Power Mech Projects Limited announced its Un-audited Financial Results for the quarter and nine months ending December 31, 2025 (Q3 FY2026). The company reported Q3 Revenue of INR 1,433 Cr, marking a 6% YoY growth. EBITDA stood at INR 173 Cr (12.08% margin), up 8% YoY. CMD Sajja Kishore Babu highlighted strategic wins in EPC and BESS, positioning the company for its INR 10,000 Cr inflow target for FY2026.
Power Mech Reports Steady Q3 FY2026 Performance
Power Mech Projects Limited, a leading industrial & infrastructure services provider, announced its consolidated financial performance for the third quarter of FY2026, ending December 31, 2025. The results underscore a sustained growth momentum, with the company focused on accelerating strategic initiatives across core and emerging segments like Battery Energy Storage Systems (BESS).
Consolidated Financial Highlights (Q3 FY2026)
The company delivered consistent operational performance:
- Q3 Revenue was INR 1,433 Cr, reflecting a 6% YoY growth, driven by execution across segments.
- Q3 EBITDA reached INR 173 Cr, registering an 8% YoY increase, with margins steady at 12.08% (a marginal dip attributed to new labor code provisions).
- Profit After Tax (PAT) for the quarter was INR 100 Cr, resulting in a 7% PAT margin.
- For the 9-month period (9M FY26), Revenue grew by 17% YoY to INR 3,987 Cr, and EBITDA grew by 23% YoY to INR 513 Cr (12.88% margin).
- EPS for Q3 FY26 stood at INR 29.73.
Robust Order Book and Visibility
The investment case highlights strong order momentum providing significant revenue visibility:
- Order inflow year-to-date (YTD) for FY26 reached INR 6,761 Cr, achieving 68% of the target. The company remains confident of achieving the INR 10,000 Cr inflow milestone.
- The total Order backlog (including MDO) stands robustly at INR 56,806 Cr, showing a 5% YoY growth.
- High-margin Mining, Development & Operations (MDO) contracts, focused on coking coal, are operationalized at over INR 39,500+ Cr.
Strategic Order Wins Driving Future Scale
The quarter saw several strategic wins reinforcing Power Mech’s integrated positioning:
Key New Wins During the Period:
| Value (Approx.) | Customer | Scope of Work | Significance |
|---|---|---|---|
| 2500+ Cr | BHEL | EPC package for Balance of Plant (BOP) at 1 X 800 MW Singareni Thermal Power Project. | Strengthens large-scale EPC & BOP execution position with a marquee PSU client. |
| 1,563 Cr | West Bengal State Electricity Distribution Company | Setting up a 250 MW/ 1,000 MWhr Standalone Battery Energy Storage System (BESS) under a Build-Own-Operate (BOO) model. | Establishes a reference platform for grid-scale energy storage and expands presence in energy transition infrastructure. |
| 500 Cr | SJVN Thermal | Comprehensive O&M contract for 2 × 660 MW coal-based supercritical power project. | Secures a long-tenure annuity contract (39 months) supporting stable recurring revenue. |
Segment Performance
Segment revenue analysis for Q3 FY26 compared to Q3 FY25 shows shifting dynamics:
In terms of contribution percentage:
- Erection works reduced slightly from 39% to 34% of total revenue.
- O&M remained stable at 39% of Q3 FY25, dipping slightly to 35% in Q3 FY26.
- MDO share is rising, contributing 5% of revenue in Q3 FY26, up from 2% YoY, as KBP mine revenue commenced in late November.
- Civil works contribution remained consistent at 20%.
Leadership Commentary and Outlook
CMD Sajja Kishore Babu confirmed that the diversification efforts into non-power sectors, including civil infrastructure and renewables, continue to broaden the revenue base. A key development was securing the first BOP EPC contract from BHEL, moving the company towards integrated EPC delivery. The strategic focus for 2026 and beyond is transforming into an integrated services provider across multiple industries.
Source: BSE
