Power Mech Projects wins ₹549 crore order

Power Mech Projects Limited has secured an operation and maintenance order worth ₹549.37 crore from Moxie Power Generation Limited, an Adani Group company. The contract runs for five years, from October 1, 2026 to September 30, 2031. The order covers complete operation and maintenance services for the 2x600 MW Moxie Power Generation Tuticorin thermal power plant. This follows a ₹279.20 crore order announced in September and a ₹970 crore order from Vedanta Power earlier in the month. The order inflow is worth tracking because O&M contracts can provide multi-year revenue visibility rather than being limited to a one-time project execution. The company also reported Q1 FY27 consolidated revenue of ₹1,623.68 crore, up 25.5% year on year, while net profit rose 51.9% to ₹79.78 crore. My view is that the latest order strengthens the company's execution visibility, but I would not look at order wins alone. The next key check is whether revenue growth and margins continue to support the order-book expansion. The stock closed around ₹2,486 on September 30 after touching an intraday high of ₹2,535. I would watch the ₹2,535 zone for price confirmation. A sustained move above this level with volume would make the setup worth monitoring. Stance: Positive on order visibility, but waiting for price confirmation. Disclosure: I do not hold a position in Power Mech Projects Limited as of the time of writing.