Shares of Power Mech Projects Ltd were trading 7% higher on 16 August after the company announced securing an order worth Rs 114 crore from Coastal Energen Private Limited.

In an exchange filing, Power Mech said, “Extension of time for Operation and Maintenance of 1200 MW (2*600MW) coal based thermal power plant namely Mutiara Thermal Power Plant, owned by Coastal Energen Private Limited located at Melamaruthur Village, Ottapidaram Taluk, Tuticorin District, Tamilnadu for a period of one year with effect from 01.10.2024.”

The company will manage and operate the 1200 megawatt (MW) (2*600 MW) coal-based thermal power plant. It will require a whole year to complete the job.

One of the top engineering and construction companies, Power Mech Projects Limited was founded in 1999 and specialised in integrated services of erection, testing, and commissioning (ETC) for boilers, turbines, generators, and balance of plant (BOP).

The business also provides operation and maintenance (O&M) services in addition to civil works. Major power endeavours, such as subcritical power projects, ultra-mega power projects, and supercritical thermal power projects, are undertaken by Power Mech Projects.

The business is divided into five strategic divisions: mining, manufacturing & heavy fabrication, industrial services, infrastructure construction, and industrial construction.

With two contracts totalling around Rs 39,700 crore for Mine Developer and Operator (MDO) to be completed over the next 25 years, Power Mech Projects has a robust order book of over Rs 57,000 crore as of FY24.

The company had earlier this week announced that the Board would consider the request for bonus shares to be distributed to the company’s equity owners on Thursday, 22 August 2024.

At 1:12 pm, the shares of Power Mech were trading 4.22% higher at Rs 5,910 on NSE.

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