Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 29 Sep - Power Mech secured ₹549.37 crore O&M contract for 2x600 MW Moxie Power Tuticorin TPP over 60 months.
Source: Bse
Power Mech Projects Limited (POWERMECH)
Micro CapInfra stocks · Micro cap · NSE
Power Mech Projects Limited (PMPL) is a leading industrial and infrastructure services provider with global execution capabilities. It specializes in EPC of BOP systems, O&M services for power plants, civil/structural construction across power, rail, roads, water, and mining, and contract mining (MDO).
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result16 Aug, 01:25 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Infra P/E 15.4 (n=87)
Technical timing lens
Trend score and candlestick chart
36BearishMACD − · sector -2.7pp vs Nifty 500 (3M)
Stock trend: 37
Sector RS: 35
Sector 3M: -8.3% vs Nifty 500 -5.6%
Infra FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
POWERMECHD candles · FIT view-2.1%Latest close ₹2357.50 on 2026-10-19
Bar
-0.7%
RSI
42
MACD hist
-3.23
52W pos
50%
2026-10-19O ₹2375.10H ₹2418.10L ₹2340.00C ₹2357.50Vol 59,037 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
POWERMECHNifty InfraNifty 500
- POWERMECH
- -8.2%
- Nifty 500
- -5.6%
- Nifty Infra
- -8.2%
- Vs Nifty 500
- -2.6 pp
Chart stats
19 Oct 2026- From 52W high
- -21.6%
- 52W range position
- 50%
- ATR (14)
- 3.2%
- Volume vs 20D
- 1.08x
- Avg traded value
- ₹13.6 Cr
- 20D price channel
- ₹2,332.8 - ₹2,535
₹3,007.5
₹1,717.7 - ₹3,007.5
₹76.1
Latest completed session
20-session average
25.9% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE55
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average32
Revenue +25.6% · PAT +9.9% YoY
Technical
Bearish36
Price trend and sector-relative-strength timing.
Valuation
Legacy model+17.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence85
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 32/100margin compression · Rev +26% YoY · PAT +10% YoY
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,624 Cr | +25.6% | -23.1% |
| EBITDA | ₹167 Cr | -1.8% | -26.1% |
| Operating margin | 10.0% | -300 bps | -100 bps |
| PAT | ₹89 Cr | +9.9% | -41.8% |
| PAT margin | 5.5% | -78 bps | -177 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 19.80
- P/B
- 3.09
- EV/EBITDA
- 10.81
- Market Cap
- 7765.00Cr
Profitability
- ROE
- 15.40%
- ROCE
- 21.70%
- ROA
- 7.51%
- Dividend Y
- 0.06%
Growth (CAGR)
- Revenue 5Y
- 26.00%
- EPS 5Y
- 58.00%
- Revenue 3Y
- 19.00%
- EPS 3Y
- 20.00%
Balance Sheet
- Debt/Equity
- 0.26
- Interest Coverage
- 6.19×
- Altman Z
- 3.86
- Book Value
- 797.00
Cash Flow
- FCF Yield
- 2.61%
- FCF Positive Y
- 5/5
- OCF
- 387.00 Cr
- EPS TTM
- 123.75
Shareholding
- Promoter Hold
- 58.41%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 57%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 1,624-23.1% vs prev
Net Profit
₹ CrLatest: 89.0-41.8% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 42.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 42 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 22% off 52W high · 37% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
52
RS percentile
Stage 1 Base / Transition
1M return
-0.6%
3M return
-8.2%
6M return
-5.4%
1Y return
-7.2%
RS 1D
+2
RS 20D
+3
Sector rank
#16
Industry rank
#70
Stage evidence
- Price is within 4.0% of the 30-week proxy.
- The 30-week proxy changed +2.2% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 90.51-0.21%
RS vs Nifty 50091
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation4/30
Growth21/25
Quality11/20
Balance Sheet8/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
55
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
55/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 17.5%.
- Growth contributes 21/25 to the score.
Main drags
- Valuation is weaker at 4/30; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
- Quality is weaker at 11/20; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
19.8
PB
3.1
EV/EBITDA
10.8
ROE
15.4%
ROCE
21.7%
FCF Yield
2.6%
Debt/Equity
0.3
MoS
+17.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
55
Previous: 55
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+17.5%
Previous: +22.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
55
55
55
55
55
55
55
55
55
55
55
55
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,489.68
-58.3% MoS
Growth-justified P/E
23.1
Growth-justified Value
₹2,858.63
+17.5% MoS
PEG
0.46
Comparable companies
Peers
Business-comparable peers in Infra — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
PNCINFRA
Micro
PNC Infratech Limited
Construction & Engineering
match 96
45
6.1
2.4%
-110%
WATCHLIST
RITES
Large
RITES Limited
Construction & Engineering
match 92
41
23.1
15.4%
-245%
WATCHLIST
AFCONS
Small
Afcons Infrastructure Limited
Construction & Engineering
match 91
18
44.0
5.6%
-117%
OVERVALUED
STARCEMENT
Micro
Star Cement Limited
Construction & Engineering
match 87
56
18.3
13.2%
+41%
FAIR VALUE
TARACHAND
Small
Tara Chand InfraLogistic Solutions Limited
Construction & Engineering
match 86
61
16.9
19.4%
+47%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-11T16:42:56.694Z
Management commentary snapshot
Q1 FY27 revenue grew 26% YoY to INR 1,624 Cr, driven by Civil Infra, Industrial EPC, JJM water, O&M, and International projects. However, EBITDA margin declined 320 bps YoY to 10.78% due to higher material costs and royalty sharing, impacting PAT margin.
