Power Mech Projects And Capacite Infraprojects Order, Eimco Elecon Excellent Results

Power Mech Projects Ltd.

Recent filing: (ORDER) Power Mech Projects has secured three orders aggregating to INR 232 Cr, with two orders from BHEL and one from Jindal Steel. This comprises INR 123 Cr for three packages at 2X660 MW NTPC Talcher Odisha, and INR 52.7 Cr for balance Civil and Architectural works at Yadadri TPS Unit 4 & 5 from BHEL. Additionally, Mechanical Structure Erection works at PP2 and Balance Quantity of Coke Oven Projects (Battery 5&6) at Jindal Steel Odisha Limited (JSOL), Angul, amounting to INR 56.4 Cr, were awarded by Jindal Steel. These projects have durations of 32, 15, and 14 months, respectively.

SUMMARY: 3y Operating Profit uptrend | 2q Operating Profit uptrend | PE 33.2x (Sector PE range 30-50) | Excellent Dec-23 results | Fund raise | Orderbook INR 57,328 Cr (13th Feb ‘24), 14x of TTM Sales | Institutional Entry | Electrification

  • MCap of INR 7,908 Crore (share price = INR 5,003 / share) (as on 19th Apr ‘24)
  • TTM PE 33.2x (as on 19th Apr ‘24) Retail float = 10.3% (Mar-24)

FOOD FOR THOUGHT: Promoters sold INR 2 Cr worth of shares in the month of March ‘24

What are the products and services of Power Mech?

Established in 1999, Power Mech Project is one of the leading infrastructure-construction companies based in Hyderabad with global presence, providing spectrum of services in power and infrastructure sectors. Strategic foray into Railways, Water Projects, Roads, Coal Mining, Cross Country Pipelines, Material Handling & Manufacturing leading to widening focus from Power to Non-Power sectors.

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Capacite Infraprojects

Recent filing: (ORDER) Capacite Infraprojects has received an order worth INR 549 Cr. This order consists of two projects: one from Microtech Developers Ltd. (Lodha Group) for a luxury residential project in Worli, Mumbai, valued at INR 256 Cr, and another from Raymond Limited (Realty Division) for additional building work in Thane and scope enhancement for an existing building, amounting to INR 293 Cr.

SUMMARY: No operating profit uptrend | PE 28.4x (Sector PE range 30-40) | Fund Raise | Healthy orderbook of INR 9,670 Cr (as on Dec 2023), 5.6x of TTM sales | Institutional entry

  • MCap of INR 2,559 Crore (share price = INR 302 / share) (as on 19th Apr ‘24)
  • TTM PE of 28.4x (as on 19th Apr ‘24) Retail float = 18.4% (Dec-23)

FOOD FOR THOUGHT: No strong operating profit uptrend

What are the products and services of Capacite Infraprojects?

Capacite Infraprojects is a building construction company having presence in MMR, NCR, Bangalore, Hyderabad, Chennai, Kochi and Pune, with specialization in construction of super rise buildings.

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Eimco Elecon (India) Ltd.

Recent filing: (EXCELLENT RESULTS) For the quarter ending Mar-24 for Eimco Elecon, Sales up 31% YoY from INR 64.2 Cr in Mar-23 to INR 84.3 Cr in Mar-24. Similarly, Net Profit up 54% from INR 9.6 Cr to INR 14.8 Cr. On a QoQ basis, Sales up 75% and Net Profit up 97%.

SUMMARY: 2y Operating Profit uptrend | PE 28.8x (Sector PE range 30-60) | Excellent Mar-24 Results

  • MCap of INR 1,110 Crore (share price = INR 1,924 / share) (as on 19th Apr ‘24)
  • TTM PE 28.8x (as on 19th Apr ‘24) Retail float = 18.0% (Mar-24)

FOOD FOR THOUGHT: Business susceptible to the performance of the underground coal mining segment, which has been sluggish over the past decade

What are the products and services of Eimco Elecon?

Established in 1974, Eimco Elecon is an established manufacturer and supplier of various Mining and Construction Equipment in India with operations supported by network of Sales and Service establishments located at various strategic locations throughout the country.

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