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Power Mech Projects Ltd posts financial results for Q4, FY19

Posted On: 2019-05-24 10:38:32

Power Mech Projects Limited has announced its audited financial results for the quarter and year ended March 31, 2019.

Consolidated Q4FY19 Vs. Q4FY18 Performance Highlights:

- Total income stood at Rs. 659.6 Cr in Q4 FY19 as against Rs. 489.7 Cr in the Q4 FY18 with a robust growth of 35% mainly on account of strong order book in both power & non power sector including international business

- EBITDA stood at Rs. 88.1 Cr in Q4 FY19 as against Rs. 64.2 Cr in Q4 FY18, growth of 37%

- EBITDA Margin was at 13.4% in Q4 FY19 as against Q4 FY18 13.1%, ? Profit after Tax stood at Rs. 35.0 Cr in Q4FY19 as against Rs. 26.1 Cr in Q4 FY18, growth of 34% on account of operating efficiency

- PAT Margin stood at 5.3%

- EPS stood at Rs. 23.8 in FY19, YoY growth of 34%

Consolidated FY19 Vs. FY18 Performance Highlights:

- Total income for the full year stood at Rs. 2,275.4 Cr in FY19, as against Rs. 1554.6 Cr in the FY18, YoY growth of 46%. This growth has been on account of strong order book & timely execution of orders across all businesses.

- EBITDA stood at Rs. 304.9 Cr in FY19 as against Rs.209.0 Cr in FY18, growth of 46% YoY. Mainly because of increase in international business and mix of some high margin projects executed

- EBITDA Margin was at 13.4% in FY19 as against FY18 13.4% maintained at same level with new business mix

- Profit After Tax stood at Rs. 121.6 Cr in FY19 compared to Rs. 79.5 Cr in FY18,YoY growth of 53%

- PAT Margin stood at 5.3%

- EPS stood at Rs. 82.7 in FY19, YoY growth of 53%

Commenting on the quarterly and full year audited results, Mr. S Kishore Babu, CMD, Power Mech Projects Ltd. said: "In this financial year 2018-19,in spite of several headwinds, the company, for the year has done well to deliver on its targeted outcome.We have registered a very strong revenue growth of over 46% and an increase in our overall profit of 53%. I am happy to share that we have delivered yet another strong performance. Each of our businesses has contributed to this robust growth. All our businesses offer significant headroom for growth and operating leverage as they scale up.We continue to outperform by devoting ourselves in services offered, increasing customer focus and maintaining strong controls over operational costs.

We have embarked on a journey to reduce our dependence on power and focus more into O&M non power sector business. We are also planning to enhance our O&M presence in international markets as well as in non-power sectors.With India having undergone the biggest event in the largest democracy of the world i.e. general elections in the first quarter, despite few disruptions, revival of stressed businesses and recovery of NPAs are expected to ease the concerns on liquidity and perk-up the business sentiment.

We believe we are well positioned to capitalize on opportunities in the industry and will be able to increase our market share increasingly. At the same time, Government reforms in the industry will help companies like ours to continuously improve and perform better with lot of opportunities opening up going ahead. Considering healthy order book with execution momentum in all businesses, we are confident of further improving the current growth momentum in our revenues and profitability.

I thank the entire team of 'Power Mech' for their untiring efforts, hard work, sincerity and high dedication. Also, I would like to thank our valued Shareholders, whose support and faith in our Company has given us the determination and ambition to go from strength to strength."

Shares of Power Mech Projects Ltd was last trading in BSE at Rs.1008.65 as compared to the previous close of Rs. 983.1. The total number of shares traded during the day was 10231 in over 1725 trades.

The stock hit an intraday high of Rs. 1029.7 and intraday low of 965. The net turnover during the day was Rs. 10233278.


Source: Equity Bulls

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