Hold Power Mech Projects; target of Rs 578: Reliance Securities

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Reliance Securities' research report on Power Mech Projects

Power Mech Projects (PMPL) has delivered a healthy performance in 1QFY18 with its consolidated revenue growing by 10.0% YoY to Rs3.58bn owing to continued strong growth in Civil & Other Works segment. However, revenues from Erection Testing & Commissioning (ETC) segment declined by 17.97% YoY to Rs1.44bn due to slowdown in domestic thermal power capacity addition. We believe that dominant position in power EPC business, impressive order book and superior execution capability will drive PMPL’s profitability, going forward.

Outlook

Hence, we change our recommendation to HOLD with an upwardly revised Target Price of Rs 578 (from Rs 565 earlier) based on multiple of 9x P/E of FY19E.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More