Despite Q1 FY27 margin pressure from external factors, PMPL demonstrated robust revenue growth and secured significant new orders, bolstering its substantial order book. Management anticipates margin recovery as MDO operations scale up, supporting the long-term growth thesis.
Current business mix
Q1 FY27 Revenue by Segment
Latest issuer-disclosed distribution across 4 reported categories.
Industrial Construction19.3%
Industrial Services30.8%
Infrastructure Construction47.9%
MDO2.0%
Growth engines
Power Construction Leadership
Strategic pivot from construction services to high-value EPC delivery, increasing opportunity size and margins.
Power O&M Scaling
Scaling into higher-margin Field & Comprehensive O&M segments, targeting 75 GW capacity in 5 years.
MDO Contracts
High-margin, multi-decade MDO contracts (KBP, KTMPL) providing sustainable, recurring long-term revenue.
Strong Order Momentum
Record order inflows of INR 3,113 Cr in FY27 YTD, driven by major wins across O&M, civil, and metro/railway projects.
Capacity and execution
MDO Capacity Scaling
Scaling MDO capacity to ~15 MTPA over the next decade.
Coking Coal Washery Commissioning
Coking coal washery expected to be commissioned in Dec '26, leading to higher revenues in FY28.
Tailwinds
Coal Capacity Expansion
CEA's generation adequacy plan takes coal capacity from 231 GW to 291 GW by FY32 (~60 GW of new build).
O&M Outsourcing Trend
Utilities and IPPs are outsourcing plant operations, expanding addressable O&M fleet to ~231 GW (~INR 15,000 Cr p.a.).
Railway and Metro Capex
FY27 railway capex of INR 2.93 lakh Cr (+10.5%) and metro extending from 26 cities to ~20 more.
Coal and Steel Demand
Coal demand reaches ~1.5 bn tonnes by 2030; steel capacity goes from 220 to 300 MTPA by 2030.
Headwinds
Higher Material Costs
Increased material costs arising from the Middle East conflict impacted Q1 FY27 margins.
Increased Royalty Sharing
Significant increase in royalty sharing for river dredging in the KRBM project impacted Q1 FY27 margins.
MDO OB Removal Costs
KBP Mining margins were impacted by higher overburden removal costs to make new seams accessible.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Q1 FY27 revenue growth is explicitly stated YoY, while segment revenue and margins are presented with both YoY and QoQ comparisons, indicating the relevance of both sequential momentum and annual trends.
Sector KPIs management disclosed
Order Inflow
INR 3,113 Cr in FY27 YTD, driven by major wins across O&M, civil, and metro/railway projects.
Order Book
INR 56,647 Cr (Inc. MDO) as of Q1 FY27, covering 2.5+ years of revenue (excl. MDO).
Revenue Growth
Q1 FY27 revenue at INR 1,624 Cr, up 26% YoY. Revenue grew ~3.2x over five years (17%+ CAGR).
EBITDA Margin
Q1 FY27 EBITDA margin 10.78%, down 320 bps YoY. Expanded 67 bps over last 5 years (11.62% to 12.29%).
Management forward view
Expected Margin Improvement
EBITDA and PAT margins are expected to improve, supported by the scale-up of MDO operations and continued growth in the core business.
Digital Transformation
Power Mech is transitioning into a digitally enabled technical services platform to improve uptime of assets and scale execution globally.
FY27 Order Inflow Target
Driving towards INR 12,000 Cr order inflow milestone in FY27.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Order Inflow | INR 3,113 Cr (FY27 YTD) | Progress towards the targeted INR 12,000 Cr order inflow for FY27. |
| EBITDA Margin | 10.78% (Q1 FY27) | Expected improvement in coming quarters as MDO operations scale up and core business grows. |
| MDO Revenue Contribution | 2.01% (Q1 FY27) | Increasing share in total revenue as KBP mine ramps up production and the coking coal washery commissions. |
| Coking Coal Washery Commissioning | Expected Dec '26 | Timely commissioning and subsequent revenue contribution in FY28. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
85Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 98th percentile of the scored universe and 99th percentile within Infra. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
110 docs text-extracted · 35 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
98th percentile
overall median 67 · Infra: 99th pctile, median 64 · Micro: 96th pctile, median 73
Evidence depth
Financial-only
110 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
82
strong · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 58.4%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.8%.
- ▸5 years of positive FCF.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Power Mech Projects Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 28 Sep - Power Mech wins ₹279.20 crore 3-year O&M order from Telangana Power Generation Corporation for YTPS.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 9 Sep - Power Mech secured ₹970 crore O&M contract for Vedanta Power's 2x600 MW Sakti Thermal Plant over 60 months.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Aug - Request you to please check the attached
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Jun
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.