Power Mech shares jump 5% after ₹1,000-crore order win from Adani units

Power Mech received a ₹515 crore order from Mirzapur Thermal Energy (UP) Private Limited and a ₹490 crore order from Mahan Energen Limited

Shares of Power Mech Projects Ltd. rose over 5 per cent on Wednesday after it bagged multiple domestic thermal power projects worth over ₹1,000 crore from the subsidiaries of Adani Power. 

 

The company's stock rose as much as 5.23 per cent during the day to ₹2,195 per share, the biggest intraday gain since February 3 this year. The stock pared gains to trade 5 per cent higher at ₹12,192 apiece, compared to a 0.08 per cent decline in Nifty 50 as of 12:25 PM. 

 

Shares of the company are up 5.5 per cent this month, potentially snapping a seven-month losing streak and currently trade at 1.6 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 4.3 per cent this year, compared to a 1.5 per cent decline in the benchmark Nifty 50. Power Mech Projects has a total market capitalisation of ₹6,944.68 crore.

Power Mech bags orders worth over ₹1,000-crore

Power Mech Projects secured large-scale domestic orders aggregating to over ₹1,000 crore from subsidiaries of Adani Power Ltd, according to an exchange filing. The company received a ₹515 crore order from Mirzapur Thermal Energy (UP) Private Limited and a ₹490 crore order from Mahan Energen Limited.

 

Both contracts pertain to the 2x800 Megawatt (Mw) ultra supercritical thermal power projects at Mirzapur Phase-I and Mahan Phase-III, respectively.

 

The scope of work includes onsite services for erection, testing, commissioning, and manpower assistance for the Performance Guarantee Test of Steam Generator (SG) Package A and Steam Turbine Generator (STG) Package B, along with their auxiliaries, for Units 1 and 2 of the respective projects. The orders are to be executed within 36 months from the erection start date as notified in the Notice to Proceed, the company said in the statement. 

Power Mech Projects Q3 results 

Power Mech Projects reported a 14.6 per cent year-on-year (Y-o-Y) increase in consolidated net profit to ₹93.99 crore in the third quarter of financial year 2025-26 (Q3FY26), compared with ₹82.03 crore in the corresponding quarter last year. Revenue from operations rose 6.1 per cent Y-o-Y to ₹1,419.56 crore for the quarter ended December 31, 2025, as against ₹1,337.97 crore in the year-ago period.

 

Power Mech is an engineering and construction company providing integrated service in the erection, testing, and commissioning (ETC) of boilers, turbines, and generators and balance of plant (BOP), civil works, and operation and maintenance (O&M).