Shares of Power Mech Projects Ltd were trading in the green and 2% higher on 19 September after the company announced securing an order worth Rs 865 crore. 

In its regulatory filing, the company said that it received an order from Talwandi Sabo Power Ltd, a subsidiary of Vedanta. The scope of the order entails the operation and maintenance of a 3×660 megawatt (MW) supercritical thermal power plant at Banawala village in Mansa district, Punjab. 

The contract is for a period of 5 years and with effect from 1 November 2024.

Recently, the company issued one bonus share for everyone held by the shareholders. This was the company’s first-ever bonus issue to its shareholders. 

In its quarterly earnings for April-June, the company reported a 21% year-on-year increase in consolidated net profit to Rs 61.72 crore for the quarter from Rs 50.96 crore reported in the same quarter last year. 

The revenue from operations during the quarter surged to Rs 1,007.39 crore during the quarter under review from Rs 865.13 crore reported in the same quarter last year. 

However, at 2:35 pm, the shares of Power Mech Projects were trading 2.62% lower at Rs 6,302.90 on NSE.

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