Shares of this multibagger infrastructure stock jumped up to 2 percent in Tuesday’s trading session after the company successfully bagged multiple orders worth Rs 658.57 crores. In the last six months, the company’s stock has gained nearly 30 percent for its stakeholders.
With a market capitalization of Rs 8,193.44 crores, the stocks of Power Mech Projects Limited started their trading session on Tuesday at Rs 5,140.25 and closed the session at Rs 5,183.05. The company’s scrip witnessed an intra-day high of Rs 5,245 indicating a gain of approximately 2 percent compared to the previous close of Rs 5,160.50 apiece.
Such bullish stock price movements were observed today after the company, in a recent filing with the Bombay Stock Exchange (BSE), intimated about the receipt of multiple orders totaling Rs 658.57 crores.
Firstly, the company received an order worth Rs 541.62 crores from the “Madhya Pradesh Water Resources Department”, Government of Madhya Pradesh to construct the ‘Upper Burhner Project Dam’ and ‘Pressurised Pipe Irrigation Network’. The time period for execution of the same is 60 months.
Secondly, the company received an order pertaining to a Boiler and ESP Package for Overhaul including spares of “Akrimota Thermal Power Station” of Gujarat Mineral Development Corporation worth Rs 116.95 crores. The time period for execution of the same is 11 months.
During the recent financial quarters, the company’s basic business indicators including the operating revenues as well as the bottom-line figures were on the rise with the former increasing from Rs 932 crores during Q2FY24 to Rs 1,108 crores during Q3FY24 and the latter, during the same period, took an upward shift from Rs 51 crores to Rs 62 crores.
Keeping a purview of the last one year, the company’s stock has successfully delivered multibagger returns of approximately 115 percent, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.15 lakhs.
As per the recent presentations, the company’s total order book value stands at Rs xx crores. In addition, the company’s total revenue mix, during the December 2023 quarter, shows a majority of contribution from the ‘civil works’ segment, followed by other segments including ‘Operations and Maintenance’ (O&M), erection segment, and many more.
Power Mech Projects Limited is an engineering and construction company based in India that operates in the business segment of construction and maintenance activities. Operating within as well as outside India, the company provides services such as testing, erection, and commissioning of boilers, generators, turbines, and balance of plant works, civil works, etc.
Written by Amit Madnani
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