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Power Mech Projects Limited — Investor Presentation 2025
Nov 12, 2025
60676_rns_2025-11-12_d32c57e8-7a0f-43e6-8c7f-c7cfc7103f0e.pdf
Investor Presentation
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Date: November 12, 2025
To To Listing Department Dept. of Corp. Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Dalal Street Bandra (E), Mumbai – 400 051 Mumbai- 400001 Through: NEAPS Through: BSE Listing Centre Symbol/Security ID: POWERMECH Security Code: 539302
Dear Sir/Madam,
Sub: Investor Presentation ****
Please find the enclosed Investor Presentation on the Un-audited Financial Results of the Company for the quarter and half year ended September 30, 2025.
The above information is also available on the website of the Company: - https://powermechprojects.com/investor presenations/
Thanking you. Yours faithfully, For Power Mech Projects Limited
Digitally signed by MOVVA MOVVA RAGHAVENDRA RAGHAVENDRA PRASAD PRASAD Date: 2025.11.12 18:45:20 +05'30'
M. Raghavendra Prasad
Company Secretary and Compliance Officer
Encl: as above
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Power Mech Projects Limited Investor Presentation - November 2025
0
Disclaimer
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This investor presentation has been prepared by Power Mech Projects Limited and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof), delivered or supplied, should not be deemed to constitute an offer
No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain statements made in this presentation may not be based on historical information or facts and may be ‘forward-looking statements’, including those relating to the general business plans and strategy of Power Mech Projects Limited, its future financial condition and growth prospects, future developments in its industry, and its competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, ‘horizons of growth’, ‘strong growth prospects’, among many others, or similar expressions or variations of such expressions. These forward-looking statements involve a number of risks, uncertainties, and other factors that could cause actual results, opportunities, and growth potential to differ materially from those suggested by the ‘forward-looking statements’
Power Mech Projects Limited may alter, modify, or otherwise change, in any manner, the content of this presentation without obligation to notify any person of such revision or changes. This presentation cannot be copied and disseminated in any manner
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I. Overview & business profile
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Power Mech: We are at-scale, and a leading industrial & infrastructure services provider
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Scale & Leadership: India’s market leader in O&M services 1 India’s Market leader in O&M services managing 75 GW+ across industrial, infrastructure assets & power segments Diversified Engineering and Infrastructure execution based on strong 2 technical services From power-plant construction to metro, water, and civil infra with 25 years of multisector project delivery with engineering depth and reliability Sustainable & overseas growth over the years 3 Strong, growing overseas presence and disciplined financial performance driving high profitability
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From foundation to future – 25 years of building leadership & scale
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Built by passion, relationships, and resilience
2010-2015
1999
Initial days: The firm started out in the power sector (gas turbine overhauling for a major utility) and entered the Erection & Commissioning and O&M segments in India
2000–2010
Strengthening core power-plant services: ETC of boilers/turbines, overhauling and maintenance contracts for large power plants in India
Diversification: Company expands services into non-power sectors (industrial plants, rail/metro, water), enters overseas markets & attains major growth in scale of operations
2016-2020
Consolidation and service
leadership: Establishes large O&M footprint, strengthens asset base and manpower, leverages infrastructure growth in India
2014-2015
Public listing / scaling up: Company prepares IPO and significantly increases visibility, order book
2020-2025
Strategic pivot & next-wave growth: Entry into mining, backward/forward integration, large order-book scale up, aligning with India’s infrastructure pipeline (NIP) and global operations
2026 and beyond
Strategic focus to transform into an integrated services providers across industries
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Our established track record over the years
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9,262 MW 2.71 Lakhs MT 75,042 MW >30.29 Lakhs MT Commissioned in Structural Fabrication Unit capacity of the Erection Works power sector in works O&M & AMC overseas markets 70,626 MW 15 Lakhs sq. ft. Capacity addition Completed infra 546 Km 11.8L inch mts of Boiler, Turbine, development work Execution of Natural Gas Of piping at Dangote, Generator and Balance within a year Cross Country Pipeline Nigeria of Plant at Vizag, AP 132Kv Lines & 756 TKM 30.92 Lakhs m[3] 220Kv GIS 33/11 Kv SS Commissioned overhead Concreting works Substation works Commissioned in Assam Electrification works carried out
