Rs 54,000 crore order book: This civil construction company has incorporated a new special purpose vehicle (SPV) called Alyaneswari Tasra Mining Pvt Ltd!
The stock has gained over 100 per cent in just 6 months and 400 per cent in 2 years.
Power Mech Projects Limited (PMPL), one of the leading industrial services and construction company providing versatile and comprehensive services in the power and infrastructure sector, informed that the formation of a Special Purpose Vehicle (SPV) for the execution of the Tasra MDO Project has been incorporated with the name Kalyaneswari Tasra Mining Private Limited, the intimation of which was received by the company via mail.
The new company was incorporated on August 25, 2023. The intimation of incorporation was received by the company on August 28, 2023, at 10:13 p.m. The authorized capital of the company is Rs 15,00,000 divided into 1,50,000 equity shares of Rs 10 each. The paid-up capital of the company is Rs 1,00,000, which is divided into 10,000 equity shares of Rs 10 each. This means that the company has received Rs 1,00,000 from shareholders in exchange for shares of the company.
Earlier, the company has received the following orders worth Rs 723.90 crore. The first order, amounting to Rs 158.67 crore, is from Raichur Power Corporation Limited. The second order, worth Rs 565.23 crore, comes from Madhya Pradesh State Mining Corporation Limited. These contracts will be fulfilled through specially established entities and will be concluded within 3 years from the Letter of Intent (LOI).
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. Including all the orders, the company's order book now stands at over Rs 54,000 crore.
On Tuesday, shares of PMPL surged 1.46 per cent to Rs 4,058.65 per share from its previous closing of Rs 4,000.10. The stock’s intraday high was Rs 4,072.45 and its intraday low was Rs 4,001.90.
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The company has a market cap of Rs 6,050 crore and announced a stellar dividend of Rs 2 per share for a face of Rs 10 each. The stock gave multibagger returns of over 100 per cent in just 6 months and 400 per cent in 2 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.