Power Mech Projects Receives Order for Revival of Meenakshi Energy Phase II

Power Mech Projects Limited is one of the leading infrastructure construction companies based in Hyderabad, India, with a global presence and a strong reputation for providing a wide range of services in the power and infrastructure sectors. In 1999, S. Kishore Babu, an enthusiastic entrepreneur in the engineering field, founded the company with the core values of providing services that are of the highest quality, safe, and timely, all of which have contributed to the company’s well-deserved reputation. In the past two decades of its existence, the company has undertaken projects of all types and sizes in extreme environments in India and abroad. These projects include ultra-mega power projects, super-critical thermal power projects, sub-critical power projects, heat recovery steam generators, waste heat recovery steam generators, circulating fluidized bed combustion steam generators, gas turbine generators, hydroelectric projects, operation & maintenance of running plants, and entire civil works for power plants. Power Mech has established subsidiary companies to focus on different types of operations: Power Mech Industri Private Limited, with a workshop in Noida, for the fabrication, manufacturing, and repair of BTG parts; Power Mech Projects Ltd., LLC, in Oman; MAS Powermech Arabia, in Saudi Arabia, to extend the company’s services in that part of the world; and the joint venture GTA Powermech Nigeria Limited, for undertaking project work in the African region.

Order book of Rs. 57,053 crore:

Currently, the Rs 57,053 crore order book for Power Mech Projects is in their hands, including the recent deal with Meenakshi Energy. Power Mech Projects Limited has announced the receipt of a Rs. 142.50 crore order from Meenakshi Energy Limited for the revival of Phase II (2 x 350 MW) of its power plant in Nellore district, Andhra Pradesh. The order was issued by a domestic body and covers the power plant’s installation, testing, and commissioning.

Power Mech stock price:

Intraday Power Mech stock is declining by almost 3% and is currently trading at Rs. 5,889.00 per share. The lowest traded price is Rs. 5,829.80 per share.

Conclusion: Power Mech Company has completed 25 years and is growing rapidly, having been awarded multiple projects recently. This is beneficial for investors and the company’s prospects.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.