Thermax bags order for two FGD systems worth Rs 545 crore

Thermax said that it has concluded an order of Rs 545.6 crore from an Indian power public sector company to set up flue gas desulphurisation (FGD) systems.

The FGD systems are for the two units of the power company of 500 MW capacity each, located in the state of Uttar Pradesh, India.

The FGD systems will be installed at their plant to cut down SOx emissions and comply with the air quality standards set for the power plants.

The scope of supply includes design, engineering, manufacturing, civil work, construction and commissioning of the FGD systems. The project is slated to be completed in 30 months.

Ashish Bhandari, MD & CEO, Thermax, said: Our proven technological capabilities in the area of air pollution and gaseous abatement, especially FGD, where we are already executing a few large orders, led to this competitive win.

Thermax is an energy and environment solutions provider. Its business portfolio includes products for heating, cooling, water and waste management, and specialty chemicals. The company also designs, builds and commissions large boilers for steam and power generation, turnkey power plants, industrial and municipal wastewater treatment plants, waste heat recovery systems and air pollution control projects.

The company's consolidated net profit surged 183% to Rs 88 crore in Q2 FY22 from Rs 31 crore in Q2 FY21. Consolidated operating revenue increased by 29% to Rs 1,469 crore in the second quarter of FY 2021-22 from Rs 1,141 crore in the corresponding quarter last year.

The scrip fell 0.37% to end at Rs 1805.15 on the BSE yesterday.

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