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Power Mech Projects Bags ₹709.56 Crore O&M Order from Adani Group
Power Mech Projects Limited has secured a major domestic contract valued at ₹709.56 Crores from Adani Infrastructure Management Services Limited. The scope of work includes KPI-based Operations and Maintenance (O&M) services and overhauling for a 5x660MW thermal power plant in Tiroda, Maharashtra. The contract is scheduled for execution over a 60-month period, commencing from April 1, 2026, until March 31, 2031. This large-scale order provides significant long-term revenue visibility for the company's O&M segment.
Key Highlights
Total contract value of ₹709.56 Crores excluding Goods & Services Tax.
Execution period of 60 months (5 years) starting from April 1, 2026.
Scope includes O&M and overhauling for a 3,300 MW (5x660MW) thermal power plant.
Order awarded by Adani Infrastructure Management Services Limited, a key domestic player.
The contract is KPI-based, ensuring performance-linked revenue streams.
💼 Action for Investors
This order reinforces Power Mech's strong position in the power services sector and provides long-term revenue stability. Investors should maintain a positive outlook while monitoring the company's execution efficiency.
Power Mech Projects Order Book Reaches ₹57,811 Cr; Targets ₹10,000 Cr Inflow in FY26
Power Mech Projects (PMPL) reported a massive order book of ₹57,811 Cr (including MDO), providing strong revenue visibility for over 3 years. The company is strategically pivoting from pure construction to integrated BOP EPC and high-margin O&M services, currently managing 40+ GW globally. PMPL is aggressively entering the renewables space with a 250 MW BESS project and Solar BOO models, targeting 15-16% equity IRRs. With ₹7,766 Cr in order inflows already achieved in FY26 YTD, the company is on track to hit its ₹10,000 Cr annual target.
Key Highlights
Total order book stands at ₹57,811 Cr, with FY26 YTD order inflows reaching ₹7,766 Cr.
Managing 40+ GW of power plant O&M globally, accounting for approximately 16% of India's thermal base.
Executing two major MDO contracts for SAIL and CCL with a combined value of ₹39,594 Cr over 25-26 years.
Diversifying into green energy with a ₹1,563 Cr BESS order and a 13.66 MW Solar BOO project.
Maintaining 11-12% EBITDA margins while transitioning to a digitally enabled technical services platform.
💼 Action for Investors
Investors should focus on the company's successful transition into high-margin BESS and MDO segments which offer long-term annuity-like cash flows. The strong order book and pivot to integrated EPC roles suggest a robust growth outlook and potential for valuation re-rating.
Power Mech Q3 FY26 PAT Rises 15% to ₹100 Cr; Order Backlog Reaches ₹56,800 Cr
Power Mech Projects Limited reported a steady Q3 FY26 with PAT growing 15% YoY to INR 100 crore and revenue increasing 6% to INR 1,433 crore. The company has a massive order backlog of INR 56,800 crore (including MDO), providing high revenue visibility for several years. Key strategic wins include a INR 2,550 crore EPC order for the Singareni thermal project and a breakthrough INR 1,563 crore battery energy storage project in West Bengal. Management is targeting a total order intake of INR 10,000 crore for FY26, having already achieved INR 6,761 crore YTD.
Key Highlights
Q3 FY26 PAT increased 15% YoY to INR 100 crore with PAT margins improving to 7.02%.
Total order backlog stands at INR 56,800 crore, including MDO projects; excluding MDO, the backlog is INR 17,300 crore.
Secured a major INR 2,550 crore Balance of Plant (BOP) EPC contract from BHEL for the Singareni project.
Entered the energy storage segment with a 1,000 MWh battery project expected to generate INR 1,563 crore over 15 years.
Net debt remains well-controlled at INR 233 crore with a low debt-equity ratio of 0.35x.
💼 Action for Investors
Investors should remain positive given the company's record order book and successful diversification into high-margin energy storage and EPC segments. Monitor the execution timelines of the large-scale Singareni project and the ramp-up of the new battery storage vertical.
Power Mech Q3 FY26: Revenue up 6% to ₹1,433 Cr, Order Backlog reaches ₹56,806 Cr
Power Mech Projects reported a steady Q3 FY26 with revenue growing 6% YoY to ₹1,433 crore and EBITDA rising 8% to ₹173 crore. The company maintains a massive total order backlog of ₹56,806 crore (including MDO), providing over three years of revenue visibility. New order inflows for FY26 YTD reached ₹6,761 crore, representing 68% of the annual target, bolstered by a strategic ₹1,563 crore Battery Energy Storage System (BESS) win. Management highlighted the operationalization of the KBP mine in November 2025 as a key driver for future margin expansion.
