Power Mech Projects share price jumps 5% on securing ₹579 crore order from BHEL

Shares of Power Mech Projects jumped 5% on Monday morning at ₹2,279 a piece on the NSE after company announced securing new order from Bharat Heavy Electricals Ltd (BHEL).

The company has secured a ₹579 Crore (excluding GST) order from (BHEL) for Civil structure construction which includes foundations, chimney raft, service building, T-Yard, ducting, labour hutments, piping, switchyard, and more. The project is expected to be completed in 36 from the date of receiving a letter of allotment.

The company also secured a ₹164.62 crore order from BHEL for main supply including design & engineering, mandatory spares and civil works including Erection & Commissioning (E&C) for 2 X 800 MW DVC Koderma TPS Phase-II- EPC project. The order is to be executed within 30 months from the date of LoA.

Power Mech Projects Limited is one of the leading infrastructure-construction Companies based in Hyderabad, India with a global presence and highly credited in providing a spectrum of services in the power and infrastructure sectors. The company has established a niche in power generation covering almost every segment including Erection, Testing and Commissioning of BTG and BOPs, Operation and Maintenance, Repairs, Overhauling, Renovation and Modernisation of power plants and related civil works.

In the previous quarter, the company’s revenue jumped 20.8% YoY to ₹1,337 crore and the operating profit increased by 12.7% at ₹150 crore with an EBITDA margin of 11.2%. Lastly, the net profit for the company jumped 35% YoY to ₹86 crore as compared to ₹63.3 crore in the previous year similar quarter.