Large order boosts Thermax

The company announced the new order during trading hours today, 5 July 2013.

Meanwhile, the S&P BSE Sensex was up 98.01 points or 0.5% at 19,508.85.

On BSE, 22,576 shares were traded in the counter as against average daily volume of 11,951 shares in the past one quarter.

The stock hit a high of Rs 619.75 and a low of Rs 597.10 so far during the day. The stock had hit a 52-week high of Rs 684 on 22 February 2013. The stock had hit a 52-week low of Rs 463.15 on 27 July 2012.

The stock had outperformed the market over the past one month till 4 July 2013, rising 2.4% compared with the Sensex's 0.69% fall. The scrip had, however, underperformed the market in past one quarter, gaining 3.46% as against Sensex's 4.87% rise.

The mid-cap company has equity capital of Rs 23.83 crore. Face value per share is Rs 2.

Thermax said it has received a prestigious order worth about Rs 1700 crore from a leading petrochemical company for the design, manufacture and commissioning of 9 circulating fluidized bed combustion (CFBC) high pressure boilers of 500 TPH each for two of its plants. This is the single largest order from a client for deployment of CFBC boilers, Thermax said.

M.S. Unnikrishnan, MD and CEO, Thermax said, "This order reflects the customer's confidence in Thermax's extensive experience with CBFC technology across India on a variety of low grade solid fuels, as also trust in our manufacturing and project execution capabilities".

Thermax's net profit fell 11.2% to Rs 115.32 crore on 12.8% decline in net sales to Rs 1448.73 crore in Q4 March 2013 over Q4 March 2012.

Thermax, a leading energy and environment solutions provider, is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals.

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