POWERMECH
Power Mech Projects share price & financials
- Price
- ₹2,839.9
- Market cap
- ₹7.5k Cr
- Sector
- Construction
- Calls analysed
- 6
Power Mech Projects Limited Q1 FY27
What went well
- Strong revenue growth of 26% YoY to INR 1,632 crores, driven by sustained execution across core verticals.
- Profit after tax (after minority interest) increased by 53% YoY to INR 80 crores.
- Executable order book stands at INR 16,229 crores, providing multi-year revenue visibility.
What to watch
- EBITDA margin declined by 3 percentage points YoY to 10.8% due to higher material and execution costs from the Middle East conflict, increased royalty costs in KRBM, and higher overburden removal in KBP mining.
- Industrial construction revenue decreased by 13% YoY.
What Power Mech Projects Limited does
Power Mech Projects is an integrated engineering and infrastructure services provider to the power, industrial, mining and civil infrastructure sectors. It earns fee/contract income by executing Erection, Testing & Commissioning (ETC) of boiler-turbine-generator and Balance of Plant systems for thermal, nuclear and industrial plants; by running long-term Operations & Maintenance (O&M) and annual maintenance contracts for utilities and captive power plants; through civil/structural construction for power, industrial and urban infrastructure (metro, water, roads); and through Mining Development & Operations (MDO) contracts where it develops mine infrastructure and undertakes contract coal mining. It operates domestically across India and internationally in the Middle East, Africa and parts of Asia, serving both public-sector utilities (e.g., NTPC, BHEL) and private industrial clients.
Segments
- Erection, Testing & Commissioning (ETC)
- Operations & Maintenance (O&M)
- Civil Construction / EPC
- Mining Development & Operations (MDO)
- Market position
- India's largest O&M services provider for power plants, ~20% market share
- Unit capacity under O&M / AMC management
- 36.25 GW
- Cumulative erection, testing & commissioning works completed
- >31.22 Lakh MT
- Peak rated mining capacity (MDO)
- 9 MTPA
- International footprint
- Operations across ~20 countries (existing + newly entered), incl. Middle East, Africa and Asia, alongside its India business
- Total ongoing projects
- 165 (incl. 15 overseas)
Guidance record · Q1 FY27
what the last two calls moved 16 tracked 2 delivered 2 missed 12 open- Recovery of UP Jal Jeevan Mission Receivables went quiet said Q4 FY25 Promised: Recovery expected in Q1 FY26 Q1 FY27: No specific update provided on the recovery of the outstanding INR 90 cr receivable or INR 128 cr pending certification from the UP JJM projects.
- Tasra Washery Completion Timeline delayed said Q4 FY25 Promised: September 2026 Q1 FY27: Hot commissioning expected by November-December, consistent with the previously delayed timeline of Dec 2026 completion.
- FY26 Total Revenue delivered, diluted said Q4 FY25 Promised: INR 6,500 crores (revised down from INR 7,000 crores) Q4 FY26: Achieved INR 6,107 cr for FY26, slightly exceeding the latest revised guidance of INR 6,000 cr. The original target was INR 7,000 cr, then revised to INR 6,500 cr.
All 16 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 25.6%, net profit up 9.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,035 | 1,338 | 1,853 | 1,293 | 1,238 +20% | 1,420 +6% | 2,111 +14% | 1,624 +26% |
| EBITDA | 123 | 151 | 214 | 170 | 146 +19% | 160 +6% | 226 +6% | 167 −2% |
| Net profit | 70 | 87 | 130 | 81 | 78 +11% | 100 +15% | 153 +18% | 89 +10% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −21.4% 1Y
1Y: ₹3,081.8 on 10 Sept 2025 → ₹2,421.3. High ₹3,081.8 (10 Sept 2025), low ₹1,732.8 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −3.3%
- 10 Aug
- Q4 FY26
- +0.7%
- 29 May
- Q3 FY26
- −1.6%
- 12 Feb
- Q2 FY26
- −0.6%
- 13 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 19.0% a year over 3 years, FY23 to FY26. Operating margin widened to 11.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹3.6k Cr | ₹4.2k Cr | ₹5.2k Cr | ₹6.1k Cr |
| Operating profit | ₹395 Cr | ₹493 Cr | ₹601 Cr | ₹702 Cr |
| Operating margin | 11.0% | 11.7% | 11.5% | 11.6% |
| Interest | ₹89 Cr | ₹94 Cr | ₹100 Cr | ₹115 Cr |
| Depreciation | ₹43 Cr | ₹44 Cr | ₹55 Cr | ₹73 Cr |
| Net profit | ₹208 Cr | ₹248 Cr | ₹349 Cr | ₹412 Cr |
| Net margin | 5.8% | 5.9% | 6.7% | 6.8% |
| Cash from operations | ₹182 Cr | ₹205 Cr | ₹1 Cr | ₹387 Cr |
| Free cash flow | ₹133 Cr | ₹115 Cr | ₹-159 Cr | ₹60 Cr |
| ROCE | 22.0% | 24.0% | 23.0% | 22.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹15 Cr | ₹15 Cr | ₹15 Cr | ₹16 Cr | ₹32 Cr | ₹32 Cr |
| Reserves | ₹890 Cr | ₹1.0k Cr | ₹1.3k Cr | ₹1.8k Cr | ₹2.3k Cr | ₹2.5k Cr |
| Borrowings | ₹515 Cr | ₹531 Cr | ₹477 Cr | ₹396 Cr | ₹960 Cr | ₹664 Cr |
| Other liabilities | ₹850 Cr | ₹1.0k Cr | ₹1.3k Cr | ₹1.3k Cr | ₹1.7k Cr | ₹2.4k Cr |
| Total liabilities | ₹2.3k Cr | ₹2.6k Cr | ₹3.1k Cr | ₹3.6k Cr | ₹5.0k Cr | ₹5.6k Cr |
| Fixed assets | ₹175 Cr | ₹180 Cr | ₹189 Cr | ₹231 Cr | ₹342 Cr | ₹429 Cr |
| Capital work in progress | ₹5 Cr | ₹2 Cr | ₹3 Cr | ₹11 Cr | ₹72 Cr | ₹182 Cr |
| Investments | ₹41 Cr | ₹39 Cr | ₹36 Cr | ₹37 Cr | ₹35 Cr | ₹34 Cr |
| Other assets | ₹2.0k Cr | ₹2.4k Cr | ₹2.8k Cr | ₹3.3k Cr | ₹4.5k Cr | ₹4.9k Cr |
| Total assets | ₹2.3k Cr | ₹2.6k Cr | ₹3.1k Cr | ₹3.6k Cr | ₹5.0k Cr | ₹5.6k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs trimmed −2.71 pp while FIIs added +1.47 pp. The shareholder count grew 8% to 79,426.
