Power Mech Projects Ltd. announced on Wednesday, June 3, that it has secured a significant contract worth ₹266.26 crore from Adani Infrastructure Management Services Ltd for a thermal power plant project in Maharashtra. According to the company's exchange filing, the work involves providing KPI based contract for operations and maintenance services at a 2x300 MW thermal power plant located at Butibori in Maharashtra. The contract represents a domestic order covering O&M services and has been awarded by a domestic entity, with the promoter/promoter group companies having no interest in the awarding entity.
The thermal power plant contract is scheduled for completion within 60 months from the commencement date, which is set for July 1, 2026. The contract will be executed over a period of 60 months, from July 1, 2026 to June 30, 2031. As reported by Business Standard, this represents a substantial infrastructure project requiring comprehensive maintenance services for the thermal power generation facility in Maharashtra, with the work being executed at arms length without related party transactions.
This latest award adds to Power Mech's growing order book, following the ₹296 crore contract secured in April from Maha Mumbai Metro Operation Corporation Ltd for the Mumbai Monorail project. According to CNBC TV18, the Mumbai contract included operations and maintenance of a 19.54 km corridor with 17 stations for five years, with comprehensive O&M services covering rolling stock operations and upgraded communication-based train control (CBTC) signaling systems.
Power Mech Projects reported robust financial results for Q4 FY26, with consolidated net profit increasing 21.6% to ₹142.55 crore compared to ₹117.24 crore in Q4 FY25. Revenue from operations jumped 13.89% year-on-year to ₹2,110.73 crore for the quarter ended March 31, 2026. As per Business Standard, the company is an engineering and construction company providing integrated services in erection, testing and commissioning (ETC) of boilers, turbines and generators; balance of plant (BOP); civil works; and operation and maintenance (O&M) services across power, infrastructure, and industrial sectors.
Power Mech shares rose 0.55% to ₹2,5013.10 on the BSE following the contract announcement, as reported by Business Standard. The stock has demonstrated strong performance with a 10.6% gain this year so far, reflecting positive investor sentiment following the company's successful contract wins and expanding order book.
