Power Mech Projects (POWERMECH) Q4 25/26 earnings summary

Executive summary

• Q4 FY26 revenue grew 13–14% year-over-year, reaching INR 2,121 crore, with full-year revenue at INR 6,107 crore, up 16% year-over-year.

• PAT for Q4 FY26 was INR 153 crore, up 18% year-over-year; full-year PAT was INR 412 crore, up 18%.

• Order inflow for FY26 was INR 7,210 crore, with a robust order backlog of INR 55,151 crore, despite a major BESS order cancellation.

• Strategic expansion into metro O&M, solar, and high-value EPC projects, with continued focus on high-margin, recurring business.

• Audited standalone and consolidated results for FY26 were approved, with a 15% final dividend (₹1.50 per share) proposed.

Financial highlights

• Q4 FY26 EBITDA was INR 237 crore, up 2% year-over-year; EBITDA margin at 11.2%.

• Full-year FY26 EBITDA was INR 750 crore, up 16% year-over-year; EBITDA margin stable at 12.3%.

• PAT margin for Q4 FY26 improved to 7.3% from 7% year-over-year.

• Net cash from operating activities in FY26 was INR 429.8 crore (consolidated).

• Standalone and consolidated EPS for FY26 were ₹94.37 and ₹115.12, respectively.

Outlook and guidance

• FY27 order inflow target is INR 12,000 crore, with focus on BOP EPC and O&M contracts.

• Revenue growth guidance for FY27 is 21%, with EBITDA margin expected to improve to 12.5% as MDO ramps up.

• Multi-year revenue visibility supported by a robust order backlog and pipeline across power, civil, EPC, and O&M.

• Continued emphasis on digital transformation and operational efficiency.