132Kv Lines & 33/11 Kv SS Commissioned in Assam and MP
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Multi segment presence backed by strong technical execution
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Erection, Testing &
Operations &
Commissioning
Maintenance
(ETC)
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Power Non-Power Power
Execute full-scope erection, testing & commissioning of BTG/BOP systems (including FGD/SCR) across power, nuclear, oil-&-gas, petrochemicals, steel & minerals
Provide integrated mechanical, electrical & C&I services including control-room/desk operations, boiler/turbine/auxiliary overhauls, long-term AMCs for utility & captive plants
>30.29 Lakhs MT Erection Works complete
75,042 MW Unit capacity of the O&M & AMC
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Civil
infrastructure
Power Non-Power
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Deliver civil/structural construction for power, industrial & urban infrastructure -- foundations, decks, cooling towers, CHPs, roads and coal‐handling plants
30.92 Lakhs m[3] Concreting works carried out
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Mining,
Development &
Operations (MDO)
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Develop mine infrastructure, mineral processing operations & manage full contract mining leveraging PMPL’s execution & O&M strengths
9 Mn MT / annum Peak rated Mining capacity
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Our domestic clients base
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Central Organization for
Railway Electrification (CORE)
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Not exhaustive
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Our International clients base
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Not exhaustive
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Board of directors
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Mr. Sajja Kishore Babu (Founder, CMD)
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37+ years experience in Power and Infrastructure sector
-
Serves on Board of subsidiary and joint venture companies
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Holds a Bachelor degree in Mechanical Engineering
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Mr. S. Rohit (Executive Director)
-
Leads Overseas Operations, Business Development, Corporate Strategy and digital initiatives for Power Mech group of companies
-
MBA from University of Oxford & Master’s Engineering Management degree from USC
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Mr. Vivek Paranjpe (Independent Director)
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45+ years experience in leadership roles
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Previous associations include Hewlett Packard, Reliance Industries Ltd
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Holds B.Sc (Honors) from Fergusson College, Pune and Post-Graduate degree from XLRI Jamshedpur
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Mr. M Rajiv Kumar (Non-Executive Director)
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38+ years experience in BHEL
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Rose to the level of Executive Director, Power Sector, Eastern Region
-
Mr. Kumar is a graduate in Electrical Engineering
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Ms. Sajja Lakshmi (Non-Executive Director)
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Holds a place in the HR management of the Company and CSR Committee
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Ms Lakshmi is a science graduate who is deeply engaged in social service
Mr. J P Chalasani (Independent Director)
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40+ years experience in the Indian infrastructure industry
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He is the CEO of Suzlon Energy Limited
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• Previous associations include NTPC, Reliance Power, Punj Lloyd and others
Mr. B Prasada Rao (Independent Director)
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37+ years experience at BHEL, including over 6 years as Chairman & MD & holds directorship in 5 companies
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• He is also a member of 2 committees constituted by Government of India
Ms. Lasya. Y (Independent Director)
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16+ years exp. In IT Project Management & delivery, client engagement, IT strategy, business development
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Holds Post-Graduate in Management from ISB and MS in Electrical & Computer Engineering from the University of Texas
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II. Business highlights
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Investment case – Sustained growth momentum & strong outlook Strong Q2 performance underscores consistent value creation & sets a foundation for next phase of growth
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| Leadership in Power services |
• • |
