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Geojit recommended accumulate rating on Power Mech Projects with a target price of Rs 4750 in its research report dated November 28, 2023.

Accumulate Power Mech Projects; target of Rs 4750: Geojit

Power Mech Consolidated September 2023 Net Sales at Rs 932.49 crore, up 20.89% Y-o-Y

The first order received from Hindustan Zinc entails operation and maintenance of 2x 91.2 MW including control room operation of captive power plant (CPP) at Dariba in Rajasthan. The consideration of the order stands at Rs 229.20 crore and is to be executed in a period of six years.Subsequently, the civil construction company has also won a Rs 396.01 crore order from Vedanta which involves erection, testing and commissioning assistance of boiler, turbine, generator for its 2x600 MW project site at Singhitarai village in Chhattisgarh. The company said the order is to be executed in 18 months.Power Mech Projects s an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M).The companys consolidated net profit jumped 29.1% to Rs 50.99 crore on 15.9% increase in net sales to Rs 865.13 crore in Q1 FY24 over Q1 FY23.

Power Mech gains on bagging multiple orders worth Rs 625 cr

 Power Mech Projects has received orders worth Rs 625.21 crore as under:1) Operation and Maintenance of 2x 91.2 MW including control room operation of CPP (Captive Power Plant) at Dariba, Udaipur, Rajasthan worth Rs.229.20 crore from Hindustan Zinc.2) Erection, Testing and Commissioning assistance of Boiler, Turbine, Generator for its project site for 2x600 MW Power Plant at Village Singhitarai, Chattisgarh(erstwhile known as Athena Chattisgarh Power) (ACPL) from Vedanta for Rs.396.01m crore. 

Power Mech Projects bags orders worth Rs 625 cr 

 Power Mech Projects announced the formation of a SpecialPurpose Vehicle (SPV) for execution of the Tasra MDO Project. The SPV has been incorporated with the name Kalyaneswari Tasra Mining. 

Power Mech Projects forms SPV named - Kalyaneswari Tasra Mining

Power Mech Projects announced that the 24th Annual General Meeting (AGM) of the company will be held on 28 September 2023.

Power Mech Projects to hold AGM

The Board of  Power Mech Projects at its meeting held on 25 August 2023 has approved fund raising up to Rs 350 crore. 

Board of  Power Mech Projects approves fund raising up to Rs 350 cr 

The first contract received from Raichur Power Corporation entails operation and maintenance of 2X800 MW coal based Yeramarus Thermal Power Plant (YTPS) at Chikkasugur, Raichur in Karnataka. The consideration of the order stands at Rs 158.67 crore and is to be executed for a period of 36 months.The subsequent order is awarded to the consortium of Power Mech and Purvottar Mining & Trading as mine developer cum operator for sand mining in Narmadapuram-2, Raisen and Narasingpur areas, respectively. Special purpose vehicles (SPVs) would be formed for execution of these contracts.This contract bagged from Madhya Pradesh State Mining Corporation is worth Rs 565.23 crore and is to be for a period of 3 years.Power Mech Projects s an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M).The companys consolidated net profit jumped 29.1% to Rs 50.99 crore on 15.9% increase in net sales to Rs 865.13 crore in Q1 FY24 over Q1 FY23.The scrip rose 0.24% to currently trade at Rs 3,966.35 on the BSE.

Power Mech bags multiple orders worth Rs 724 cr

Power Mech Projects has received the following orders worth Rs 723.90 crore. A) Order worth Rs.158.67 crore from Raichur Power Corporation for Operation and Maintenance of 2x800 MW Coal based Yeramarus Thermal Power Station (YTPS) at Chikkasugur, Raichur District, Karnataka. B) Order worth Rs.565.23 crore from Madhya Pradesh State Mining Corporation for Sand Mining as Mine Developer Cum Operator for a period of three years in the areas of Narmadapuram-2, Raisen and Narasingpur in the State of Madhya Pradesh. These Contracts would be executed through special purpose vehicles to be incorporated for the same.

Power Mech Projects wins orders worth Rs 723.9 cr 

Power Mech Projects will hold a meeting of the Board of Directors of the Company on 25 August 2023.

Power Mech Projects announces board meeting date

Power Mech Projects Ltd is an engineering and construction company, which engages in the provision of service in erection, testing, and commissioning of boilers, turbines and generators and balance of plant, civil works, and operation and maintenance. The company was founded by Kishore Babu Sajja on July 22, 1999 and is headquartered in Hyderabad, India.

Watchers	40
52-Wk Low	1,570.60
52-Wk High	5,069.45

Market Cap	69.12B
Volume (M)	30,438.00
52-Wk High	5,069.45
52-Wk Low	1,570.60

POWERMECH.NSE Power Mech Projects Ltd.

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