Power Mech Projects Share Price Surges After ₹710 Crore Adani Contract | Stock Market Today

Market Performance

Power Mech Projects witnessed a notable surge in its share price on Tuesday, March 17. The stock rose over 5%, reflecting renewed investor interest following the announcement of a major contract win.

• Opening Price (BSE): ₹1,961.05
• Intraday High: ₹1,987.40
• Intraday Low: ₹1,920.80

The stock’s momentum was driven by a high-value contract from Adani Infrastructure Management Services Ltd, a significant development in the company’s order book and operational portfolio.

Power Mech Projects Bags ₹710 Crore Adani Contract

Power Mech Projects secured a ₹709.56 crore contract for operations and maintenance services at a thermal power facility in Tiroda, Maharashtra.

Key details of the contract:

• Covers operations and maintenance (O&M), including overhauls, for a 5×660 MW thermal power plant
• Executed under a KPI-based framework
• Duration: 5 years (April 1, 2026 – March 31, 2031)
• The contract value excludes GST

This project adds a substantial addition to Power Mech’s O&M portfolio, emphasizing the company’s role in supporting large-scale thermal power operations in India.

Company Financial Highlights – Q3 Results

Power Mech Projects also released its Q3 financial results, showing growth in net profits and revenue, but a decline in operational margins.

• Net Profit: ₹94 crore (up 14.6% from ₹82 crore YoY)
• Revenue from Operations: ₹1,419 crore (up 6.1% from ₹1,338 crore YoY)
• EBITDA: ₹159.3 crore (down 20.7% from ₹201 crore YoY)
• EBITDA Margin: 11.2%, decreased from 15% last year

While net profit and revenue growth indicate steady business expansion, the decline in EBITDA and margins highlights operational challenges during the quarter.

Summary

Power Mech Projects is in the spotlight today as its share price jumped following the high-value contract from Adani Infrastructure. With the Q3 results showing revenue and profit growth, the company demonstrates resilience despite margin pressures.

The contract underlines Power Mech’s expertise in thermal power O&M services, and the stock’s movement today reflects market attention on this significant development. Investors and market observers will closely watch how this contract contributes to the company’s operational performance over the next five years.

Source: Livemint