Thermax slumps after poor Q1 results

Thermax tumbled 6.43% to Rs 888.05 at 13:13 IST on BSE after net profit fell 17.7% to Rs 41.40 crore on 2.7% decline in operating revenue to Rs 839.40 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 22 July 2014.

Meanwhile, the S&P BSE Sensex was up 266.21 points or 1.04% at 25,981.38.

On BSE, so far 67,000 shares were traded in the counter as against average daily volume of 18,366 shares in the past one quarter.

The stock hit a high of Rs 965.65 and a low of Rs 885.20 so far during the day. The stock had hit a 52-week low of Rs 526 on 5 September 2013. The stock had hit a record high of Rs 989.70 on 2 July 2014.

The stock had underperformed the market over the past one month till 21 July 2014, advancing 1.63% compared with Sensex's 2.43% rise. The scrip had, however, outperformed the market over the past one quarter, jumping 26.57% as against Sensex's 12.96% rise.

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

Thermax's order balance as on 30 June 2014 stood at Rs 5206 crore, down 5.9% from Rs 5530 crore as on 30 June 2013. During the quarter, the company booked orders worth Rs 662 crore, significantly lower than the corresponding figure last year of Rs 2123 crore, which included a big order of Rs 1350 crore from a petrochemical company, Thermax said in a statement.

On consolidated basis, Thermax had on order balance of Rs 6296 crore as on 30 June 2014, compared to Rs 6322 crore as on 30 June 2013.

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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