Thermax Limited

At 12:24 PM on Friday, the BSE Capital Goods index was the top loser among sectoral indices down 3.3 per cent, while the BSE Sensex gained 0.84 per cent.

Thermax said quarterly profitability in the Industrial Product segment was impacted by product mix and higher input costs.

According to reports, Thermax plans to divest over 51% stake in its renewable energy subsidiary First Energy, with an estimated enterprise value of ₹3,000 crore.

Going forward, recovery in project execution, margin improvement in the Industrial Infra segment, revival in export demand and sustained order inflows will remain the key monitorables, analysts said.

According to a Reuters report, the Indian government has allowed four Chinese power equipment manufacturers to participate in government tenders for critical power projects.

The board of Thermax has recommended a dividend of ₹14 per share for FY2025-26. Additionally, the board has declared a special dividend of ₹6 to mark the company's 60th anniversary milestone.

BSE Capital Goods index hit a new high of 79,887.59, up nearly 2% in Thursday's intra-day deal. The index has surged 17% in the past two months.

Jyoti CNC, Apar Ind, BHEL, Thermax, Kirloskar Oil Engines, Siemens Energy, ABB, CG Power and Hitachi Energy were up 2 per cent to 5 per cent on the BSE in Monday's intra-day trade.

Thus far in April, the BSE Power index has outperformed the market by soaring 13 per cent compared to a 8.5 per cent rise in the BSE Sensex.

JM Financial has initiated coverage on Thermax with a 'Reduce' rating and a sum-of-the-parts target price of ₹2,700

According to Shrikant Chouhan of Kotak Securities, Thermax strong earnings prospects and JSW Cement capacity expansion plans augur well for these two stocks.

Thermax shares rose 5 per cent after it invested in its wholly owned subsidiary, which will invest in its step-down subsidiary

Thermax was seen testing the super trend line support on the monthly scale for the first time since January 2021, while Timken India after September 2019; for trading guide check key levels here.

Revenue from its industrial products segment rose 5.6 per cent, while that from its division which sets up bio-CNG and power plants, rose 3 per cent

Thermax on Wednesday posted a nearly 25 per cent rise in its consolidated net profit to Rs 198 crore in the September 2024 quarter compared to a year ago, mainly on the back of higher revenues. Its consolidated net profit stood at Rs 159 crore in the quarter ended on September 30, 2023, according to a regulatory filing. Total income rose to Rs 2,671.36 crore in the quarter from Rs 2,368.32 crore in the same quarter of the preceding fiscal. The current quarter's revenue and profit are favourably impacted by an accrual of Rs 66 crore as income towards the incentive receivable under the Packaged Incentive Scheme (PSI), 2007 from the Maharashtra government, the company said in a statement. As of September 30, 2024, the order balance in the reported quarter was Rs 11,593 crore, up 13 per cent from Rs 10,264 crore a year ago on a consolidated basis. The order booking for the quarter jumped 70 per cent to Rs 3,353 crore. During the quarter, Thermax Babcock & Wilcox Energy Solutions Ltd

Thermax, Bhandari said, has a renewed focus on energy transition technologies, particularly hydrogen, carbon capture, and water management

The uptick in Thermax share price came after the company announced that its wholly-owned subsidiary has received a repeat order worth Rs 516 crore.

In the past six months, the BSE Capital Goods index has outperformed the market by surging 31%, as against a 11% rally in the S&P BSE Sensex.

Capital goods companies in India have benefitted from the government's push on infrastructure and clean energy through increased capital expenditure and production-linked incentive schemes

Energy and environmental services major, Thermax Ltd, said on Friday that it is in discussion with several steel companies in the eastern region for a commercial-scale high-ash coal gasification project. This project will be the first of its kind in the eastern region. Thermax is also in dialogue with Coal India on coal gasification technology. CIL has plans to set up a coal-to-SNG (Synthetic Natural Gas) project in the Eastern Coalfields Limited command area. In this domain, Thermax claims to have patented technology. "We are currently in talks with steel companies for a project that will pioneer high-ash coal gasification in the eastern region. Deliberations are going on regarding the funding, which is facing a viability gap of approximately 30-40 per cent of the project cost," Thermax MD and CEO Ashish Bhandari said. Although the government is expected to provide viability gap funding of around 15 per cent, companies will need to address the remaining funding gap, he said. "We