Power Mech Q4 Revenue Rises 14% to INR 2,111 Cr
Power Mech Projects Limited announced its Q4 FY26 results, reporting a 14% YoY increase in revenue to INR 2,111 crore. EBITDA for the quarter grew 2% to INR 237 crore, while PAT stood at INR 153 crore. For the full fiscal year, revenue reached INR 6,062 crore, a 16% increase, with an EBITDA of INR 750 crore. The company secured order inflows of INR 7,210 crore during FY26, maintaining a total order backlog of INR 55,151 crore. Key milestones included the award of a Balance of Plant EPC package for the Singareni thermal power project.
*this image is generated using AI for illustrative purposes only.
Power Mech Projects Limited has announced its financial results for the fourth quarter of the fiscal year 2026. The company reported a strong performance with revenue from operations reaching INR 2,111 crore, registering a 14% year-over-year increase. This growth was supported by sustained execution in core segments and the ramp-up of operations on newly secured orders, although administrative delays in the water division impacted the overall momentum.
For the quarter ended March 31, 2026, EBITDA stood at INR 237 crore, reflecting a YoY growth of 2% with margins at 11.17%. Profit After Tax (PAT) for the quarter was INR 153 crore. On an annual basis, Revenue from Operations for FY26 reached INR 6,062 crore, marking a 16% YoY increase, while EBITDA grew 16% YoY to INR 750 crore with a margin of 12.3%.
The company secured total order inflows of INR 7,210 crore during FY26. While this was lower than expectations due to the cancellation of a BESS order by WBSEDCL, the total order backlog (including MDO) as of March 31, 2026, stood at INR 55,151 crore. This provides strong execution visibility over the medium term. A major milestone during the year was the award of the Balance of Plant EPC package for the 1 × 800 MW Singareni thermal power project from BHEL.
Financial Performance Summary
| Metric | Q4 FY26 (INR Cr) | YoY Growth |
|---|---|---|
| Revenue from Operations | 2,111 | 14% |
| EBITDA | 237 | 2% |
| EBITDA Margin | 11.17% | -126 bps |
| PAT | 153 | -23% |
| Total Order Inflow (FY26) | 7,210 | - |
| Total Order Backlog | 55,151 | ~2% |
Segment-wise, revenue from Erection works was INR 305 crore, O&M was INR 557 crore, Civil works was INR 945 crore, EPC was INR 78 crore, and MDO contributed INR 226 crore in Q4 FY26. The management expressed optimism for FY27, focusing on disciplined execution, improving profitability, and targeting order inflows through increased participation in BOP EPC packages, O&M contracts, and energy infrastructure projects.
Conference Call Update
Power Mech Projects Limited has submitted the recordings of the conference call held on May 22, 2026, to discuss the financial performance for the quarter and year ending March 31, 2026. The recording has been uploaded to the designated link for shareholder access.
Historical Stock Returns for Power Mech Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.09% | +4.35% | +2.24% | +7.08% | -13.60% | +746.83% |
How quickly can Power Mech Projects resolve the administrative delays in its water division, and what is the potential revenue at risk if these delays persist into FY27?
With an order backlog of INR 55,151 crore, what execution timeline and revenue recognition pace should investors expect, and are there risks of further order cancellations similar to the WBSEDCL BESS order?
Given the 23% YoY decline in PAT despite 14% revenue growth, what specific cost pressures or one-time items are driving margin compression, and what levers does management plan to pull to restore profitability in FY27?
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