Power Mech Projects Limited has released its comprehensive investor presentation for February 2026, providing detailed insights into the company's strategic positioning, financial performance, and growth trajectory across multiple business segments.

Strong Market Position and Operational Scale

The company has established itself as a leading industrial and infrastructure services provider with significant operational scale. Power Mech manages over 40.12 GW of capacity under O&M care, positioning it as one of Asia's market leaders in Power O&M services. The company's execution expertise spans multiple sectors, with over 84.4 GW capacity added to the grid and more than 30.29 lakh MT of erection works completed.

Record Order Momentum and Strategic Wins

The presentation highlights exceptional order inflow performance, with record order inflows of ₹7,766 Cr in FY26 YTD. The company is targeting the ₹10,000 Cr milestone for FY26, supported by major contract wins across diverse sectors.

Notable recent order wins include a ₹2,550 Cr EPC package for balance of plants at Singareni Super Thermal Power Project from BHEL, and a ₹1,563 Cr BESS project from West Bengal State Electricity Distribution Company.

Financial Performance and Profitability

The company demonstrated strong financial performance in Q3 FY26, with revenue reaching ₹1,419.56 Cr, representing 6% YoY growth. EBITDA margins remained stable at 12.08%, while PAT margins improved to 7.02%.

Diversification into Renewable Energy

Power Mech is strategically expanding into renewable energy, currently executing a 13.66 MW Solar BOO project and a massive 250 MW/1000 MWh BESS project. These projects are expected to generate guaranteed annuity revenues of approximately ₹7 Cr per year for 25 years (Solar) and ₹104 Cr per year for 15 years (BESS).

Mining Development Operations Growth

The company's MDO segment is showing promising growth, with revenue share increasing to 5% in Q3 FY26 from 3% in Q3 FY25. The company operates two major mining contracts: Central Coalfields (KBP Mine) with a project value of ₹9,294 Cr and SAIL (KTMPL Mine) valued at ₹30,300 Cr.

Strategic Outlook and Growth Engines

The presentation outlines four key growth engines: leadership in Power O&M with scaling into higher-margin comprehensive O&M, strategic pivot from construction services to integrated EPC delivery, diversified business model with renewable energy entry, and sustainable recurring revenue through multi-decade MDO contracts.

The company's order backlog including MDO stands at ₹57,811 Cr as of FY26 YTD, providing strong revenue visibility for the coming years. With a diversified client base including marquee names like NTPC, BHEL, Adani Group, and international clients across MENA and West Africa, Power Mech is well-positioned to capitalize on India's infrastructure development and energy transition opportunities.

Power mech projects Limited has announced the receipt of large-scale orders worth over ₹1,000 crores from subsidiaries of Adani Power Limited on February 18, 2026. The orders encompass critical infrastructure development for two major ultra supercritical thermal power projects, marking a significant milestone for the engineering and construction company.

Order Details and Financial Impact

The company has secured two substantial contracts with a combined value exceeding ₹1,000 crores, excluding GST and other applicable taxes. The orders demonstrate Power Mech Projects' capabilities in handling large-scale power infrastructure projects.

Scope of Work and Technical Specifications

Both contracts involve comprehensive onsite services for erection, testing, commissioning and manpower assistance for performance guarantee tests. The scope encompasses critical power generation equipment including steam generators and steam turbine generators along with their auxiliaries.

The projects represent advanced ultra supercritical thermal power technology, which offers higher efficiency and reduced emissions compared to conventional thermal power plants. Each project involves twin units of 800 MW capacity, totaling 1,600 MW per project.

Project Execution Framework

The contracts specify execution within 36 months from the required erection start date as notified in the Notice to Proceed. Both projects are domestic in nature and involve established subsidiaries of Adani Power Limited as clients.

Client Profile and Market Position

Mirzapur Thermal Energy (UP) Private Limited operates under CIN U40300GJ2010PTC117810, while Mahan Energen Limited functions under CIN U40100GJ2005PLC147690. Both entities are subsidiaries of Adani Power Limited, one of India's largest private thermal power producers.

The orders confirm that neither contract falls within related party transactions, and Power Mech Projects' promoters have no interest in the awarding entities. This ensures arm's length commercial arrangements and transparent business dealings.

Strategic Significance

These orders reinforce Power Mech Projects' position in the power sector infrastructure development market. The company's expertise in steam generator and steam turbine generator systems positions it as a key player in India's thermal power expansion programs. The contracts also highlight the company's capability to handle multiple large-scale projects simultaneously across different geographical locations.