Power Mech Q2 FY27 slides: 30% revenue growth, margin recovery

Power Mech Projects Limited reported a 30% year-over-year revenue growth of INR 1,609 crore in Q2 FY2027, driven by performance across its industrial and infrastructure services. Despite a muted stock response, the company's market-leading position as India's largest O&M service provider was reaffirmed. Industrial Services saw the strongest growth at 51% year-over-year, while Infrastructure Construction and Industrial Construction experienced 75% and 25% growth respectively.

EBITDA margin improved to 11.55% but remained below the 12.65% of Q2 FY26, attributed to higher revenue base from Riverbed Mineral operations. PAT margin declined to 5.46%, mainly due to increased finance costs and higher depreciation charges. The company aims for a minimum operating margin of 11.6% without other income and expects margin expansion through MDO business scaling and O&M contracts.

Power Mech's order backlog reached INR 56,729 crore as of September 2026, providing over two years of revenue visibility.