The shares of the leading infrastructure-construction Companies gained up to 4 percent after the company received a work order for civil construction and electrical work worth Rs 396.25 crore.
With a market capitalization of Rs 8,317.85 crore, the shares of Power Mech Projects Ltd were trading at Rs 5,261.75 per share, increasing around 1.03 percent as compared to the previous closing of Rs 5,208.05 apiece.
As per the exchange filing, Power Mech Projects Ltd received a work order from South East Central Railway for the construction of an electrified 4th Railway BG Line between Dadhapara SelahaDagori & Nipania- Bhatapara-Hathbandh stations in the state of Chhattisgarh worth Rs 396.25 crore.
Looking into the company’s financial, Power Mech Projects Ltd’s revenue increased by 22 percent from Rs 909 Crore in Q3FY23 to 1,108 Crore in Q3FY24. During the same period, net profits increased by 21 percent from Rs 51 crore to Rs 62 crore.
As of December 2023, Power Mech Projects Ltd accomplished 15 lakh sq. ft. of infrastructure development work in Vizag, AP, and 2.37 lakh MT of structural fabrication in one year. The firm has a total capacity of 68,375MW for O&M and AMC, including 6,792 MW commissioned in the power industry in overseas markets.
Steel Authority of India Limited granted the organization a Rs 30,438 Crore Mining Development and Operation Project for the Tasra Opencast Project in Jharkhand. The project aims to extract coking coal. The contract lasts 28 years, with a two-year development period.
The company has 68,646 MW Capacity addition of Boiler, Turbine, Generator, and Balance of Plant and Commissioned 711 TKM overhead Electrification works.
As of November 13, 2023, Power Mech Projects Ltd has an order book of Rs 57,328 crore which includes 165 ongoing projects, 23 overseas projects, and 77 Amc projects.
Power Mech Projects Limited is an engineering and construction business that offers integrated services in boiler, turbine, and generator installation, testing, and commissioning (ETC), balance of plant (BOP), civil works, and operation and maintenance (O&M).
Written by:- Abhishek Singh
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