Power Mech Projects has won a significant order worth ₹549 crore from Moxie Power Generation to provide operation and maintenance services at its 2x600 MW thermal power plant in Tuticorin. This contract spans five years, starting from October 1, 2026, and ending on September 30, 2031. This development has positively impacted the company's shares, which rose by 6% following the announcement.
- The contract period is five years, from October 2026 to September 2031.
- The work involves complete operation and maintenance services at Moxie Power Generation's Tuticorin thermal power plant.
- Power Mech Projects also secured a ₹279.20 crore order from Telangana Power Generation Corporation Ltd. for operation and maintenance services.
- Earlier in September, the company won a ₹970 crore order from Vedanta Power Ltd. for a thermal power plant in Chhattisgarh.
- Power Mech Projects reported a 51.9% year-on-year increase in net profit for Q1 FY27.
What does the Moxie Power Generation order include?
The order requires Power Mech Projects to provide comprehensive operation and maintenance services at Moxie Power Generation's Tuticorin Thermal Power Plant, which has a capacity of 2x600 MW. These services ensure the plant operates efficiently and reliably over the five-year contract period.
What other recent contracts has Power Mech Projects secured?
In addition to the Moxie Power order, Power Mech Projects received a ₹279.20 crore contract from Telangana Power Generation Corporation Ltd. This contract covers operation and maintenance of mechanical, electrical, and control & instrumentation systems for the Ash Handling Plant and Coal Handling Plant at the YTPS facility. Furthermore, on September 9, the company won a ₹970 crore contract from Vedanta Power Ltd. for end-to-end operations and maintenance at a 2x600 MW coal-based thermal power plant in Chhattisgarh.
How has Power Mech Projects performed financially recently?
Power Mech Projects reported a consolidated net profit of ₹79.78 crore for the first quarter of the 2026-27 financial year (April-June 2026), marking a 51.9% increase compared to ₹52.52 crore in the same quarter last year. Revenue from operations also rose by 25.5% year-on-year to ₹1,623.68 crore during this period.
How has the stock market reacted to these developments?
Following the announcement of the Moxie Power order, Power Mech Projects' shares increased by 6%. As of September 30, 2026, the stock price stood at ₹2,486 per equity share, reflecting a 3.70% rise during the trading day. Over the past week, the shares gained more than 1%, though they experienced a 1% decline over the past month. Year-to-date, the stock has advanced by 9%, with a 52-week high of ₹3,007.50 reached in June 2026 and a low of ₹1,717.70 in March 2026.
What is the market capitalization of Power Mech Projects?
As of September 30, 2026, Power Mech Projects has a total market capitalization of ₹7,847.16 crore, according to data from the National Stock Exchange (NSE).
