Thermax Ltd share Price

Thermax Ltd (Thermax) offers integrated solutions in the areas of energy and environment – heating, cooling, power, water & waste management, air pollution control and chemicals.
 It operates in three key segments energy (~70.7% of FY22 revenue), environment segment (~20.6%) and chemicals segment (~8.7%)
 Focus to increase product & services share (~50% in FY22) vs. projects

Thermax reported decent Q4FY22 results.
 Consolidated revenue at ₹ 1991.9 crore, up 26.5% YoY, owing to better execution
 EBITDA came in at ₹ 135.2 crore, down 3.2% YoY, impacted by higher commodity prices and freight cost
 Adjusted PAT came in at ₹ 102.6 crore, down 4.4% YoY
 Order inflows for Q4FY22 was robust at ₹ 3396 crore, up ~127% YoY

Heavy Electrical Equipment company Thermax announced Q1FY24 results:

• Consolidated Q1FY24:
  • Operating revenue of Rs 1,933 crore in Q1FY24, 17% higher as compared to Rs 1,654 crore in Q1FY23.
  • Profit after tax (PAT) is Rs 60 crore (Rs 59 crore), an increase of 2% over Q1FY23. The results were adversely impacted due to an exceptional item of provision related to ongoing litigation of Rs 51 crore.
  • The profit before tax (PBT) and the exceptional item is Rs 142 crore (Rs 81 crore), up 75%. As of June 30, 2023, the order balance for Q1FY24 was Rs 10,505 crore (Rs 9,554 crore), up by 10% from Q1FY23.
  • The order booking for Q1FY24 was 11% higher at Rs 2,567 crore (Rs 2,310 crore).
• Standalone Q1FY24:
  • Operating revenue of Rs 1,161 crore during Q1FY24, demonstrating a growth of 23% compared to Rs 947 crore in Q1FY23.
  • Profit after tax for Q1FY24 stood at Rs 44 crore (Rs 24 crore), up 83%. 
  • The order booking for Q1FY24 was lower by 5% at Rs 1,627 crore (Rs 1,707 crore) as compared to Q1FY23. Order balance on June 30, 2023, stood at Rs 6,746 crore (Rs 6,981 crore), down 3%.
• During Q1FY24, Thermax concluded a major order of Rs 271.5 crore from India's biggest oil refinery in the private sector.
• The company also commissioned a state-of-the-art wind-solar hybrid captive plant with a capacity of 45.8 MW in Gujarat.

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