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Swing Capital

Power Mech Projects Ltd

NSE: POWERMECH BSE: 539302Energy

Power Mech Projects Limited, incorporated in 1999, is an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M). The company undertakes ultra mega power projects, super critical thermal power projects and sub critical power projects.[1][2]

₹2,387
52W: ₹1718 — ₹3415
PE 24.5 · Book ₹701 · +241% vs book
Market Cap₹7,546 Cr
Stock P/E24.5Price to Earnings
ROCE20.6%Return on Capital
ROE15.4%Return on Equity
Div. Yield0.05%Face Value ₹10

Strengths

  • +Company has delivered good profit growth of 22.2% CAGR over last 5 years

Weaknesses

  • −Promoter holding has decreased over last 3 years: -5.75%

Shareholding Pattern

Promoters58.41%
FIIs6.48%
DIIs20.18%
Public14.92%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters58.29%58.29%58.29%58.29%58.29%58.33%▲0.058.33%58.41%▲0.1
FIIs5.24%4.98%▼0.34.97%▼0.04.74%▼0.25.07%▲0.37.01%▲1.96.55%▼0.56.48%▼0.1
DIIs21.65%23.24%▲1.623.38%▲0.123.39%▲0.023.31%▼0.121.01%▼2.320.54%▼0.520.18%▼0.4
Public14.82%13.5%▼1.313.36%▼0.113.57%▲0.213.33%▼0.213.65%▲0.314.58%▲0.914.92%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales9151,0711,2288579551,1001,5239051,1051,130
Expenses8049421,0927608509751,3628139891,004
Operating Profit1111301369710512416192117126
OPM %12%12%11%11%11%11%11%10%11%11%
Net Profit516081586471107506487
EPS ₹17.2319.1125.6518.2220.3522.513415.7520.3627.4

AI Insights

Revenue Trend

TTM revenue at ₹4,664Cr, up 5.2% YoY. OPM at 11%.

Debt Position

Borrowings at ₹858Cr. Debt-to-equity ratio: 0.39x. Healthy balance sheet.

Capex Cycle

CWIP at ₹21Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 20.18% (+6.71pp change). FIIs: 6.48% (+2.91pp change). Promoters hold 58.41%.

Margin & Efficiency

ROCE declining from 31% (Mar 2014) to 21% (Mar 2025). Working capital days: 103.

Valuation

PE 24.5x with 20.6% ROCE. Price is 241% above book value of ₹701. Dividend yield: 0.05%.

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