Power Mech Projects on a roll; bags two new work orders
Outperforming the broader market, the company’s share price has surged 136% in the past one year compared to a 77% change in BSE Industrials.
About the Order
Power Mech Projects Limited which is Infrastructure Developers & Operators company today reported that it has received two new orders worth Rs 658.57 crores.
The first order, valued at approximately Rs 541.62 crores, has been awarded by the Madhya Pradesh Water Resources Department, Government of Madhya Pradesh. This order entails the construction of the Upper Burhner Project Dam and Pressurized Pipe Irrigation network. With a period of 60 months for execution, this significant project underscores Power Mech’s expertise in civil construction and engineering works.
The second order, valued at around Rs 116.95 crore, has been awarded by the Gujarat Mineral Development Corporation. This order involves the overhaul of boilers and Electrostatic Precipitator (ESP) packages, including the supply of spares, for the 2x125 MW Akrimota Thermal Power Station. With a shorter execution period of 11 months, this project highlights Power Mech’s proficiency in providing comprehensive solutions for power plant maintenance and enhancement.
Stock Performance
In the last trading session, the stock closed at Rs 5,160.50. Today it opened at Rs 5,140.25 and closed at Rs 5,183.05, up by 0.44%. The company’s 52-week high stands at Rs 5,544, while its 52-week low stands at Rs 2,118.10. Currently, the company boasts a market capitalisation of approximately Rs 8193.44 crore. In the last one year, the company’s shares have yielded multibagger returns of 135.74% and in the same time frame, BSE Industrials has changed by 76.96%.
About the Company
Power Mech Projects Limited, incorporated in 1999, is an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M). The company undertakes ultra mega power projects, super critical thermal power projects and sub-critical power projects.
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