Power Mech Projects shares gained 3.70% to ₹2,486 during Wednesday's trading session after the company announced securing a ₹549.37 crore contract from Moxie Power Generation Ltd, a company of the Adani Group. According to The Economic Times, the stock has shown consistent positive momentum, with shares gaining nearly 3% on Tuesday to reach the day's high of ₹2,441 on NSE following the announcement of the ₹279.20 crore contract from Telangana Power Generation Corporation and the ₹549.37 crore contract from Adani Group's Moxie Power Generation. The company's strong market performance reflects investor confidence in the company's continued order wins and sustained revenue visibility across multiple sectors.
Power Mech Projects has secured a significant ₹549.37 crore contract from Moxie Power Generation Ltd, a company of the Adani Group, for comprehensive operation and maintenance services at the 2x600 MW Tuticorin thermal power plant. As per The Economic Times, the contract involves providing complete operation and maintenance services for the 2x600 MW Moxie Power Generation Ltd Tuticorin Thermal Power Plant (TPP). The contract has been awarded by a domestic entity and covers operations and maintenance services, with the contract period spanning 60 months from October 1, 2026 to September 30, 2031. The order is valued at ₹549.37 crore, including all taxes and duties, except Goods and Services Tax (GST). The company confirmed that the promoter or promoter group has no interest in the entity awarding the contract, and the order does not fall under related-party transactions.
The ₹549.37 crore Adani contract covers complete operation and maintenance services at the 2x600 MW Tuticorin TPP operated by Moxie Power Generation Ltd. According to The Economic Times, the contract is awarded by a domestic entity and neither the promoter, promoter group nor group companies have any interest in Moxie Power Generation. The ₹279.20 crore Telangana contract covers comprehensive operation and maintenance of mechanical, electrical and control and instrumentation systems, along with upkeep of ash handling plants and complete coal handling facilities. The scope includes operation and maintenance services for Stage-I (Unit No.1 & 2) and Stage-II (Unit No.3, 4 & 5) ash handling plants, along with the complete coal handling plant of YTPS (5X800 MW).
The company reported ₹3,113 crore in FY27 year-to-date inflows, including the ₹279 crore Telangana contract and ₹855 crore infrastructure construction order, as reported by The Economic Times. Power Mech Projects maintains a robust ₹17,317 crore order book (excluding MDO) covering 2.5+ years of revenue. The company has demonstrated strong growth with revenue growing nearly 3.2x over five years (17%+ CAGR) alongside a 67 basis points expansion in EBITDA margins over the last five years. The latest contracts add to the company's growing operations and maintenance portfolio following the ₹970 crore O&M contract secured earlier this month from Vedanta Power for its 2x600 MW Sakti Thermal Power Plant in Chhattisgarh.
Power Mech Projects reported exceptional financial performance in Q1 FY27, with consolidated net profit surging 51.9% year-on-year to ₹79.78 crore compared to ₹52.52 crore in the same period last year. According to The Economic Times, revenue from operations jumped 25.5% YoY to ₹1,623.68 crore during the quarter, up from ₹1,293.41 crore in Q1 FY26. The company maintains a strong market position with a total market capitalisation of ₹7,847.16 crore as of September 30, 2026, according to NSE data. The stock has gained more than 1% in the past week but lost 1% over the month, while showing a 9% advance on year-to-date basis. The stock hit a 52-week high of ₹3,007.50 on June 22, 2026, and touched a year's low of ₹1,717.70 on March 30, 2026.
