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Power Mech Projects share price jumps over 5% after bagging ₹710 crore contract from Adani Infrastr
Summary
Power Mech Projects share price jumped over 5% on Tuesday, March 17 after the firm after the company obtained a ₹709.56 crore contract from Adani Infrastructure Management Services Ltd for operations and maintenance services at a significant thermal power facility in Maharashtra.
This contract encompasses operations and maintenance (O&M) services, including overhauls, for the 5×660 MW thermal power plant located in Tiroda, Maharashtra. The arrangement will be carried out under a KPI-based contract framework, as indicated in the company's regulatory announcement.
The project has been given to a domestic entity and is set to be executed over a five-year duration, from April 1, 2026, to March 31, 2031.
According to the contract, Power Mech will provide extensive operation and maintenance services along with overhaul assistance for the thermal power units, adhering to the tender specifications and accompanying clarifications.
The overall value of the contract is ₹709.56 crore, not including goods and services tax (GST).
Power Mech 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.
Nonetheless, the company's operational performance showed signs of deterioration in this quarter. EBITDA fell by 20.7% to ₹159.3 crore, down from ₹201 crore in the corresponding period last year, while the EBITDA margin significantly decreased to 11.2% from 15%.
Power Mech Projects share price today opened at ₹1,961.05 apiece on the BSE, the stock touched an intraday high of ₹1,987.40 per share, and an intraday low of ₹1,920.80 per share.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight ...Read More
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This contract encompasses operations and maintenance (O&M) services, including overhauls, for the 5×660 MW thermal power plant located in Tiroda, Maharashtra. The arrangement will be carried out under a KPI-based contract framework, as indicated in the company's regulatory announcement.
The project has been given to a domestic entity and is set to be executed over a five-year duration, from April 1, 2026, to March 31, 2031.
According to the contract, Power Mech will provide extensive operation and maintenance services along with overhaul assistance for the thermal power units, adhering to the tender specifications and accompanying clarifications.
The overall value of the contract is ₹709.56 crore, not including goods and services tax (GST).
Power Mech 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.
Nonetheless, the company's operational performance showed signs of deterioration in this quarter. EBITDA fell by 20.7% to ₹159.3 crore, down from ₹201 crore in the corresponding period last year, while the EBITDA margin significantly decreased to 11.2% from 15%.
Power Mech Projects share price today opened at ₹1,961.05 apiece on the BSE, the stock touched an intraday high of ₹1,987.40 per share, and an intraday low of ₹1,920.80 per share.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight ...Read More
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Download the Mint app and read premium stories
AI Description
Power Mech Projects experienced a significant share price increase following a major contract win. The company secured a ₹709.56 crore contract for O&M services at a thermal power plant.