Rs 54,437 crore order book: This multibagger civil construction company receives new orders worth Rs 2,192.41 crore!

The stock gave multibagger returns of over 120 per cent in just 1 year and a whopping 900 per cent in 3 years.

Power Mech Projects Ltd informed that the company has received orders worth Rs 2,192.41 crore as detailed below:

1) Contract for revival & operations and maintenance (O&M) services at coal-fired power plant consisting of 2x150 MW (Phase-1) and 2x350 MW (Phase-2) sub-critical units located at village-Thamminapatnam, District, Tirupati, Andhra Pradesh from Meenakshi Energy Limited for Rs 674.81 crore. The order is for 5 years.

2) Mining of river bed mineral (RBM) located in the river bed of Dehradun, Haridwar, Udham Singh Nagar and Nainital Districts for Rs 1,517.60 crore from Directorate of Geology and Mining, Dehradun, Uttarakhand. This contract would be executed through a special purpose vehicle to be incorporated for the same. The order is for 5 years.  

Power Mech Projects Limited has been awarded the biggest order of Rs 30,438 crore mine development and operation project by the Steel Authority of India Ltd. The project will be executed by a consortium of PMPL and PC Patel Infra, with PMPL holding a 74 per cent stake. As of November 13, 2023, the company’s order book stands at Rs 54,437 crore. Including the above orders, the company's order book now stands at over Rs 55,659 crore.

Today, shares of PMPL surged 0.34 per cent to Rs 4,495 per share from its previous closing of Rs 4,479.65. The stock’s intraday high was Rs 4,568.70 and its intraday low was Rs 4,480.

The company has a market cap of over Rs 7,000 crore. The stock gave multibagger returns of over 120 per cent in just 1 year and a whopping 900 per cent in 3 years. Investors should keep an eye on this Small-Cap civil construction company’s stock.

Disclaimer: The article is for informational purposes only and not investment advice.