Power Mech Projects Ltd. has secured a significant contract worth ₹109.22 crore from Hindustan Zinc Ltd for operation and maintenance services. According to reports from CNBC TV18, the contract involves comprehensive operation and maintenance of a 91.5 MW captive power plant (CPP) along with the associated transmission line up to the main receiving substation (MRSS). The Hyderabad-based company will execute the project as an independent contractor, with the order scheduled to be completed within a 48-month period.
As reported by CNBC TV18, this contract strengthens Power Mech's operations and maintenance portfolio in the power sector. The company recently secured a ₹709.56 crore contract in March from Adani Infrastructure Management Services Ltd for a thermal power plant in Maharashtra. Additionally, Power Mech had secured two orders worth nearly ₹1,000 crore in February this year from Adani subsidiary Mirzapur Thermal Energy (UP) Private Limited and Mahan Energen Limited.
Following the announcement, shares of Power Mech Projects were trading 4.61% up at ₹1,812.70 as of 10.52 am, according to CNBC TV18. However, the stock has declined 33.62% over the last six months, indicating recent volatility despite the positive contract news. The company clarified that the contract is domestic in nature and does not fall under related-party transactions, with neither its promoter group nor associated entities having any interest in Hindustan Zinc.
