Thermax shares soar 5% on healthy quarterly earnings

The company’s order book also remained healthy at Rs 2,567 crore by the end of the June quarter.

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Shares of Thermax surged nearly 5 percent in early trade on August 2, buoyed by the company’s healthy financial performance in the April-June quarter.

The company topline rose nearly 17 percent year-on-year to Rs 1,933 crore as against Rs 1,654.5 crore clocked in the base period. The jump in topline was backed by strong order wins.

However, the net profit for the quarter still remained flat on year at Rs 58.9 crore due to an exceptional item related to litigation of Rs 51 crore. Excluding that, the company posted a rise in its bottomline.

The company’s order book also remained healthy at Rs 2,567 crore, with trends of enquiry inflows being positive across the waste to energy segments. “Enquiry inflow from food, chemical and distillery verticals remains strong, there are also signs of improvement in the cement segment,” the company highlighted in an exchange filing.

At 09.27 am, shares of Thermax were trading 3.1 percent higher at Rs 2,593.60 on the National Stock Exchange.

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Moreover, easing input costs also aided an improvement in the company’s operating profit margin to 6.8 percent in April-June from 5.8 percent in the corresponding quarter of the preceding fiscal.

Going ahead, the management expects strong growth in the steel and distillery segments due to a significant increase in government capital expenditures (capex) on infrastructure and a focus on ethanol blending. “Government policies and capex outlays to support green technologies
will spur the clean energy portfolio of Thermax,” the management said.

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