Multibagger stock with a strong customer base with well-known players like BHEL, ONGC, Tata Power, Adani, and many others, jumped 4 percent in the day’s trade upon receiving a work order worth Rs. 305.81 Crores from South East Central Railway.
With a market capitalization of Rs. 7,512 Crores, the shares of Power Mech Projects Limited were trading at Rs. 4,752, up 3.64 percent from its previous day’s close price of Rs. 4,585.05. It has delivered multibagger returns of 112 percent in a year.
Power Mech Projects Limited has received a work order worth Rs. 305.81 Crores from the South East Central Railway for the Construction of the electrified 4th Railway BG Line between Rajnandgaon-Dongargarha and Bhilai- Durg link block station, in the state of Chhattisgarh in South East Central Railway on EPC basis within 30 Months.
Power Mech Projects Limited is an engineering and construction company engaged in the business of erection, testing, commissioning, operation, and maintenance of boilers, power plants, sub-critical power projects, infra projects, and many more across sectors like Mining, roads, water, Industrial plants, and others.
Power Mech Projects Limited has a strong order book worth Rs. 57,328 Crores, with 165 total ongoing projects of which 77 are O&M/ AMC projects(domestic) and 23 overseas projects.
It has a good client base with well-known players like BHEL, ONGC, JSPL, Siemens, Tata Power, Adani, Dangote, CESC, Vedanta, Coal India and many others.
Its revenue from operations grew by 21.82 percent from Rs. 909 Crores in Q3FY23 to Rs. 1,108 Crores in Q3FY24 accompanied by increasing profits of Rs. 51 Crores to Rs. 62 Crores.
Written by: Bharath K.S
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