Multibagger Power Infra Company Bags Order Worth Rs 114.30 Crore & Likely to Announce Bonus Issue on August 22; FIIs and DIIs Increased Stake in Q1!
The company’s shares have delivered an impressive return of over 400 per cent in the past 2 years.
This Small-Cap Power Infra company established in 1999, is an engineering and construction firm engaged in the erection, testing, and commissioning (ETC) of boilers, turbines, generators, and balance of plant (BOP), as well as civil works and operation and maintenance (O&M). The company handles ultra-mega power projects, supercritical thermal power projects, and subcritical power projects.
Recently, the company received an order valued at Rs 114.30 crore for the extension of operation and maintenance of the 1200 MW (2x600 MW) coal-based Mutiara Thermal Power Plant, owned by Coastal Energen Private Limited, located in Melamaruthur Village, Ottapidaram Taluk, Tuticorin District, Tamil Nadu. This extension is effective from October 1, 2024, for a period of one year.
Additionally, the Board of Directors will meet on Thursday, August 22, 2024, to consider a proposal for issuing bonus shares to the equity shareholders.
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On Wednesday, the shares of Power Mech Projects closed at around Rs 5662.20 per share on the BSE. The company’s current market capitalization stands at Rs 8950.89 crore. Additionally, the company’s shares have delivered a return of over 400 per cent in the past 2 years.
As per the Quarterly Results, in the Q1 FY25, Power Mech Projects recorded a revenue of Rs 1007 crore compared to Rs 865 crore. The operating profit stood at Rs 113 crore. The net profit stood at Rs 62 crore compared to a profit of Rs 51 crore. Looking at the annual performance, the company generated a revenue of Rs 4207 crore in FY24. The operating profit for FY24 was Rs 493 crore with a net profit of Rs 248 crore compared to a net profit of Rs 207 crore in FY23.
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Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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