Latest news with #PowerMech
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Business Standard
3 days ago
- Business
- Business Standard
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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Business Standard
23-05-2025
- Business
- Business Standard
Here's why Power Mech shares were buzzing in trade on May 23; details
Power Mech Projects share price: Power Mech Projects (Power Mech) shares were buzzing in trade on Friday, May 23, 2025, with the scrip rising up to 14.70 per cent higher at Rs 3,380 per share. However, at 11:50 AM, Power Mech shares were trading 6.88 per cent higher at Ra 3,149.65 per share. In comparison, BSE Sensex was trading 0.99 per cent higher at 81,749.50 level. Why did Power Mech shares rally today? Power Mech shares rose after posting strong results in the March quarter of financial year 2025 (Q4FY25). 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. Meanwhile, profit before tax (PBT) jumped 48.2 per cent Y-o-Y to ₹180.9 crore, from ₹122 crore in Q4FY24. Power Mech dividend Power Mech board has approved the final dividend on equity shares at the rate of 12.5 per cent i.e. ₹1.25 per equity share of ₹10 each for the financial year ended March 31, 2025. 'The above-mentioned dividend, if approved by the shareholders in the ensuing annual general meeting, shall be paid within 30 days of such approval,' the company said. About Power Mech Projects Power Mech Projects is among the leading infrastructure and construction companies with a strong focus on the power and infrastructure sectors. The company offers services such as the erection, testing, and commissioning (ETC) of boilers, turbines, and generators, along with Balance of Plant (BOP) works. Power Mech Projects is also actively involved in the operation and maintenance (O&M) of power plants and undertakes civil construction works related to power projects. Its expertise spans across engineering, procurement, and construction (EPC), making them a key player in delivering integrated solutions for power infrastructure. In addition to its core power sector operations, the company has diversified into other infrastructure domains including railways, mining, steel, transmission and distribution, and process industries. With a growing global footprint, the company has executed projects both in India and internationally. Its broad service offerings include engineering design, project management consultancy, procurement, logistics, and inventory management.
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Business Standard
13-05-2025
- Business
- Business Standard
Power Mech wins ₹972 cr township project at Yadadri Thermal Power Station
Power Mech Projects Limited, in an exchange filing on Tuesday, announced that it has been awarded a construction contract worth ₹971.98 crore (excluding GST) by the Telangana Power Generation Corporation (TGGENCO). The project involves the engineering, design and construction of an integrated residential township at the Yadadri Thermal Power Station located in Veerlapalem, Dameracherla Mandal, Nalgonda district, Telangana. The scope of work includes independent and multistorey residential quarters, a hospital, school, clubhouse, commercial complexes, indoor stadium, sports complex and various infrastructure facilities. Key infrastructure components will include site levelling, roads, drainage, potable water tanks, overhead storage reservoirs, sewage treatment, rainwater harvesting systems and a bridge over the Tungapadu Vagu. A sub-station, street lighting and internal compound walls are also part of the development. The project is to be completed within 30 months from the site handover date, Power Mech said. Telangana State Power Generation Corp township project Telangana State Power Generation Corporation is the primary government-owned organisation responsible for electricity generation in the state of Telangana. As of 2024, the corporation has more than 10,000 employees. During an inspection of the under-construction 4,000 MW thermal power plant at Veerlapalem village in Nalgonda district, then Chief Minister K Chandrashekar Rao directed officials to build a township spanning 100 acres to accommodate the families of approximately 10,000 workers associated with the plant. Subsequently, TSGENCO announced plans to develop an integrated township for the Yadadri Thermal Power Station in November 2022. Power Mech confirmed that there is no promoter or related party interest involved in the awarding of this domestic contract. Following the news, Power Mech's shares increased 2 per cent to ₹2,786.10 on the BSE at 10:33 am on Tuesday.
