Power Mech Projects Ltd

Power Mech Projects Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, concerning the utilization of proceeds from its Qualified Institutional Placement (QIP). The report, issued by CARE Ratings Limited, confirms that the utilization of the Rs. 343.40 crore QIP proceeds is in line with the objects disclosed in the Offer Document. The company raised Rs. 350 crore through the QIP between October 18-23, 2023. CARE Ratings Limited, acting as the Monitoring Agency, has declared that there are no deviations from the stated objects and no material deviations in expenditures. The report is submitted as per SEBI regulations.

Power Mech Projects Ltd announced that Mrs. Lasya Yerramneni, Non-Executive Woman Independent Director, will retire upon completion of her second and final term on June 26, 2026. The company expressed gratitude for her contributions to the Board and its various committees, including Audit, Nomination and Remuneration, Stakeholders Relationship, and CSR. Her cessation is due to the completion of her tenure as per SEBI Listing Regulations.

Power Mech Projects Ltd has announced the closure of its trading window for dealing in the company's securities. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The trading window will be shut from July 1, 2026, until 48 hours after the declaration of the un-audited financial results for the first quarter ended June 30, 2026. This restriction applies to all designated persons, their immediate relatives, and connected persons.

Power Mech Projects Ltd has announced securing a significant order worth ₹1,008.90 Crores (inclusive of GST) from JSW Thermal Energy Limited. The contract involves undertaking Civil & Structural Works for the Balance of Plant (BOP) Area of a 2x800 MW Thermal Power Project located in Salboni, West Bengal. The execution of this order is expected to be completed within 36 months from the effective date of commencement. This order from a domestic entity, JSW Thermal Energy Limited, is a notable business development for Power Mech Projects.

Power Mech Projects Ltd has announced the appointment of Mrs. Vasundhara Sinha as an Additional Director in the category of Non-Executive Independent Director. The appointment was approved via a circular resolution by the Board of Directors on June 20, 2026, based on the recommendation of the Nomination and Remuneration Committee. Mrs. Sinha, a retired 1988-batch Indian Revenue Service (IRS) officer, brings extensive administrative, financial, and regulatory expertise, including her former role as Principal Chief Commissioner of Income Tax and Director General of Income Tax (Investigation). Her term is for two years, subject to shareholder approval. She is not related to any existing directors and has not been debarred from holding a director's office.

Power Mech Projects Ltd has announced securing a significant order worth ₹266.26 Crores (excluding GST) from Adani Infrastructure Management Services Limited, a part of the Adani Group. The contract is for providing KPI-based Operations and Maintenance (O&M) services for a 2x300MW Thermal Power Plant located in Butibori, Maharashtra. The execution period for this contract is within 60 months, commencing from July 1, 2026, to June 30, 2031. This order underscores the company's capabilities in the power plant O&M sector and strengthens its business pipeline with a major conglomerate.

Power Mech Projects Ltd identified typographical errors in the consolidated financial statements for the quarter and year ended March 31, 2026, initially submitted on May 20, 2026. The errors pertain to the 'Current Tax Asset (net)' and 'Other Current assets' figures. Corrected financial statements have been issued. The company confirms that these corrections do not impact the final figures reported in the balance sheets or affect stakeholders.

The Board of Directors of Power Mech Projects Ltd approved a final dividend of 15%, which is ₹1.50 per equity share of ₹10 each, for the financial year ended March 31, 2026. The dividend is subject to shareholder approval at the upcoming annual general meeting and will be paid within 30 days of approval. The board meeting commenced at 2:30 p.m. (IST) and concluded at 6:50 p.m. (IST).

Power Mech Projects Ltd's board approved audited financial results for the year ended March 31, 2026, and declared a final dividend of 15% (₹1.50 per share). They also appointed M/s. M P R & Associates as Cost Auditors for FY2025-26, subject to shareholder ratification. The board meeting concluded at 6:50 p.m. (IST).

Power Mech Projects Ltd's board approved the audited financial results for the year ended March 31, 2026, and declared a final dividend of 15% (₹1.50 per share). The dividend is subject to shareholder approval. M/s. M P R & Associates were appointed as Cost Auditors for FY2025-26, pending shareholder ratification. The Board meeting concluded at 6:50 p.m. (IST).