Thermax heads north after export order win

Thermax advanced 3.33% to Rs 1,052.25 at 09:24 IST on BSE after the company announced that it has won export contracts from a leading African conglomerate.

The announcement was made after market hours on Friday, 28 April 2017. Domestic stock markets remained closed on Monday, 1 May 2017, for a local holiday.

Meanwhile, the S&P BSE Sensex was up 113.20 points, or 0.38% to 30,031.60.

On the BSE, 1,054 shares were traded in the counter so far, compared with average daily volumes of 16,838 shares in the past one quarter. The stock hit a high of Rs 1,069 and a low of Rs 1,047 so far during the day. The stock hit a 52-week high of Rs 1,070.85 on 25 April 2017. The stock hit a 52-week low of Rs 691 on 26 May 2016.

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

Thermax announced that the company has won export contracts from a leading African conglomerate to supply 4 utility boilers, 8 heat recovery steam generators and 2 flue gas steam generators for its refinery and petrochemical project coming up in Nigeria. The scope of supply covers design, engineering, procurement, manufacturing and testing, and supervision of commissioning of these equipment at the site. The order is valued at approximately $157 million.

Thermax's net profit fell 16.48% to Rs 56.66 crore on 20.89% decline in total income to Rs 834.18 crore in Q3 December 2016 over Q3 December 2015.

Thermax Group provides integrated solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemical.

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