Power Mech secures projects worth Rs. 202 crore
Power Mech Projects has bagged orders worth Rs. 202 crore for various projects including rail works in Kanpur, UP; LPG pipeline work in Mundra-Mithirohar, Gujarat; power cycle piping work at Thiruvallur, TN and O&M works of power unit at Khandwa, Madhya Pradesh.
The company has received the first order from Railway Vikas Nigam for construction of PEB sheds, structural buildings, road works, track works, general electrical works, OHE works, signalling and telecommunication works, installing and commissioning of machinery and plants etc at Kanpur, Uttar Pradesh for a total contract price of Rs. 74 crore to be completed in 21 months.
The second order is for supply, pipeline laying and construction along with laying of OFC cable along the entire route of the pipeline, installation, testing, pre-commissioning and commissioning, performance testing and assistance in commissioning and start up, up to handing over for Mundra-Mithirohar Cross Country LPG Pipeline in Gujarat for a total contract price of Rs 86 crore to be completed within 10 months.
The third order is for erection, testing and commissioning of power cycle piping, LP piping and all associated piping and application of refractory & insulation works for TG, power cycle piping, LP piping for 1 x 800 MW set at North Chennai Stage III Ponneri Taluk, Thiruvallur District in Tamil Nadu for a total contract price of 17 crore to be completed in 15 months.
And the fourth order is for Operation and Maintenance of for 2X660 MW Super Critical Units at SSTPP, Phase II, MPPGCL, Dongalia District Khandwa in Madhya Pradesh for a total contract price of Rs 25 crore for a period 24 months.
The company’s order book as on Q3FY19 was at Rs. 6,330 crore which translate book-to-bill of 4x on FY18 revenue. This gives strong revenue visibility for the next 3-4 years.
The stock of Power Mech experienced huge volatility in the first half of trade on Tuesday. The stock opened at Rs. 878 apiece, tanking nearly 4 per cent to touch intra-day low of Rs. 841.85. At 12:56hours, the stock was trading at Rs. 846.3 apiece, down 3.6 per cent.
Power Mech Projects is an integrated power infrastructure services company. The company's operations include three business lines: Erection Works, Operation & Maintenance (O&M) Services and Civil Works.