Key Highlights
Q3 FY26 Revenue grew 6% YoY to ₹1,433 Cr; 9M Revenue increased 17% to ₹3,987 Cr.
Total order backlog stands at ₹56,806 Cr, with high-margin MDO contracts worth ₹39,500+ Cr.
Achieved ₹6,761 Cr in new order inflows YTD, including a ₹2,500+ Cr BOP EPC package from BHEL.
EBITDA margins remained stable at 12.08% despite provisions for the new labor code.
Strategic entry into the BESS market with a ₹1,563 Cr project under the Build-Own-Operate model.
💼 Action for Investors
The company offers strong revenue visibility through its massive order book and is successfully diversifying into high-margin segments like MDO and BESS. Investors should monitor the execution ramp-up in the mining division and the recovery of the water segment as primary catalysts for further re-rating.
Power Mech Projects Q3 FY26 Results Approved; Company Changes RTA to VCCIPL
Power Mech Projects Limited held its board meeting on February 10, 2026, to approve the un-audited financial results for the quarter and nine months ended December 31, 2025. The consolidated performance was supported by nine Indian subsidiaries which contributed ₹61.71 crore in revenue and ₹2.90 crore in net profit for the quarter. However, overseas operations showed weakness, with three subsidiaries reporting a quarterly loss of ₹3.18 crore. Additionally, the board approved changing the Registrar and Share Transfer Agent (RTA) from KFin Technologies to Venture Capital and Corporate Investments Private Limited (VCCIPL).
Key Highlights
Approved standalone and consolidated financial results for Q3 and 9M FY26.
Nine Indian subsidiaries reported Q3 revenue of ₹61.71 crore and PAT of ₹2.90 crore.
Nine-month revenue from Indian subsidiaries reached ₹201.55 crore with a PAT of ₹8.74 crore.
Overseas subsidiaries recorded a quarterly loss of ₹3.18 crore and a nine-month loss of ₹13.43 crore.
Transition of RTA from KFin Technologies to VCCIPL approved following the completion of KFin's tenure.
💼 Action for Investors
Investors should examine the full consolidated financial statement to evaluate if the growth in Indian subsidiaries compensates for the widening losses in overseas units. Monitor the RTA transition for any impact on shareholder services.
Power Mech Projects Q3 Revenue Rises to ₹1,419 Cr; Approves Change in RTA
Power Mech Projects Limited reported a consolidated revenue of ₹1,419.56 crore for the quarter ended December 31, 2025, up from ₹1,337.97 crore in the same period last year. The company's Profit Before Tax (PBT) remained stable at ₹123.86 crore compared to ₹121.32 crore in Q3 FY25. Alongside the results, the board approved changing the Registrar and Share Transfer Agent (RTA) from KFin Technologies to Venture Capital and Corporate Investments Private Limited. The results reflect steady operational performance with a significant portion of expenses driven by contract execution costs.
Key Highlights
Consolidated revenue from operations grew to ₹1,419.56 crore in Q3 FY26 versus ₹1,337.97 crore in Q3 FY25.
Profit Before Tax (PBT) for the quarter stood at ₹123.86 crore, showing marginal growth over the previous year's ₹121.32 crore.
Contract execution expenses were the largest cost driver at ₹811.86 crore for the quarter.
Employee benefit expenses rose significantly to ₹191.86 crore from ₹121.53 crore in the year-ago quarter.
The company is transitioning its RTA services to Venture Capital and Corporate Investments Private Limited following the completion of KFin's tenure.
💼 Action for Investors
Investors should maintain a positive outlook given the steady revenue growth, but monitor the rising employee and contract execution costs which are impacting margins. The change in RTA is a routine administrative update and should not impact core business operations.
Power Mech Q3 Revenue Rises 6% YoY to ₹1,419.56 Cr; PBT at ₹123.86 Cr
Power Mech Projects reported a steady performance for the quarter ended December 31, 2025, with consolidated revenue from operations growing 6.1% YoY to ₹1,419.56 crore. Profit before tax (PBT) saw a marginal increase to ₹123.86 crore compared to ₹121.32 crore in the same quarter last year. The company also announced a change in its Registrar and Share Transfer Agent (RTA) from KFin Technologies to Venture Capital and Corporate Investments Private Limited. While domestic operations remain the primary driver, losses in overseas subsidiaries slightly weighed on the consolidated bottom line.
