Thermax was down 1.38% at Rs 717.05, resuming its recent slide after a day's pause.
The stock rose 1.51% to Rs 727.10 on Tuesday, 7 April 2020. It has fallen 6.91% from its recent closing high of Rs 770.25 on 26 March 2020.Meanwhile, CRISIL on Tuesday (7 April) assigned its 'CRISIL AA+/Stable/CRISIL A1+' ratings on Thermax's total bank facilities worth Rs 3260 crore.
CRISIL has assigned AA+/Stable to Thermax's proposed long term bank loan facility of Rs 310. CRISIL assigned a rating of CRISIL A1+ on the company's proposed short term bank loan facility of Rs 2950 crore.
Thermax is an engineering company involved in energy and environment. Its business portfolio includes products for heating, cooling, water and waste management, and specialty chemicals. The company also designs, builds and commissions large boilers for steam and power generation, turnkey power plants, industrial and municipal wastewater treatment plants, waste heat recovery systems and air pollution control projects.
On a consolidated basis, the company's net profit rose 13.2% to Rs 84.96 crore despite a 1.8% decline in net sales to Rs 1410.05 crore in Q3 December 2019 over Q3 December 2018.
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