Power Mech Projects Ltd

- No explicit mention of any new fundraising through debt or equity in the provided pages. - Current debt levels are controlled and even reduced: - Gross debt at INR470 crores in FY23 vs. INR527 crores in FY22. - Net debt at INR241 crores in FY23 vs. INR320 crores in FY22. - Debt-to-equity ratio improved from 0.51 to 0.37. - Net debt-to-equity improved from 0.35 to 0.19. - There is no anticipated increase in debt; working capital supported by cash inflows like INR42 crores received from Andhra Pradesh and another INR20 crores expected. - Finance costs expected to remain flat or have marginal increase by INR5-6 crores, staying in the range of INR90-95 crores. - Additional surplus cash flow of around INR60 crores expected to support working capital for next 12 months. - Overall, no plans to increase debt significantly; no mention of equity fundraising either.

- Power Mech is focusing on increasing execution bandwidth to INR900 crores to INR1,500 crores per quarter, supported by enhanced in-house resources. - The company plans to grow its recurring long-term service income model (including O&M and MDO operations) to INR3,000 crores plus by FY26, expecting an 18% CAGR thereafter. - Investment emphasis is on sectors like railway, road, water, material handling, EPC, specialized construction, and metro projects, including expansions and maintenance depots. - Coal mining and steel plant capacity expansions involve substantial upcoming investments (INR50,000 crores by Coal India; INR3 lakh crores by steel industries). - The company indicated plans to add new orders worth INR2,500 crores, leveraging the current execution cycle. - Andhra Pradesh Medical Tech Park project completion led to INR42 crores release, improving cash flow to support further growth. - Strategic partnerships and sector diversification are ongoing to capitalize on government and private investment inflows.

- Targeting order inflow of close to INR11,000 crores for FY 2025, up from INR10,000 crores in FY 2024. - Incremental international market orders expected to increase due to a strengthened team and large scope. - Continued ordering in FGD (Flue Gas Desulfurization) projects through FY 2025, with orders spanning 2.5 years. - Material handling, railway, and metro projects seen as large opportunity areas. - Execution run-rate set between INR900 crores to INR1,500 crores per quarter, with demonstrated capability of INR1,200 crores in FY23 Q4. - Expansion of recurring long-term service model income, including Operation & Maintenance (O&M) and Mining Development Operation (MDO) from FY26, targeting INR3,000 crores plus with 18% CAGR growth from FY26 onward. - Overall business growth expected to be robust over FY24-FY26 driven by improved order book and pipeline projects.

- FY '24 revenue visibility around INR5,500 crores with an execution rate of 37%-40%+ of order book expected to improve quarterly. - Order inflow target for FY '25 set at close to INR11,000 crores, with a focus on increasing international market share and continued FGD ordering. - Incremental orders of INR1,000 crores+ targeted in material handling, railway, and metro segments. - MDO business expected to ramp up from INR180-200 crores in FY '25 to INR650-700 crores per annum over 3-4 years, contributing to recurring income. - EBITDA margin improved over last four quarters; FY '24 expected to see margin improvement due to favorable project mix. - Targeting around 13% EBITDA margin over next two years. - Long-term goal to build recurring service income of INR3,000 crores+ by FY '26 with 18% CAGR growth thereafter, supporting margin and cash flow improvements.

- Order backlog as of March 31, 2023, stands at over INR 23,000 crores. - FY '24 target for new orders is INR 10,000 crores, including spillover orders (~INR 1,200 crores), L1 projects (~INR 1,400 crores), and orders already added in Q1 FY '24 (~INR 720 crores). - International market share expected to grow in FY '25 due to a strengthened team. - Incremental order target for FY '25 is around INR 11,000 crores, with a focus on FGD, material handling, railway, and metro projects. - MDO (Mine Development Operation) orders expected to ramp up from INR 40 crores in Q4 FY '24 to INR 650-700 crores per annum in 3-4 years. - The order book includes significant projects like FGD retrofits, water projects (UP), metro (BMRCL Bangalore), railway projects, and overseas projects like Maitree Bangladesh.