Power Mech Projects zooms 5% after securing work order from Adani Power

Shares of Power Mech Projects jumped 5.14 per cent at Rs 2,699.95 a piece on the BSE in Wednesday’s intraday trade. Power Mech Projects share price soared after the company bagged an order worth Rs 294 crore from Adani Power.

 

“We are delighted to announce that our Company has secured a Rs 294 Crore (excluding GST and an incentive amount of Rs 1.25 crore per unit after achieving the Synchronization within stipulated time) order from Adani Power Limited (APL) for Overhauling services, condition assessment, Erection, Testing, Commissioning and manpower assistance for Performance Guarantee Test of Steam Generator (SG) and Steam Turbine Generator (STG) and its Auxiliaries for Unit 3 and 4 of 2x660 MW Korba Phase-II Thermal Power Project,” the company said in an exchange filing. 

 

Last week on Thursday, December 26, 2024, the company had secured a similar order worth Rs 186 crore from Jaiprakash Power Ventures. The contract involves providing field operation and maintenance services for the 2 x 660 MW Jaypee Nigrie Super Thermal Power Plant in Nigrie, Madhya Pradesh, over a five-year period from January 1, 2025, to December 31, 2029.

 

The company reported a 35.60 per cent increase in consolidated net profit, reaching Rs 69.51 crore in Q2FY25, compared to Rs 51.26 crore in the same quarter last year. 

 

Revenue from operations grew by 11.04 per cent, rising to Rs 1,035.49 crore from Rs 932.49 crore during the corresponding period. Additionally, the profit before tax (PBT) increased by 25.71 per cent YoY, amounting to Rs 100.90 crore in Q2FY25 compared to Q2FY24.

 

The company has a total market capitalisation of Rs 8,426.69 crore. Its shares are trading at a price to earnings multiple of 16 times and at an earning per share of Rs 166.59. 

 

At 12:36 PM, the stock price of the company advanced by 3.95 per cent at Rs 2,669.25 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.54 per cent to 78,563.99 level.

 

Power Mech Projects is a leading integrated power infrastructure services company in India. It specializes in providing comprehensive services, including the erection, testing, and commissioning of boilers, turbines, and generators (ETC-BTG), as well as balance of plant (BOP) works, civil construction, and operation and maintenance (O&M) services. 

 

The company operates across three main business verticals: Erection Works, Operation & Maintenance Services, and Civil Works, delivering end-to-end solutions for the power and infrastructure sectors.