Power Mech Projects Q1 FY27 Revenue Up 26% to ₹1,632 Crore; PAT Rises 11%
Power Mech Projects reported Q1 FY27 revenue of ₹1,632 crore, up 26% YoY. EBITDA was ₹176 crore, with margins impacted by costs. PAT increased 11% to ₹89 crore, and EPS grew to ₹25.23. The company secured ₹1,864 crore in new orders, taking the backlog to ₹55,398 crore. Management is confident in full-year targets.
The announcement details strong revenue growth, improved PAT and EPS, and a substantial order backlog, which are key financial indicators that significantly impact investor sentiment and the company's valuation.
The company reported a significant 26% year-on-year growth in revenue and an 11% increase in profit after tax, indicating positive financial performance. Despite some margin pressures, the overall outlook and order book remain strong, leading to a positive sentiment.
Power Mech Projects Limited announced its financial results for the first quarter of FY27, reporting a total revenue of ₹1,632 crore, marking a significant 26% growth compared to the same quarter last year. This growth was primarily driven by sustained execution across core business verticals, including civil infrastructure, industrial EPC, O&M, and international projects.
The company's EBITDA for the quarter stood at ₹176 crore, with a margin of 10.8%. This represents a 3% year-on-year decline in margin, attributed to higher material and execution costs due to the Middle East conflict, increased royalty costs in the KRBM project, and higher overburden removal costs in the KBP mining business. However, the standalone business reported an improved EBITDA margin of 11.3% compared to 10.2% in Q1 FY26.
Profit after tax (PAT) saw an increase of 11% to ₹89 crore, and PAT after minority interest rose by 53% to ₹80 crore. Earnings per share (EPS) consequently increased to ₹25.23 from ₹16.61 in the corresponding quarter of the previous fiscal year. The management expressed confidence in meeting full-year targets for execution, order book, and margin profile.
In terms of revenue mix, the O&M business contributed ₹431 crore (8% YoY growth), and the civil segment (roads, railways, water distribution) reported ₹796 crore (28% YoY growth). The mining business showed substantial growth with ₹84 crore in revenue (223% YoY growth). Geographically, domestic revenues accounted for 96% of the total.
During Q1 FY27, the company secured new orders worth approximately ₹1,864 crore, against an annual target of ₹12,000 crore. The total order backlog, including MDO projects, stands at approximately ₹55,398 crore, with the executable order book at around ₹16,229 crore. Key priorities for the company include improving execution, sustaining and improving margins through higher contribution from O&M and mining, and enhancing cash conversion and working capital efficiency.
The company also discussed its outlook, with opportunities in the power sector estimated at ₹20,500 crore and in infrastructure at ₹8,500 crore. Significant investments are expected from private players like Adani and JSW. The O&M segment is projected to see growth driven by new capacities and renewals, with an opportunity of ₹800 crore to ₹1,000 crore annually. Opportunities are also being tracked in the non-power sector, including mining and steel, with significant investments planned by companies like NMDC, JSW, and ArcelorMittal. The company is targeting an order booking of ₹10,000 crore to ₹12,000 crore for the current year.
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Power Mech Projects Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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