Power Mech Projects Ltd

Corporate guarantee details

• Corporate Guarantee issued by Power Mech for KTMPL up to Rs 469 crore.
• Guarantee secures KTMPL loans from RBL Bank (Rs 175 crore) and IDFC First Bank (Rs 294 crore).
• Security Trustee for the guarantee is CTL Trusteeship Limited.
• Guarantee release target date is 1 September 2035.
• Promoter group has no interest; transaction is arm's-length; constitutes a contingent liability with no immediate impact.

Order details

• Awarding entity: MOXIE POWER GENERATION LIMITED (Adani Group).
• Scope: Complete Operation and Maintenance services at 2x600 MW Tuticorin TPP.
• Nature: Operations and Maintenance.
• Contract value: ₹549.37 Crores including all taxes and duties except GST.
• Contract period: 60 months from 01.10.2026 to 30.09.2031.
• Domestic awarding entity.
• Promoter/group interest: No; related party transactions: No.

Power Mech Projects Ltd trading window closed from October 1, 2026 until expiry of 48 hours after the declaration of un-audited financial results for the second quarter and half-year ended September 30, 2026

Business overview

• PMPL is a multi-segment industrial and infra services provider across EPC, O&M, and mining.
• Strategic shift to digitally-enabled technical services platform to improve uptime and scale globally.
• Pursues horizontal integration and high-value EPC delivery, with a focus on MDO and long-duration contracts.

Operational highlights

• FY27 YTD order inflows ₹3,113 Cr, with five-year O&M and civil/metro wins.
• Vande Bharat sleeper depot, Thanisandra, ₹228 Cr, 30 months.
• Salboni BTG area civil works, ₹855 Cr, 36 months.
• Mumbai Monorail O&M, ₹296 Cr, 60 months.
• Butibori O&M, ₹266 Cr, 60 months.
• Athena O&M, ₹970 Cr, 60 months.
• Yadadri AHP/CHP O&M, ₹279 Cr, 36 months.
• Mining order book ₹39,253 Cr; peak mining capacity 9 MTPA.
• FY27 pipeline exceeds ₹4,000 Cr.

Financial performance

• Q1 FY27 revenue from operations ₹1,623.68 Cr; total revenue ₹1,632.36 Cr.
• Q1 FY27 EBITDA ₹176.00 Cr; margin 10.78%.
• Q1 FY27 EBIT ₹152.99 Cr; margin 9.42%.
• Q1 FY27 PBT ₹126.38 Cr; margin 7.78%.
• Q1 FY27 PAT ₹89.32 Cr; margin 5.50%.
• FY26 revenue ₹6,061.57 Cr; PAT ₹411.68 Cr; PAT margin 6.00%.

Capital structure & liquidity

• Total assets ₹5,589.36 Cr; total equity ₹2,589.05 Cr as at Mar-26.
• Borrowings: current ₹543.05 Cr; non-current ₹108.25 Cr.
• Cash and cash equivalents ₹106.71 Cr; net cash from operations ₹387.45 Cr.

Strategic priorities & outlook

• Digitally enabled services platform to lift uptime and global execution.
• Five-year capacity targets: Industrial Construction 15 GW, O&M 35 GW, Infrastructure 25 GW.
• FY27 target: order inflows to reach ₹12,000 Cr.

Risks & governance

• Materials costs and royalty sharing pressures margins; margins expected to improve with MDO scale.
• Higher OB removal costs in mining impacting KBP margins; mitigation via scale and diversified revenue.
• Board includes founder CMD and independent directors; governance structure maintained.

Order details

• Awarding entity: Telangana Power Generation Corporation Limited.
• Scope: Comprehensive O&M for ash handling and coal handling at YTPS.
• Value: ₹279.20 Crores, including provisions; excluding GST; PVC applies in years 2–3.
• Execution period: 3 years from LOI/Order Confirmation.
• Contract type: Operations and Maintenance.
• Domestic entity.
• Related party: No promoter interest.
• Related party transactions: No.

Meeting Details

• Date: September 29, 2026; Physical roadshow in Mumbai.
• Event: Non-Deal Roadshow for Investors/Analysts.
• Host: Churchgate Partners.
• Interaction Type: One-to-one.

Participants

• Company officials will participate; roles not disclosed.

Purpose

• Non-Deal Roadshow to meet Investors/Analysts.

AGM Details

• AGM held on 17 September 2026 at 09:30 AM via VC/OAVM.
• Record date for voting: 10 September 2026.

Resolutions and outcomes

• Adoption of financial statements (Ordinary) – passed.
• Declaration of dividend on equity shares (Ordinary) – passed.
• Re-appointment of a director (Ordinary) – passed.
• Appointment of Vasundhara Sinha as independent director (Special) – passed.
• Approval of PMPL ESOP-2026 for employees (Special) – passed.
• Approval of PMPL ESOP-2026 for subsidiaries' employees (Special) – passed.
• Ratification of remuneration to Cost Auditors for 2026-27 (Ordinary) – passed.
• Remuneration to Mr. M. Rajiv Kumar for consultancy (Ordinary) – approved.
• Commission payable to Independent Directors (Ordinary) – approved.

Directors

• Independent director Vasundhara Sinha appointed.

Auditors & Remuneration

• Cost Auditor remuneration ratified for 2026-27.

ESOP approvals

• PMPL ESOP-2026 for employees approved.
• PMPL ESOP-2026 for subsidiary employees approved.

AGM Details

• AGM held on 17 September 2026 at 9:30 IST via VC/OAVM.

Key Resolutions

• Adoption of audited financial statements for year ended Mar 31, 2026 (Ordinary).
• Dividend on equity shares declared; amount per share not disclosed.
• Re-appointment of M. Rajiv Kumar by rotation (Ordinary).
• Appointment of Vasundhara Sinha as Independent Director (Special).
• ESOP Plan 2026 for company employees approved (Special).
• ESOP Plan 2026 for subsidiary employees approved (Special).
• Remuneration to Cost Auditors for 2026-27 ratified (Ordinary).
• Payment of consultancy remuneration to M. Rajiv Kumar (Ordinary).
• Commission payable to Independent Directors approved (Ordinary).

Voting & Results

• Voting results to be declared; consolidated results to NSE/BSE and website within two working days.

Directors & KMP Changes

• Board acknowledged retirement of Independent Directors and stepping down of a Non-exec Director.

Audit & Statutory Appointments

• Secretarial Auditor D.S. Rao appointed as Scrutinizer for voting.
• Cost Auditors' remuneration for 2026-27 ratified.

Financial performance

• Revenue ₹6,061.57 Cr (FY2025-26, consolidated)
• PAT ₹411.68 Cr (FY2025-26, consolidated)
• EPS ₹115.12
• EBITDA ₹750.29 Cr
• EBITDA margin 12.29%

Backlog and orders

• Total order inflow ₹7,210 Cr
• Closing backlog ₹55,151 Cr

Capital structure and liquidity

• Net debt ₹55.94 Cr
• Gearing 2.16%

Dividends and capital allocation

• Dividend ₹1.50 per share

Vedanta Power Limited order

• Awarding entity: Vedanta Power Limited (Sakti Thermal Plant).
• Scope: End-to-End O&M for 2x600 MW Sakti Thermal Plant, Chhattisgarh.
• Value: ₹970 crore (₹890 crore basic, ₹80 crore for additional services); GST excluded.
• Entity type: Domestic.
• Contract type: Operations and Maintenance.
• Execution period: within 60 months from LOI/order confirmation.
• Related-party: No promoter/group interest; not a related-party transaction.
• Impact: Large order size; potential material impact on order book.