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Buy Power Mech Projects; target of Rs 894: Geojit

Geojit is bullish on Power Mech Projects has recommended buy rating on the stock with a target price of Rs 894 in its research report dated Jun 28, 2021.

June 28, 2021 / 02:19 PM IST
 
 
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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.



Outlook


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.


For all recommendations report, click here

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first published: Jun 28, 2021 02:19 pm

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