Thermax Q1 net down 25% at Rs 50.25 cr

Order book up by 68% at Rs 2,123 cr from Rs 1,258 cr in same quarter of FY13

Pune based Industrial energy solutions provider Thermax Limited has recorded a drop of 25% in its net profit at Rs 50.25 crore as compare to Rs 67.2 crore, last year due to fall in revenue and other income. It has also witnessed drop of 12% in the total income at Rs 862.8 crore as compared to Rs 983.2 crore last year.

The company’s order book however is up by 68% to stand at Rs 2,123 crore from Rs 1,258 crore in the same quarter of FY’13. The order balance till June 30 was Rs 5,530 crore, a 24% rise from Rs 4,474 crore till end June 2012.

The power related businesses of Thermax are affected by the tough market conditions. The company is aggressively promoting its product businesses in sectors insulated from the slowdown, while focusing on cost optimisation. The company is also striving to grow its select export markets like South East Asia, and West Asia. The company is planning to increase its servicing business from 15% to 20%.
 
During the quarter, it has bagged order worth Rs 1,700 crore from a petrolium company for design, manufacturing and commissioning nine CFBC (circulating fluidised bed combustion) high pressure boilers at two of its plants. The boilers meant for generating steam and power will be commissioned at the customer sites within a time frame of 25 to 29 months.