Power Mech Projects Ltd (PMPL) for Q1FY19 on a consolidated basis reported good numbers. Revenue grew ~29% YoY to Rs462 crore, on the back of better order execution. Revenue from erection segment (39% of Q1FY19 revenue) grew 26%, operation & maintenance (O&M -28%) grew 6%, civil (31%) grew 60% and electrical works (2%) grew 220%. EBITDA grew 32% to Rs61 crore, with margins expanding 34bps to 13.2%, due to better project mix. Net profit grew 34% to Rs24 crore. As of 30 Jun’18 debt stood at Rs310 crore (vs Rs274 crore as of 31 Mar’18).