Power Mech Projects Ltd announced the ₹549.37 crore O&M deal with Moxie Power Generation Ltd, a unit of the Adani Group. The contract spans 60 months, from October 2026 to September 2031, covering full mechanical, electrical, instrumentation and ash‑handling systems at the 2×600 MW Tuticorin plant.
Earlier this month the company secured a ₹279.20 crore order from Telangana Power Generation Corporation for its Yadadri Thermal Power Station, roughly half the value of the Adani contract but still a significant boost to the 3‑year O&M portfolio. The dual wins pushed PMPL shares up 1.44%, closing at ₹2,394.20 on BSE.
The Moxie deal is not a related‑party transaction, as per the filing, underscoring the company’s independent bid process. For a sector still hunting for stable long‑term revenue, a 60‑month O&M agreement with a large domestic player marks a notable win.
Looking ahead, PMPL is eyeing further O&M contracts across the country, with a pipeline of projects slated for the next 12 months. The company’s management hinted at a focus on service‑based growth, which could position it favorably for the next earnings cycle. Investors will watch the July quarter for any expansion in service revenues and margin improvement.