Power Mech Projects Shares Surge 5% Following ₹710 Crore Contract Award from Adani Infrastructure

Power Mech Projects Share Price Jumps 5% on ₹709.56 Crore Contract Win

Key Highlights:

• Power Mech Projects secured a ₹709.56 crore contract from Adani Infrastructure Management Services Ltd for operations and maintenance services at a 5×660 MW thermal power plant in Maharashtra.
• The contract encompasses operations and maintenance (O&M) services, including overhauls, and will be executed under a KPI-based contract framework.
• The project will be carried out by Power Mech Projects over a five-year duration, from April 1, 2026, to March 31, 2031.

Contract Details:

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• The overall value of the contract is ₹709.56 crore, excluding goods and services tax (GST).
• Power Mech Projects will provide extensive operation and maintenance services, including overhaul assistance, for the thermal power units, adhering to tender specifications and accompanying clarifications.

Company Performance:

• Power Mech Projects announced a 14.6% increase in net profit, reaching ₹94 crore in Q3, up from ₹82 crore during the same quarter last year.
• Revenue generated from operations rose by 6.1% to ₹1,419 crore, compared to ₹1,338 crore in the previous year.
• However, the company's operational performance showed signs of deterioration in this quarter, with EBITDA falling by 20.7% to ₹159.3 crore and the EBITDA margin decreasing to 11.2%.

Share Price Performance:

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• Power Mech Projects share price opened at ₹1,961.05 apiece on the BSE, touching an intraday high of ₹1,987.40 per share and an intraday low of ₹1,920.80 per share.