Energy and environment solutions company Thermax has announced robust financial results for the September quarter. The company reported a 25% year-on-year increase in consolidated net profit, reaching ₹198 crore. Revenue for the quarter rose by 13% to ₹2,612 crore, showcasing steady growth in its operations.
The current quarter’s revenue and profit were favorably impacted by an accrual of ₹66 crore as income towards the incentive receivable under the Maharashtra government’s Packaged Incentive Scheme.
Key Financial Highlights:
- Net Profit: Increased by 25% YoY to ₹198 crore.
- Revenue: Grew by 13% YoY to ₹2,612 crore.
- Order Booking: Rose by 70% to ₹3,353 crore.
- Order Balance: Stood at ₹11,593 crore, up 13% from the previous year.
During the quarter, Thermax Babcock & Wilcox Energy Solutions, a wholly-owned subsidiary of Thermax, secured orders worth ₹1,029 crore. These orders are for setting up energy projects for an industrial conglomerate in Botswana, South Africa, marking a significant international expansion.
The company attributed the higher order booking to substantial orders in the energy segment. Enquiry inflows remained strong from sectors such as steel, chemical, distillery, metals, and food & beverage, with an upward trend observed in the biofuel segment.
Segment Performance:
- Industrial Products: Improved performance due to increased revenue and better margins.
- Industrial Infrastructure: Profitability boosted by incentives received during the quarter.
Thermax’s strong financial performance and growing order book suggest positive momentum for the company. The focus on expanding into international markets and tapping into various industrial sectors positions Thermax as a noteworthy stock for investors to watch.
