Power Mech Projects (POWERMECH) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue reached INR 1,632 crore, up 26% year-over-year, driven by strong execution in core verticals including Civil Infra, Industrial EPC, O&M, and international projects.

• EBITDA was INR 176 crore at a 10.8% margin, down 3% year-over-year due to higher material and execution costs, increased royalties, and lower margins in mining.

• Profit after tax after minority interest rose 53% year-over-year to INR 80 crore, with EPS at INR 25.23 versus INR 16.61 last year.

• Order inflows reached INR 1,864 crore in Q1 FY27, including major wins from JSW, Adani, and MMMOCL, expanding the order book to INR 55,398 crore (including MDO).

• Board approved unaudited financial results and a new ESOP scheme for eligible employees, subject to shareholder and regulatory approval.

Financial highlights

• O&M revenue grew 8% year-over-year to INR 431 crore, supported by new order inflows.

• Civil segment revenue was INR 796 crore, up 28% year-over-year; industrial construction revenue was INR 270 crore, down 13% year-over-year, offset by industrial EPC at INR 96 crore.

• Mining revenue surged 223% year-over-year to INR 84 crore, driven by KBP mine ramp-up.

• PAT for Q1 FY27 was INR 89 crore (5.5% margin), up 11% year-over-year.

• EPS for Q1 FY27 stood at INR 25.23, up from INR 16.61 in Q1 FY26.

Outlook and guidance

• Management targets full-year revenue of INR 7,300 crore and expects to achieve 12.5% EBITDA margin for FY27.

• O&M revenue is projected to grow 28% year-over-year to INR 2,089 crore.

• Mining (MDO) revenue guidance for FY27 is INR 500 crore, with ramp-up to INR 1,100–1,200 crore in FY28 and margins improving to 21–23% by FY29.

• Order inflow target for FY27 is INR 12,000 crore, with a strong pipeline in power, non-power, and infrastructure.

• ESOP scheme introduced to incentivize and retain employees, with up to 1,000,000 options to be granted, vesting over 3–5 years.