.
