The shares of this small-cap firm engaged in the business of providing engineering services saw its share rise by 3 percent to an all-time 52 week high of Rs 6,290 per share after the firm disclosed the revised estimates for an earlier order received for the construction of the government medical college and hospital which currently stands at Rs 593.99 crores.
With a market capitalization of Rs 9,828.7, the shares of Power Mech Projects Limited company generated an overall return of 60 percent over the past year and 23 percent over the past 6 months.
What happened:
According to stock exchange filings, the firm has disclosed the revised estimates for an earlier order received as of April 21, 2023, for the construction of the government medical college and hospital for Uttara Khand Pey Jal Nigam Limited.
The earlier base gross value of the order stood at Rs 362 crores and the revised value of the order is at Rs 594 crores. The current increase in value is due to a change in the scope of work awarded by Uttarakhand Pey Jal Nigam Limited.
Financials:
Reviewing the financials of Power Mech Projects Limited on a year-on-year basis, the revenues rose by 17 percent from Rs 3,601 crores in FY23 to Rs 4,207 crores in FY24. In the same time frame, the net profits increased from Rs 207 crores to Rs 249 crores, demonstrating a 20 percent increase.
Ratios:
In terms of return ratios for the year 2024, it has reported a return on equity (ROE) of 13.50 percent and a return on capital employed (ROCE) of 22.21 percent. Further, the net profit for FY24 stood at 5.99 percent.
Order book:
The total order book of Power Mech Limited as of 31st March 2024 stood at Rs 57,053 crores and the company caters to prominent clients such as Siemens, Mitsubishi, L&T Power, Adnoc, Adani Group, Indian Oil, etc.
Shareholding Pattern:
As of June 2024, Power Mech Projects Limited shareholding pattern stood at 58.29 percent for promoters, 14.82 percent for the public, 5.24 percent for foreign institutional investors, and 21.65 percent for domestic institutional investors.
About the Company:
Incorporated in 1999 Power Mech Projects Limited is an engineering and construction company providing engineering services such as integrated service in erection, testing, and commissioning (ETC) of boilers. The firm is into sectors such as Industrial plants, railway and metro, roads, water, and Mining.
Written By Zahal
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