Promax Power bags fresh orders worth Rs43 crore; stock hits upper circuit

7 Mar 2022 , 09:20 AM

Promax Power Limited, a Power and infrastructure EPC company has secured fresh orders of Rs43 crore across its various business verticals:

Civil and Water: Secured new order for Rs22.77 crore for the water project. The scope will include Implementation and development of infrastructure for internal and peripheral Sewer line including construction of manholes & appurtenances and restoration of roads.

Transmission & Distribution (T&D): Declared as the lowest bidder for the order worth of Rs13.67 crore for construction Power Package for an Industrial Project. The scope will include design, engineering, manufacture, assembly, testing at manufacturer’s works of all equipment, materials & accessories, storage, unloading including all, Electrical, HVAC, civil & structural work, complete and efficient erection, testing, commissioning & putting into successful commercial operation of the entire construction power distribution system.

Prior to this, Company signed the contract for the order of Rs6.54 crore for construction 66 kV Substation for 120 MW Solar PV Plant in Gujarat. The scope will include to Design, engineering, manufacturing, supply, erection, testing and commissioning, till handover of 2x63MW 66/33kV Pooling Substations for 2x60MW PV solar power generating station including installation of Metering & SCADA scheme.

The company stock was bullish during early trade on Monday despite bearish markets. The stock hit a 5% upper circuit of Rs29.90 per piece up Rs1.40 on the BSE. 

Vishal Bhardwaj, MD, Promax Power Limited commented, “Our order book continues to grow across all our business verticals. This order will help the company to strengthened and consolidates its presence in the water, Renewal and T&D EPC sector.”