Thermax slips after poor Q4 results

Thermax fell 1.75% to Rs 892 at 09:42 IST on BSE after net profit fell 8.2% to Rs 105.91 crore on 6.3% decline in net sales to Rs 1357.45 crore in Q4 March 2014 over Q4 March 2013.

The result was announced after market hours on Tuesday, 27 May 2014.

Meanwhile, the BSE Sensex was up 80.64 points, or 0.33%, to 24,630.15

On BSE, so far 1,041 shares were traded in the counter, compared with an average volume of 21,054 shares in the past one quarter.

The stock hit a high of Rs 900.65 and a low of Rs 888 so far during the day. The stock hit 52-week high of Rs 941 on 26 May 2014. The stock hit a 52-week low of Rs 526 on 5 September 2013.

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

Thermax's net profit fell 27.7% to Rs 252.97 crore on 8.5% decline in net sales to Rs 4239.97 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013). Export income including deemed exports during FY 2014 stood at Rs 1101 crore, accounting for 26% of revenue, the company said in a statement.

Thermax's consolidated net profit fell 23.12% to Rs 246 crore on 7.13% decline in revenue to Rs 5100 crore in FY 2014 over FY 2013.

In a subdued economic environment where investments continue to be stalled, Thermax improved its order booking by 11% to Rs 5394 crore in FY 2014 over FY 2013.

The order backlog on a consolidated basis, as on 31 March 2014 was at Rs 6121 crore, a 25% improvement from last year's Rs 4878 crore.

Thermax's board of directors at its meeting held on 27 May 2014 recommended a dividend of Rs 6 per share for the financial year ended 31 March 2014.

Thermax, the energy and environment major, 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, chemicals and air pollution control. The sustainable solutions Thermax develops for client companies are environment-friendly and enable efficient deployment of energy and water sources.

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