Thermax rises up 6%
Thermax rose 6% to Rs.2120 and continues to trade in the green at Rs.2116 levels on the back of a 5x rise in volumes. Its 52-week high is at Rs.2678.50.
The stock price reacted positively to its Q3FY23 earnings, wherein consolidated revenue rose 27% (YoY) at Rs.2049 crore on which net profit showed a rise of 56% at Rs.126 crore.
EBITDA was up 42% at Rs.161 crore while margins jumped up from 7% to 7.86%.
The company said that its bottomline was driven by good performance in all three segments - Energy, Environment and Chemical. Q3FY22 margins were affected by higher commodity and freight costs, which have since then stabilised.
As on 31 December 2022, Thermax Group had an order balance of Rs 9,859 crore, up 33% YoY. Order booking for the quarter was 10% lower at Rs 2,204 crore. The order book last year was higher due to an order worth Rs 830 crore for flue gas desulphurisation (FGD) systems.