Review

POWER MECH PROJECTS LTD.

Ticker : 539302
FV: Rs10
Target : Rs 939.50/354.10

We recommended Power Mech Projects Ltd in volume no. 37, issue no. 46 (dated September 06, 2021) when the scrip was trading at Rs 835.95. On the consolidated quarterly front, the company recorded a strong increase in net sales and operating income, which stood at Rs 622.85 crore for Q1FY22 as compared to the net sales & operating income of Rs 275.01 crore reported for Q1FY21. The operating loss turned positive, recording an operating profit of Rs 71.24 crore in Q1FY22 as against an operating loss of Rs 12.01 crore incurred in Q1FY21. The company reported a net profit of Rs 32.75 crore in Q1FY22 as against the operating loss of Rs 32.59 crore recorded in Q1FY21. With a robust set of financial numbers, the company has been growing in an upward trajectory in FY22. Hence, we recommend our investor-reader to BOOK PROFIT at Rs 909.5 per share as of September 16, 2021, with a gain of 8.79 per cent.