Monitoring Agency Report for the quarter ended March 31, 2026
POWERMECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Power Mech Projects received its QIP monitoring report from CARE Ratings for Q4FY26. The company raised Rs. 350 crore via QIP in October 2023 for three purposes: Rs. 240 crore for Tasra coal washery, Rs. 20 crore for loan repayment (fully used), and Rs. 83.40 crore for general corporate purposes (fully used). Of the Rs. 240 crore washery fund, Rs. 183.26 crore has been utilized, leaving Rs. 56.74 crore parked in fixed deposits. The washery project has faced delays due to slow government approvals (now received by June 2025), pushing full utilization from FY26 to Q2FY27. No deviations exceeding 10% from planned spending were observed.
The project delay is operational rather than financial—funds remain intact and are earning ~7% in fixed deposits. However, investors should note the extended timeline for the Tasra washery to become operational, which affects expected returns from this key capital expenditure.