Geojit's research report on Power Mech Projects
Power Mech Projects Ltd is a leading infrastructure-construction company based in Hyderabad with global presence. Q4FY21 revenue grew by 27% YoY backed by strong execution in O&M (29% YoY) and Civil business (75% YoY). Order book remains healthy at Rs7,333cr (3.9x FY21 revenue) led by strong inflow of Rs4,638cr in FY21, which provides revenue visibility for the next two to three years.
We reiterate Buy rating as the impressive order book and superior execution capabilities will drive earnings growth and we value the stock at a P/E of 7x FY23E earnings with a target price of Rs.894.
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