Thermax surges after strong Q2 earnings

Thermax spurted 4.17% to Rs 950 at 12:27 IST on BSE after net profit jumped 185% to Rs 86 crore on 14% growth in operating revenue to Rs 1191 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced yesterday, 4 November 2014, when the stock market was closed on account on Muharram.

Meanwhile, the S&P BSE Sensex was up 30.30 points or 0.11% at 27,890.68.

On BSE, so far 28,000 shares were traded in the counter as against average daily volume of 4,700 shares in the past one quarter.

The stock hit a high of Rs 988 and a low of Rs 944.80 so far during the day. The stock had hit a record high of Rs 989.70 on 2 July 2014. The stock had hit a 52-week low of Rs 609.35 on 12 November 2013.

The stock had underperformed the market over the past one month till 3 November 2014, advancing 1.3% compared with Sensex's 4.86% rise. The scrip had also underperformed the market in past one quarter, jumping 4.92% as against Sensex's 9.34% rise.

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

Thermax's order inflow surged 42% to Rs 1089 crore in Q2 September 2014 over Q2 September 2013. Order booking has been helped by improvement in the demand for its standard products in the domestic market and also project orders from the international market.

As on 30 September 2014, Thermax has an order backlog of Rs 5016 crore against Rs 5308 crore as on 30 September 2013. Compared to last year's Rs 6128 crore, the group order backlog stands at Rs 6067 crore.

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.

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