- Promoters
- 58.4%
- FIIs
- 6.5%
- DIIs
- 20.6%
- Public
- 14.4%
Since Jun 2025
- DIIs −2.71 pp
- FIIs +1.47 pp
- Public +1.12 pp
How it drifted, 12 quarters
Over this window DIIs went from 14.5% to 20.6% — +6.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 64.0%, FIIs 4.2%, DIIs 14.5%, Public 17.3%.Dec '23: Promoters 60.4%, FIIs 4.2%, DIIs 18.6%, Public 16.8%.Mar '24: Promoters 60.4%, FIIs 5.0%, DIIs 19.4%, Public 15.2%.Jun '24: Promoters 58.3%, FIIs 5.2%, DIIs 21.6%, Public 14.8%.Sep '24: Promoters 58.3%, FIIs 5.0%, DIIs 23.2%, Public 13.5%.Dec '24: Promoters 58.3%, FIIs 5.0%, DIIs 23.4%, Public 13.4%.Mar '25: Promoters 58.3%, FIIs 4.7%, DIIs 23.4%, Public 13.6%.Jun '25: Promoters 58.3%, FIIs 5.1%, DIIs 23.3%, Public 13.3%.Sep '25: Promoters 58.3%, FIIs 7.0%, DIIs 21.0%, Public 13.7%.Dec '25: Promoters 58.3%, FIIs 6.5%, DIIs 20.5%, Public 14.6%.Mar '26: Promoters 58.4%, FIIs 6.5%, DIIs 20.2%, Public 14.9%.Jun '26: Promoters 58.4%, FIIs 6.5%, DIIs 20.6%, Public 14.4%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- HDFC Trustee Company Limited - HDFC Infrastructure Fund Mutual fund newly disclosed 8.19% held
- SBI Flexicap Fund Mutual fund +0.41 pp 2.24% held
- HSBC mutual fund- HSBC value fund Mutual fund +0.36 pp 3.05% held
- Edelweiss Trusteeship Co Ltd Ac- Edelweiss Mf Ac- Edelweiss Large & Mid Cap Fund Mutual fund +0.05 pp 1.26% held
The same filing shows 3 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Power Mech Projects Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sajja Kishore Babu | 24.01% | unchanged |
| Aishwarya Kurra | 11.12% | unchanged |
| HDFC Trustee Company Limited - HDFC Infrastructure Fund Mutual fund | 8.19% | newly disclosed |
| Vignatha Sajja | 6.63% | unchanged |
| Sajja Rohit | 5.03% | unchanged |
| Lakshmi Sajja | 4.79% | unchanged |
| HSBC mutual fund- HSBC value fund Mutual fund | 3.05% | +0.36 pp |
| SBI Flexicap Fund Mutual fund | 2.24% | +0.41 pp |
| The Master Trust Bank Of Japan, Ltd. As Trustee Of HSBC India Infrastructure Equity Mother Fund Sovereign | 2.05% | −0.16 pp |
| ICICI Prudential Energy Opportunities Fund Mutual fund | 1.84% | −0.43 pp |
| Amaira Sajja | 1.50% | unchanged |
| Kiara Sajja | 1.50% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in POWERMECH
Filings to Aug 2026
0 new, 1 added, 1 trimmed, 0 sold out — net +0.17 L shares (+0.5%).
- Held by funds
- ₹860 Cr
- 6 schemes
- Biggest holder
- HDFC Small Cap Fund
- ₹565 Cr · 1.4% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Small Cap Fund HDFC Mutual Fund | ₹565 Cr | held | Dec '22 |
| SBI Flexicap Fund SBI Mutual Fund | ₹179 Cr | +0.21 L | Jan '26 |
| HDFC Defence Fund HDFC Mutual Fund | ₹77 Cr | −0.04 L | Nov '23 |
| HDFC Infrastructure Fund HDFC Mutual Fund | ₹22 Cr | held | Apr '26 |
| SBI Long Term Advantage Fund - Series V SBI Mutual Fund | ₹10 Cr | held | Nov '25 |
| SBI Long Term Advantage Fund - Series VI SBI Mutual Fund | ₹8 Cr | held | Nov '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
1 added, 1 trimmed — net +16,975 shares (+0.5%)
- Funds are sitting on
- +93%
- vs est. average cost
- Held by funds
- ₹860 Cr
- 6 schemes · ≈ 13% of the company
- Biggest holder
- HDFC Small Cap Fund
- ₹565 Cr · 1.4% of that fund
Shares held by these funds +37%
Aug '23 33.45 L shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Power Mech Projects Limited
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