Thermax rises after order win

Thermax gained 1.28% to Rs 2,017.55 after the company won an order of Rs 522 crore for a refinery.

In an exchange filing on Tuesday, Thermax announced that it bagged an order of Rs 522 crore for utility boilers and associated systems for a grass root refinery and petrochemical complex in Rajasthan, India.

The order includes two units of 260 TPH high pressure utility boilers along with allied auxiliaries to be designed and manufactured by Thermax Babcock & Wilcox Energy Solutions (TBWES), a wholly owned subsidiary of Thermax.

Ashish Bhandari, MD & CEO of Thermax said, The new financial year started on a high note with this order, secured through an international competitive bidding process. Award of the contract is a testament to our demonstrated product expertise, compliance with quality standards, manufacturing capabilities and execution of complex turnkey projects.

The scope of supply includes project management, engineering, procurement, manufacturing, construction, and commissioning of the package. The project is slated to be completed within 16 months on a lumpsum turnkey (LSTK) basis.

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.

On a consolidated basis, the company reported 4.6% declined in the net profit to Rs 79.45 crore despite a 14.5% increase in the net sales to Rs 1614.73 crore in Q3 FY22 over Q3 FY21.

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