India’s largest O&M service provider with 20% market share in Power O&M, with 75+ GW under management across power, industrial, and process plants Strong positioning in EPC and O&M,offering an E2E capability from erection to operations |
|---|---|---|
| Integrated | • | 4 complementary segments- Erection & Commissioning, O&M, Infrastructure Construction, |
| & diversified | and MDO | |
| business model | • | Strategic expansion intoadjacent sectors&high-value EPC projects(BOP, water, roads) |
| Robust growth | • | INR 16,700+ Cr order book(exc. MDO) providing3+ years of revenue visibility |
| momentum | • | INR 4,800+ Cr new orders so far in FY 26, includingINR 1,270 Cr in Q1, INR 1,000 Cr in Q2 & |
| and visibility | INR 2,550 Cr in Q3 till date – includingmarquee wins from BHEL, Adani, SJVN & NTPC JV | |
| Margin growth & sustainable long-term recurring revenue levers operationalized |
• • • |
High-margin MDOcontracts worth INR39,500+ Cr operationalized Long-term annuity cash flows(~23 years) ensuring stability Focus ondigital transformation across sites to enhance uptime and efficiency |
| Technical | • | 10k+ trained technical workforcedeployed across global projects |
| talent driven | • | Proven expertise inexecuting complex, large-scale and technology-intensive projects |
| execution excellence | driving consistent delivery excellence – a key competitive edge |
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||||||
|---|---|---|---|---|
|Total new order wins of INR 4,800 + Cr so far, with strategic wins|
|driving scale, reinforcing Power Mech's integrated power & infra positioning|
|Customer|Scope of work|Strategic significance|
|•|
|Strengthens position in large-scale|
|EPC package for balance of plans|EPC & BOP execution|for super|
|2,500+ Cr|BHEL|(BOP) at 1X800 MW Singareni|Super|thermal projects|
|•|
|Thermal Power Project|Reinforces presence in the power|
|segment|with a marquee PSU client|
|•|
|Strengthens presence in|
|Civil works & erection of|
|Mahan Energen|large-scale power EPC segment|
|370+ Cr|prefabricated structural steel for|
|•|
|Ltd (Adani Group)|Expands civil & structural execution|
|BTG units (2×800 MW) –|Phase III|
|capability in the Adani ecosystem|
|•|
|Enhances O&M portfolio scale|
|Comprehensive O&M contract for|
|and visibility|
|SJVN Thermal|2×660 MW coal based supercritical|
|~ 500 Cr|•|Long-tenure annuity contract|(39m)|
|power project|
|supporting stable recurring revenue|
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Consolidated results at a glance
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INR 4,800 Cr+ INR 56,000 Cr+
Order inflow this year Order backlog
48% of target achieved ~5% growth y-o-y
INR 1,238 Cr INR 158 Cr (13%)
Q2 Revenue Q2 EBITDA
20% y-o-y growth 18% y-o-y growth
INR 2,531 Cr INR 340 Cr (13%)
H1 Revenue H1 EBITDA
24% y-o-y growth 33% y-o-y growth
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III. Business performance
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Revenue | Strong and sustained revenue momentum continues, with 20% growth over last year
Amounts in INR Cr
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+20%
1,293
1,238
1,036
Q2 FY25 Q1 FY26 Q2 FY26
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-
Q2 YOY growth was 20% -driven by strong execution across all segments and the ramp up of operations along with the execution of new orders except in the water division.
-
Q2 income declined by 4% compared to Q1- primarily due to seasonal factors such as prolonged monsoon across key sites and absence of exceptional revenue recognized from Riverbed Mineral project in the previous Quarter.
-
Overall trajectory remains positive - Core operations continue to deliver a healthy y-o-y growth of around 20%, inline with full year projections.
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Segment revenue | Consistent momentum with strong execution in core segments & emerging MDO growth
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Amounts in INR Cr
Segment wise revenue (INR Cr)
•
Power segment momentum
1,294 sustained - Strong traction in
1,238
26
1,036 67 22 31 industrial power construction
9 12 581 309 projects
395
•
439 Temporary slowdown in civil &
391 398 Electrical works – due to extended
229 222 435 rains across key sites and delayed
bill certifications in the Water
Q2 FY25 Q1 FY26 Q2 FY26
division
•
Segment wise revenue (In %) O&M growth gaining pace -
1% 1% 5% 2% 2% Supported by new order inflows
3%
38% 25% during the year
45%
•
MDO share rising - Share in total
36%
38% 31% revenue up by ~2% YoY; KBP mine
22% 17% 35% revenue expected to begin from
Q3 onwards
Q2 FY25 Q1 FY26 Q2 FY26
Erection works O&M Civil works Electrical MDO
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Margins | Stable margins achieved; Uptrend expected in coming quarters as MDO revenue scales up
Amounts in INR Cr
| • ~ Margins remain steady, broadly in line with last year's performance – with a marginal dip this quarter due to Q1's exceptional revenue. • PAT margin was slightly softer – Impacted by marginally higher finance costs • EBITDA & PAT margins are expected to improve from Q3 onwards- supported by the scaleup of MDO operations alongside growth in regular business. 134 182 158 13% 14% 13% Q2 FY25 Q1 FY26 Q2 FY26 EBIDTA Margin (%) EBITDA (INR Cr) EBITDA & EBITDA margins PAT & PAT margins 70 81 78 7% 6% 6% Q2 FY25 Q1 FY26 Q2 FY26 PAT Margin (%) PAT (INR Cr) |
