Synopsis:
Power Mech Projects Ltd has secured a ₹370.84 crore domestic order from Adani Power’s subsidiary, Mahan Energen Ltd, for civil and structural work on two 800 MW units in Mahan Phase-III, Singrauli.
The shares of a Small-Cap company, specializing in providing engineering, procurement, and construction (EPC) services for power and infrastructure projects, are in focus upon receiving a work order from Adani Power for Rs. 370.84 crores for civil and other work
With a market capitalisation of Rs. 9,681.22 crores on Thursday, the shares of Power Mech Projects Ltd jumped upto 0.5 percent, making a high of Rs. 3136.50 per share compared to its previous closing price of Rs. 3120.05 per share.
Power Mech Projects Ltd, engaged in providing engineering, procurement, and construction (EPC) services for power and infrastructure projects, has announced the receipt of a significant domestic order worth Rs. 370.84 crores (excluding GST and BOCW Cess) from Mahan Energen Limited, a subsidiary of Adani Power Limited.
The contract involves the execution of civil works and erection of prefabricated structural steel for BTG Units 1 and 2 under Mahan Phase-III (2 x 800 MW) in Singrauli, Madhya Pradesh.
The scope includes key infrastructure such as the main powerhouse, central control building, ESP, FGD, limestone handling system, and switchyard, along with other ancillary works, and the project is to be completed within 30 months from the date of the notice to proceed.
Financials & Others
The company’s revenue rose by 28.39 percent from Rs. 1,007 crore to Rs. 1,293 crore in Q1FY25-26. Meanwhile, the Net profit rose from Rs. 62 crore to Rs. 81 crore during the same period.
The company has shown strong financial performance, delivering a 20.1% CAGR in profit growth over the last 5 years. It maintains solid return ratios with an ROCE of 22.9% and ROE of 16.3%, indicating efficient use of capital. Additionally, its low debt-to-equity ratio of 0.34 reflects a healthy and manageable leverage position.
Power Mech Projects Limited, founded in 1999 and headquartered in Hyderabad, is a leading infrastructure and construction company specializing in power sector services. It offers a wide range of services, including erection, testing, commissioning, operation, maintenance, and modernization of power plants covering thermal, hydro, and renewable energy projects.
It is a leading industrial services and construction company specializing in the power and infrastructure sectors. It currently manages 164 ongoing projects, including 61 domestic operation and maintenance (O&M)/annual maintenance contracts (AMC), and 22 overseas projects.
The company’s order book has grown significantly from Rs. 3,524 crore at its IPO in FY16 to Rs. 53,972 crore as of June 30, 2025, including major contracts and execution orders across diverse sectors such as industrial plants, roads, railways, metro, water, and mining.
Power Mech has expanded into new geographies, including Uganda, Sudan, Kenya, Morocco, Iraq, and Qatar, supported by a strong management team with extensive industry experience. The company employs over 10,900 people as of Q1 FY26 and is recognized as the largest O&M service provider in its segment. The company has a strong set of marquee clients, including BHEL, CCL, Jindal Steel & Power, Tata Power, Siemens, CESC, Vedanta, Adani, RITES, RVNL, and others.
Written by Sridhar J
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