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Power Mech shares rise after ₹159 crore solar power project orders
Shares of Power Mech Projects rose over 2.5 per cent on Friday after it secured orders worth ₹159 crore from Bihar State Power Generation Company Limited (BSPGCL).
The company's stock rose as much as 2.56 per cent during the day to ₹3,236 per share. The stock pared gains to trade 1.5 per cent higher at ₹3,201 apiece, compared to a 0.23 per cent advance in Nifty 50 as of 11:00 AM.
Shares of the company extended gains to their fourth straight day on Friday, gaining over 8 per cent in the process. From its March low, the stock has surged nearly 83 per cent. The counter has risen 25 per cent this year, compared to an 8.12 per cent advance in the benchmark Nifty 50. Power Mech Projects has a total market capitalisation of ₹10,185.03 crore, according to BSE data. Track LIVE Stock Market Updates Here
Power Mech bags orders worth ₹159 crore
The company secured solar power project orders from BSPGCL under the PM-KUSUM Component C2 Scheme for feeder-level solarisation, according to an exchange filing on Thursday.
The projects involve setting up grid-connected distributed solar power plants at three power sub-stations in Bihar, Rajoun (4.221 Mw), Sakahara (4.285 Mw), and Sambhuganj (5.155 Mw)—with a total capacity of 13.66 Mw (AC). The combined value of the contracts is approximately ₹159 crore, with estimated revenue generation over the Power Purchase Agreements (PPAs) tenure.
The orders, awarded on a Build-Own-Operate (BOO) basis, will be executed within 12 months, according to the statement. The projects are backed by 25-year PPAs with Bihar DISCOMs and are eligible for government subsidies of ₹1.05 crore per Mw (central) and ₹0.45 crore per Mw (state).
Power Mech Q4 results
The company reported a 53.8 per cent jump in consolidated net profit to ₹129.8 crore in Q4FY25, as against ₹84.4 crore in the same quarter a year ago (Q4FY24), influenced by robust revenue growth and steady operating margins. Revenue from operations zoomed 42.34 per cent Y-o-Y to ₹1,853.3 crore in Q4FY25, from ₹1,301.5 crore in Q4FY24.
About Power Mech
The company is among the leading infrastructure and construction companies with a strong focus on the power and infrastructure sectors. It offers services such as the erection, testing, and commissioning (ETC) of boilers, turbines, and generators, along with Balance of Plant (BOP) works.
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