Power Mech Projects surges to ₹2,493.40 on Wednesday after landing a ₹970 crore operations and maintenance deal from Vedanta Power.

The order covers Vedanta Power’s 2×600 MW Sakti Thermal Power Plant at Singhitarai village in Chhattisgarh’s Sakti district.

Power Mech will run and maintain the coal based plant end to end for the next 60 months, starting once the Letter of Intent or order confirmation is issued.

Here’s how the money breaks down. ₹890 crore is the basic contract value, and another ₹80 crore is set aside for additional services if they come up. Both numbers exclude GST.

Spread across five years, that turns into steady, recurring revenue rather than a lump sum, which is generally the kind of order book quality that matters more than a single headline figure.

Power Mech confirmed it has no promoter or group company stake in Vedanta Power, so this stays outside related party transaction territory.

Clean deal, no conflicts to disclose. Separately, the company has set September 10 as the record date for its final FY26 dividend of ₹1.50 per share.

The board approved this dividend back in May, and shareholders will vote on it at the AGM on September 17. If cleared, the payout goes out within 30 days.

Power Mech’s core business runs through power plant construction, erection and O&M work, so this contract lines up with what the company already knows how to do.

It also brings a private sector name onto a client roster that’s traditionally leaned public sector, adding a bit of variety there.

The stock closed at ₹2,430.10 on Wednesday, up 0.62% for the day on the NSE.

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