Power Mech Projects Wins ₹209.5 Crore Order from Hindustan Zinc

19 Jul 2024 , 02:39 PM

Power Mech Projects, a prominent infrastructure and construction firm based in Hyderabad, India, announced on July 18, 2024, that it has secured a significant order worth ₹209.50 Crore from Hindustan Zinc. This order is for the operation and maintenance of a 3X91.5 MW captive power plant (CPP) at Hindustan Zinc. The project is slated to be executed over a period of 48 months.

In the financial realm, Power Mech Projects has demonstrated notable performance. For the March quarter of the fiscal year, the company’s net profit saw a robust increase of 13.1%, rising to ₹84.4 Crore from ₹74.6 Crore in the same period last year. This uptick reflects the company’s strong operational efficiencies and growth.

The revenue from operations also saw a substantial boost, climbing by 10.9% to reach ₹1,301.5 Crore, compared to ₹1,174.1 Crore in the previous year. This growth in revenue highlights the company’s expanding footprint and operational success.

At the time of writing on July 19, 2024 at 2:31 pm shares of Power Mech Projects is  currently trading at ₹5951 which is a 1.38% dip than the previous close. Power Mech Projects stock has gained a total of 56% in the last one year, and witnessed a 32% gain since the beginning of the year.

At the operating level, Power Mech Projects reported an increase in EBITDA (earnings before interest, tax, depreciation, and amortization) of 14.4%, amounting to ₹149.6 Crore for the fourth quarter, up from ₹130.8 Crore in the corresponding quarter of the prior year. The EBITDA margin improved slightly to 11.5% from 11.1% in the previous fiscal year, indicating better operational efficiency.

Established in 1999 by S. Kishore Babu, Power Mech Projects Limited has evolved into a leading player in the infrastructure and power sectors. The company boasts a global presence and is recognized for its extensive range of services, including power plant construction, maintenance, and operations. It operates with a large workforce of 15,000 direct and 25,000 indirect employees and manages an impressive fleet of cranes and machinery.

Power Mech Projects has handled various projects, including Ultra Mega Power Projects, Super Critical Thermal Power Projects, Waste Heat Recovery Steam Generators, Gas Turbine Generators, and Hydro Electric Projects. The company’s expertise extends to the erection, testing, commissioning, maintenance, and modernization of power plants.

In addition to its major operations in India, Power Mech has established a global footprint with operations in over ten countries. The company has subsidiaries and joint ventures such as Power Mech Industry Private Limited in Noida for fabrication and repair, Power Mech Projects Ltd LLC in Oman, MAS Powermech Arabia in Saudi Arabia, and GTA Powermech Nigeria Limited for projects in Africa.