• ~ Margins remain steady, broadly in line with last year's performance – with a marginal dip this quarter due to Q1's exceptional revenue. • PAT margin was slightly softer – Impacted by marginally higher finance costs • EBITDA & PAT margins are expected to improve from Q3 onwards- supported by the scaleup of MDO operations alongside growth in regular business. 134 182 158 13% 14% 13% Q2 FY25 Q1 FY26 Q2 FY26 EBIDTA Margin (%) EBITDA (INR Cr) EBITDA & EBITDA margins PAT & PAT margins 70 81 78 7% 6% 6% Q2 FY25 Q1 FY26 Q2 FY26 PAT Margin (%) PAT (INR Cr) |
• ~ Margins remain steady, broadly in line with last year's performance – with a marginal dip this quarter due to Q1's exceptional revenue. • PAT margin was slightly softer – Impacted by marginally higher finance costs • EBITDA & PAT margins are expected to improve from Q3 onwards- supported by the scaleup of MDO operations alongside growth in regular business. 134 182 158 13% 14% 13% Q2 FY25 Q1 FY26 Q2 FY26 EBIDTA Margin (%) EBITDA (INR Cr) EBITDA & EBITDA margins PAT & PAT margins 70 81 78 7% 6% 6% Q2 FY25 Q1 FY26 Q2 FY26 PAT Margin (%) PAT (INR Cr) |
|||
|---|---|---|---|---|---|
| • ~ Margins remain steady, broadly in line with last year's performance – with a marginal dip this quarter due to Q1's exceptional revenue. • PAT margin was slightly softer – Impacted by marginally higher finance costs • EBITDA & PAT margins are expected to improve from Q3 onwards- supported by the scaleup of MDO operations alongside growth in regular business. |
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Order inflow & position | Strong order momentum till date worth INR 4,800+ Cr; Driving towards INR 10,000 Cr milestone in FY 26
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Amounts in INR Cr
Order Inflow (Exc. MDO) Order backlog (Inc. MDO)
FY 22 4,231 FY 22 18,149
FY 23 8,479
FY 23 23,027
FY 24 8,314
FY 24 57,053
FY 25 6,347
FY25 53,994
FY26 (YTD) 4,889
FY26 (Est.) 10,000 FY 26 (YTD) 56,353
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-
Record order inflows exceeding INR 4,800+ Cr so far in FY 26 , driven by major wins across EPC, O&M, and renewable projects
-
Diversified order base spanning thermal, civil, solar, and township infrastructure , with marquee clients such as BHEL, Adani Group, SJVN & TGgenco providing multi-sector growth visibility
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IV. Financial disclosures
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Consolidated profitability statement
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| solidated profitability statement | solidated profitability statement | solidated profitability statement | solidated profitability statement | solidated profitability statement | solidated profitability statement | solidated profitability statement | solidated profitability statement |
|---|---|---|---|---|---|---|---|
| Rs. Cr | |||||||
| Particulars | Q2FY26 | Q1FY26 | Q2FY25 | YOY | 6M FY26 | 6M FY25 | YOY |
| Revenue from Operations | 1,237.87 | 1293.41 | 1035.49 | 20% | 2531.29 | 2042.89 | 24% |
| Other Income | 10.93 | 11.37 | 10.11 | 22.31 | 19.34 | ||
| Total Revenue | 1,248.80 | 1,304.78 | 1,045.60 | 19% | 2,553.60 | 2,062.23 | 24% |
| Material Consumed | 222.51 | 96.52 | 168.97 | 319.04 | 316.65 | ||
| Contract Execution Expenses | 668.65 | 820.47 | 568.49 | 1489.12 | 1141.85 | ||
| Employee Cost | 175.93 | 170.88 | 154.41 | 346.82 | 306.04 | ||
| Other Expenses | 23.72 | 34.54 | 19.95 | 58.26 | 40.99 | ||
| EBITDA | 157.99 | 182.37 | 133.78 | 18% | 340.36 | 256.70 | 33% |
| EBITDA Margin | 12.65% | 13.98% | 12.79% | -14bps | 13.33% | 12.45% | 88 bps |
| Depreciation | 17.42 | 16.43 | 13.31 | 33.85 | 25.72 | ||
| EBIT | 140.57 | 165.94 | 120.47 | 17% | 306.51 | 230.98 | 33% |
| EBIT Margin | 11.36% | 12.83% | 11.63% | -28 bps | 12.11% | 11.31% | 80 bps |
| Finance Cost | 28.4 | 29.43 | 18.92 | 57.84 | 40.66 | ||
| Share of profit of Associates | 0.8 | 0.92 | 0.65 | 1.73 | 1.27 | ||
| Profit before Tax | 111.37 | 135.59 | 100.90 | 10% | 246.94 | 189.05 | 31% |
| PBT Margin | 9.00% | 10.48% | 9.74% | -75 bps | 9.76% | 9.25% | 50 bps |
| Tax | 33.26 | 55.04 | 31.39 | 88.31 | 57.81 | ||
| PAT | 78.11 | 80.55 | 69.51 | 12% | 158.63 | 131.24 | 21% |
| PAT Margin % | 6.31% | 6.23% | 6.71% | - 40 bps | 6.27% | 6.42% | - 15 bps |
| Non Controlling Interest | 3.19 | 28.03 | 2.44 | 31.2 | 4.03 | ||
| PAT after Non Controlling Interest | 74.92 | 52.52 | 67.07 | 12% | 127.43 | 127.21 | 0% |
| PAT Margin % | 6.05% | 4.06% | 6.48% | -43 bps | 5.03% | 6.23% | - 119 bps |
| EPS | 23.7 | 16.61 | 21.22 | 40.31 | 40.24 |
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Consolidated Balance sheet
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Consolidated cash flow statement
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Contact us
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For further information, please contact:
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CIN: L74140TG1999PLC032156
CS: Mr. M. Raghavendra Contact: +91-40-30444418 / +91 9948041312 Email: [email protected] www.powermechprojects.com
Thank You
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