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Power Mech Projects Q3 Review: Nirmal Bang Maintains 'Hold' On The Stock, Lowers Target Price — Here's Why

Nirmal Bang continues to remain structurally positive on the business model over the medium to long term, hence maintains 'Buy' rating on the stock.

<div class="paragraphs"><p>Power Mech's revenue grew by 20.8% YoY to Rs 13.4 billion (-6.4% versus estimate).&nbsp; </p><p>(Photo source: Power Mech Projects website)</p></div>
Power Mech's revenue grew by 20.8% YoY to Rs 13.4 billion (-6.4% versus estimate). 

(Photo source: Power Mech Projects website)

Powe Mech’s margin profile is expected to improve gradually as the share of mine developer and operator revenue increases (margin accretive business).
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