Page 2 - Thermax

Thermax bags order worth Rs 830 crore to set up FGD systems

Thermax on Wednesday said it has bagged a Rs 830 crore order to set up flue gas desulphurisation systems for a private power company. FGD systems will be installed to cut down SOx emissions and comply with the air quality standards set for fossil fuel based power plants. "Thermax Limited has concluded an order of Rs 830 crore from an Indian power private sector company to set up flue gas desulphurisation (FGD) systems for their three units of 660 MW capacity each in the state of Uttar Pradesh," a company statement said. MD & CEO Ashish Bhandari said, "Our proven technological capabilities in the area of air pollution and gaseous abatement, especially FGD, where we are already executing a few large orders, led to this competitive win." In addition to supporting the customer in meeting statutory compliance related to industrial pollution norms, the project reinforces the company's commitment to the environment, he added. The scope of project includes design, engineering, ...

Thermax gains 4% as subsidiary bags order worth Rs 293 crore

TBWES has concluded a Rs 293 crore order for a boiler package comprising 3 x Oil & Gas fired boilers on EPC basis for a refinery and petrochemical complex in western India

Thermax gains 6% after arm wins Rs 250 crore order in Latin America

Thermax Babcock and Wilcox Energy Solutions has concluded a Rs 250 crore order for a claus package and an oxidiser package in the sulphur recovery unit for a greenfield refinery in Latin America

Thermax rallies 8% on strong Q4 results; stock nears 52-week high

Order book during the quarter jumped 57 per cent year on year at Rs 1,497 crore as against Rs 952 crore, aided by broad based industrial recovery

Thermax March-quarter net jumps nearly three-fold to Rs 107 crore

Energy solutions firm Thermax said its consolidated net profit jumped nearly three-fold to Rs 107.35 crore for the March quarter, mainly on the back of higher revenues.

Thermax advances 20% on recovery in order inflows in December quarter

Sectors such as steel, cement, chemical, pharma and food processing are likely to continue witnessing demand in the coming quarters, the company said

Thermax reports Rs 15.27 crore consolidated loss for June quarter

Thermax Ltd on Wednesday reported a consolidated net loss of Rs 15.27 crore for the quarter ended June 30. It had posted a Rs 62.76 crore net profit during the corresponding quarter of the previous financial year, Thermax Ltd said in a BSE filing. The company during April-June 2020 reported a total income of Rs 685.86 crore. It had posted a total income of Rs 1,414.01 crore in the year-ago quarter. Its total expenses during the June 2020 quarter stood at Rs 708.35 crore. It had stood at Rs 1,323.96 crore a year ago. In a statement, it said Thermax Group Managing Director and Chief Executive Officer M S Unnikrishnan will retire on August 31, 2020, after serving the company for 13 years in the capacity. Ashish Bhandari, who joined as the firm's joint MD on April 7, 2020, will succeed him as the new MD & CEO. "The group's operations and financial results for the quarter were adversely impacted by the lockdown imposed to contain the spread of COVID-19. The operations gradually resume

Limited visibility may hurt ABB, Siemens more than Thermax or Cummins

An analyst at a domestic brokerage said that Siemens is a highly cyclical stock, due to the high correlation between the company's revenue growth and India's gross fixed capital formation

As investment in power projects dries up, Thermax eyes 'captive' biz boost

Lack of investment in power plants in the country is going to compel many new investors to go for captive power plants

Thermax opens new unit at SriCity; to manufacture chillers, heat pumps

The unit will manufacture a wide range of vapour absorption machines including chillers, heat pumps and heaters in its first phase

Thermax up 5% on order win of Rs 327 crore

The stock was up 5% to Rs 1,270, also its 52-week high on the BSE after the company received an order worth of Rs 327 crore for a BTG plant package from a public sector company.

Some green shoots emerging for Thermax

An otherwise subdued street sentiment got a boost after Thermax secured a large export order. The company's first EPC (engineering, procurement and construction) order from the Gulf region worth $43 million (Rs 275 crore) for setting up a turnkey captive power plant for a UAE-based cement firm, saw the stock surge over 7 per cent. Thermax's MD and CEO, M S Unnikrishnan, said, "We intend to expand our footprint in this region where we have been providing solutions". The new order and management comments provide some confidence. However, it may not be enough to significantly lift street sentiment further as the domestic environment is still subdued with capital goods sector under pressure post a soft June quarter performance, which was impacted by goods and service tax (GST) implementation.In the June quarter, Thermax's topline had declined by 10-11 per cent year-on-year, both at standalone and consolidated levels, due to GST implementation (impact estimated at Rs 80 crore) and malware .

Thermax gains 5% on winning export contract worth $43 million

The stock was up 5% to Rs 943 trade after the Thermax Group has won a contract worth USD 43 million (Rs 276 crore approximately) from a leading cement company in the UAE

Don't read too much into Thermax's rally

Even as capital goods stocks are once again finding favour among investors, Thermax remains an exception. If 56 per cent of analysts polled on Bloomberg were 'sellers' on Thermax stock two years ago, the number has risen to 74 per cent today. What's more is that the 33 per cent year-to-date gains is not backed by improvement in fundamentals. Analysts believe that even the acquisition of Barite Investments SP. Z.O.O, Poland (manufacturer of boilers), which pumped up Thermax's stock price by about eight per cent on Thursday, is just more of a sentiment boost, as the acquisition may take time to reflect in the financials. There are three key reasons why analysts aren't positive on Thermax. For one, growth has remained elusive or sporadic. Even in the current fiscal, revenues for nine-months have declined by 20 per cent year-on-year to Rs 2,499 crore, while net profit has shrunk by 11 per cent year-on-year to Rs 161.5 crore. Thermax derives 70 per cent of its total revenues from domestic .

Thermax plans additional investment of Rs 6 crore in First Energy

The company had acquired 33% stake in FE in July, 2015

Thermax capex for FY17 Rs 450-455 cr; Q1 net profit down 26%

The company has earmarked investment of Rs 138 cr in building a chemical factory for the manufacturing of ion exchange resins at Dahej

Thermax Q1 net profit falls 10% to Rs 49 crore

Income from operations during the quarter declined by 18.5% to Rs 1,002.13 crore

Thermax, Alstom T&D India hit 52-week low

Thermax (Rs 704) and Alstom T&D India (Rs 338) hit their respective 52-weeks on the BSE in intra-day trade.