Q3 2024 Power Mech Projects Ltd Earnings Call Transcript
Key Points
- Power Mech Projects Ltd (BOM:539302) reported a 22% growth in total income for Q3 FY24 compared to the same quarter last year.
- EBITDA for Q3 FY24 increased by 34% year-over-year, indicating improved operational efficiency.
- The company has a healthy order book of INR57,328 crores, including both domestic and international projects.
- Power Mech Projects Ltd (BOM:539302) is now a net debt-free company, with a debt-to-equity ratio of 0.28 as of December 31, 2023.
- The company has started mining operations in its MDO projects, with significant coal production expected to ramp up in the coming years.
- The electrical business segment saw a decline of 10% due to lower order bookings.
- O&M business remained flat in Q3 FY24, showing no significant growth compared to the previous year.
- The company had to pay an additional liability of INR26.21 crores towards income tax and INR11.91 crores towards interest on income tax due to a tax raid.
- There is a slowdown in some projects due to political disturbances and pending approvals, particularly in the Jharkhand region.
- The company faces challenges in the competitive landscape, especially in the thermal power sector, which has seen a lull in recent years.
Ladies and gentlemen, good day, and welcome to the Q3 FY24 earnings conference call of Power Mech Limited, hosted by Nirmal Bang Equities Private Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Natasha Jain from Nirmal Bang Equities. Thank you, and over to you.
Thank you, Yasha-shri, and good afternoon to all participants. Nirmal Bang Institutional Equities welcomes you all to the third-quarter FY24 earnings conference call for Power Mech Projects Limited.
From the management team today, we have Mr. S. Ramaiah, Director, Business Development; Mr. Rohit Sajja, President, Business Development and Operations; and Mr. N. Aravind, Chief Financial Officer.
I now hand over the call to the management for opening remarks, post which we can take questions from the participants. Thank you, and over to you, sir.
Thank you,
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