Power Mech: This power infra company surged by over 800% in 3 years, 466% in 2 years

Two years ago, Power Mech Projects shares were trading astatine ₹928 each. Since then, they person surged by an awesome 466%, reaching the existent terms of ₹5,255 per share. Remarkably, implicit the past 3 years, the banal has delivered an adjacent much awesome instrumentality of 811%.

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Looking astatine the stock's yearly performance, it has consistently achieved multibagger returns implicit the past 3 years. In CY23, it recorded a summation of 116%, and a 111% leap successful the preceding year. Similarly, successful CY21, it saw a important summation of 117%.

This stellar show by the banal tin beryllium attributed to important bid wins and continuous betterment successful its financials with each passing quarter.

Power Mech Projects, with a marketplace capitalisation of ₹8,317 crore, is simply a small-cap banal and an integrated powerfulness infrastructure services institution successful India. It specialises successful providing broad services including erection, testing, and commissioning of boilers, turbines, and generators (ETC-BTG), equilibrium of works (BOP) works, civilian works, and cognition and attraction (O&M) services.

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Recent bid wins

In mid-April, the institution received orders nether 3 packages totaling ₹122.89 crore from the state-owned engineering steadfast BHEL. Additionally, it secured different bid from Jindal Steel Odisha Limited valued astatine ₹56.40 crore for the erection of structural alloy for coke oven and sheet mill buildings astatine JSOL Angul.

In March, the institution secured an bid worthy ₹305.81 crore from the South East Central Railway successful Chhattisgarh. This task entails the operation of an electrified 4th railway BG (Broad Gauge) enactment betwixt Rajnandgaon-Dongargarha and Bhilai-Durg nexus artifact stations successful Chhattisgarh.

During the aforesaid month, the institution besides secured contracts for the operation of the Upper Burhner Project Dam and Pressurized Pipe Irrigation Network from the Madhya Pradesh Water Resources Department, Government of Madhya Pradesh, valued astatine ₹541.62 crore, and the boiler and ESP bundle for overhaul, including spares, for the 2x125 MW Akrimota Thermal Power Station of Gujarat Mineral Development Corporation, valued astatine ₹116.95 crore.

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In February, it secured an bid worthy ₹396 crore from the Southeast Central Railway. 

The institution commenced its railway infrastructure projects successful 2016. Since then, it has developed expertise successful a scope of railway projects, including the operation of pre-engineered buildings and railway attraction workshops. 

It remains committed to expanding its beingness successful the railway sector, aiming for it to represent 8% to 10% of its full concern by FY26.

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Meanwhile, the institution has importantly expanded its beingness successful the h2o business. Over the adjacent 2 years, it anticipates that the h2o concern volition relationship for implicit 15% of its full operations.

Stake increase

During Q4FY24, overseas organization investors (FIIs) raised their involvement successful the institution to 5%, up from 4.2% successful the preceding quarter. Similarly, home organization investors (DIIs) besides accrued their holdings to 19.4% successful the March quarter, compared to 18.6% successful Q3FY24.

As of the extremity of Q4FY24, promoters support the bulk involvement of 60.4% successful the company, portion regular shareholders clasp a 15.2% stake, according to information from Trendlyne.

Disclaimer: We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 29 Apr 2024, 02:05 PM IST