2 hours ago
Power Mech Projects Ltd has secured a ₹709.56 crore contract from Adani Infrastructure Management Services Ltd for operations and maintenance services at a major thermal power plant in Maharashtra.
The contract covers operations and maintenance (O&M) services, including overhauling, for the 5×660 MW thermal power plant in Tiroda, Maharashtra. The agreement will be executed under a KPI-based contract structure, according to the company’s regulatory filing.
The project has been awarded by a domestic entity and will be executed over a 60-month period, from April 1, 2026 to March 31, 2031.
Under the agreement, Power Mech will undertake comprehensive O&M services and overhaul support for the thermal power units, in line with the tender documents and related clarifications.
The total contract value stands at ₹709.56 crore, excluding goods and services tax (GST).
Q3 Results
Power Mech reported a 14.6% year-on-year rise in net profit to ₹94 crore in Q3, compared with ₹82 crore in the corresponding quarter last year. Revenue from operations increased 6.1% to ₹1,419 crore, up from ₹1,338 crore a year earlier.
However, the company’s operating performance weakened during the quarter. EBITDA declined 20.7% to ₹159.3 crore, compared with ₹201 crore in the year-ago period, while the EBITDA margin contracted sharply to 11.2% from 15%.
Shares of Power Mech Projects Ltd ended lower on Monday, March 16, by 6.20% at ₹1,860.00 on the NSE.