Key Highlights
Consolidated Revenue from operations increased to ₹1,419.56 crore from ₹1,337.97 crore in the year-ago period.
Profit Before Tax (PBT) stood at ₹123.86 crore for Q3 FY26, compared to ₹121.32 crore in Q3 FY25.
Contract execution expenses, the largest cost component, rose to ₹811.86 crore during the quarter.
Overseas subsidiaries reported a combined net loss of ₹3.18 crore for the quarter ended December 31, 2025.
The Board approved the appointment of Venture Capital and Corporate Investments Private Limited as the new RTA.
💼 Action for Investors
Investors should maintain a neutral stance as the earnings show stable but modest growth; focus should remain on the company's ability to improve margins and manage overseas losses. Monitor upcoming order book announcements for future growth visibility.
Power Mech Projects Secures ₹3,126 Cr BESS Order from WBSEDCL
Power Mech Projects' subsidiary, PM Green, has secured a major contract for a 1 GWh Battery Energy Storage System (BESS) from West Bengal State Electricity Distribution Company. The project is valued at ₹1,563 crore, with a greenshoe option to double the capacity to 2 GWh, bringing the total potential revenue to ₹3,126 crore. This project follows a Build, Own, Operate (BOO) model with a 100% off-take guarantee and a 15-year contract duration. This marks the company's significant entry into the renewable energy storage vertical, diversifying its portfolio beyond traditional power services.
Key Highlights
Total potential revenue of ₹3,126 crore including the 1 GWh greenshoe option
Initial capacity of 250 MW / 1,000 MWh to be established at Goaltore Substation
Project structured on a Build, Own, Operate (BOO) model with a 15-year contract duration
Construction period set for 18 months from the signing of the Purchase Agreement
Marks the company's debut in the large-scale energy storage solutions market
💼 Action for Investors
Investors should view this as a major positive development that diversifies revenue streams into the high-growth green energy storage sector. Monitor the execution timeline and the exercise of the greenshoe option for further valuation upside.
Power Mech Projects Secures Massive ₹3,126 Crore BESS Order from WBSEDCL
Power Mech Projects' subsidiary, PM Green Private Limited, has secured a significant contract worth ₹3,126 crores from West Bengal State Electricity Distribution Company Limited. The project involves setting up a 250 MW / 1,000 MWh Battery Energy Storage System (BESS) under a Build-Own-Operate (BOO) model, including a greenshoe option for an additional 250 MW. The contract includes a 100% off-take guarantee and spans an 18-month commissioning period followed by 15 years of operations and maintenance. This marks a major strategic entry for the company into the high-growth energy storage sector.
Key Highlights
Total order value of ₹3,126 Crores excluding GST, inclusive of the Greenshoe option.
Project involves a 250 MW / 1,000 MWh standalone Battery Energy Storage System (BESS).
Execution timeline of 18 months for commissioning and 180 months (15 years) for O&M.
100% off-take guarantee from WBSEDCL provides high revenue visibility.
Project follows the Build-Own-Operate (BOO) model, indicating a shift towards asset ownership.
💼 Action for Investors
Investors should look favorably on this order as it significantly boosts the order book and establishes the company in the renewable energy storage space. Monitor the company's capital expenditure plans and funding strategy for this BOO project.
Power Mech Shareholders Reject ESOP 2026 Proposals; Approve Higher Borrowing Limits
Power Mech Projects Limited's shareholders have rejected three key special resolutions related to the implementation of the Employee Stock Option Plan (ESOP) 2026. The resolutions failed to meet the mandatory 75% threshold for special resolutions, receiving only 71.70% approval with 28.30% of votes cast against. However, shareholders successfully passed a resolution to increase the company's borrowing powers and create security with an 87.64% majority. This indicates significant shareholder resistance to the proposed equity compensation structure while maintaining support for the company's debt-based expansion plans.
Key Highlights
Three special resolutions for ESOP Plan 2026 were defeated, receiving only 71.70% assent against the required 75%.
The resolution to increase borrowing powers and create security passed with 87.64% of votes in favor (23,481,937 shares).
Approximately 7.58 million shares voted against the ESOP proposals, suggesting significant institutional or minority shareholder dissent.
The ESOP rejection included grants to employees of the company, subsidiaries, and grants exceeding 1% of issued capital.
The voting process concluded on December 20, 2025, with results finalized on December 23, 2025.
💼 Action for Investors
Investors should monitor management's next steps regarding employee compensation, as the rejection of the ESOP plan may require a revised proposal with less dilution. The approval for increased borrowing limits is a positive signal for the company's ability to fund future projects, though debt levels should be monitored.