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Power Mech Projects wins a ₹209.50 crore order from Hindustan Zinc for Captive Power Plant maintenance. The company reported a rise in Q4 net profit by 13.1% to ₹84.4 crore, revenue growth of 10.9% to ₹1,301.5 crore, and EBITDA margin growth at 11.5%.
Power Mech Projects Ltd. announced on Thursday, July 18, that it has been awarded a significant order from Hindustan Zinc, marking a substantial addition to Power Mech's portfolio of high-value projects. As a result, Power Mech Projects share price will remain in focus today.
The contract from Hindustan Zinc entails the operation and maintenance of its 3X91.5 MW CPP. The project is worth ₹209.50 crore and is expected to be completed within 48 months.
Power Mech Projects also reported robust financial results for the March quarter. The company’s net profit surged by 13.1% to ₹84.4 crore, up from ₹74.6 crore in the corresponding quarter of the previous year. This increase in profit highlights the company’s effective cost management and operational efficiency.
Explore: Power Mech Projects Ltd. Share Price
The company’s revenue from operations rose by 10.9%, reaching ₹1,301.5 crore compared to ₹1,174.1 crore in the same period last fiscal year. At the operating level, Power Mech’s EBITDA increased by 14.4% to ₹149.6 crore in Q4 FY24 from ₹130.8 crore in Q4 FY23. The EBITDA margin improved to 11.5% in the reporting quarter, compared to 11.1% in the corresponding period of the previous fiscal year. This margin improvement indicates better profitability and cost control.
Power Mech Projects share price showed a positive trend, closing 1.37% higher at ₹6,025 per share on the NSE. The stock has appreciated by 35% year-to-date, reflecting investor confidence and the company's solid performance.
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