A leading power infrastructure services provider has secured a significant five-year contract valued at Rs 186 crore for operation and maintenance services at a major thermal power facility in Madhya Pradesh. This latest order from a prominent energy producer strengthens the company’s position in the power sector maintenance segment.
Share Price Movement
The share price of Power Mech Projects Limited went up by 2.9 percent to Rs. 2,584.95 per share on Friday, an increase from its previous close of Rs. 2,512.35 per share. The market capitalisation now stands at approximately Rs. 8,059 crore as of December 27, 2024.
Order Details
The company has received an order worth Rs 186 crore from Jaiprakash Power Ventures. It will handle the operation and maintenance of the 2 x 660 MW Jaypee Nigrie Super Thermal Power Plant in Madhya Pradesh for the next five years.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Power Mech Projects’s consolidated revenue from operations has increased by 11.05 percent YOY from Rs. 932 crore in Q2 FY24 to Rs. 1,035 crore in Q2 FY25 and increased by 2.7 percent QoQ from Rs. 1,007 crore in Q4 FY24.
The company’s consolidated net profit has increased by 37.25 percent, from Rs. 51 crore in Q2 FY24 to Rs. 70 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 12.9 percent QoQ from Rs. 62 crore.
Market Outlook
Power Mech Projects Limited has successfully navigated a transformative journey over the last 25 years, expanding from its roots in the power sector to include diverse industries like infrastructure, railways, and petrochemicals. Despite challenges, such as the shift towards renewable energy.
The company has maintained a strong presence, particularly in the power sector, managing a significant share of coal and gas-based plant projects. Power Mech’s adaptability to market dynamics, combined with its expertise in project management and O&M services, positions it for continued growth in both domestic and international markets.
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Shareholding Pattern
As of the September 2024 shareholding pattern, Power Mech Projects Limited is primarily held by the promoters at 58.29 percent, domestic institutional investors hold 4.94 percent, and the public with 13.67 percent.
About Company
Power Mech Projects Limited, founded in 1999 by technocrat S. Kishore Babu, is a leading engineering and construction company based in Hyderabad, India. The company specialises in the erection, testing, and commissioning of power plants, including boilers, turbines, generators, and balance of plant operations. Over the years, it has expanded into operation and maintenance services, catering to various energy sectors such as ultra-megapower projects and super-critical thermal projects.
Since its inception, Power Mech has achieved significant milestones. It began by overhauling gas turbines for Tata at Trombay and soon garnered recognition for executing large-scale projects for BHEL. The company also pioneered annual maintenance contracts for power plants, now managing facilities with a combined capacity exceeding 58,000 MW. Additionally, Power Mech has successfully completed major projects abroad, including the Shuqaiq SSPP in Saudi Arabia and the Bheramara CCPP in Bangladesh.
Looking forward, Power Mech continues to diversify, venturing into infrastructure, railway projects, and rural electrification. With five strategic business units, the company is well-positioned for further growth. Power Mech’s listing on the Bombay and National Stock Exchanges reflects its continued success and market confidence.
Written By Fazal Ul Vahab C H
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