Thermax advances 20% on recovery in order inflows in December quarter

Sectors such as steel, cement, chemical, pharma and food processing are likely to continue witnessing demand in the coming quarters, the company said

Shares of Thermax advanced 20 per cent to Rs 1,218.50 in intra-day trade on the BSE on Thursday after the company said that order inflows witnessed a broad based recovery in sectors ranging from cement, steel, food & beverages during the October-December quarter (Q3FY21). The stock hit a 52-week high, surpassing its previous high of Rs 1,075, touched on February 5, 2020.

In Q3FY21, Thermax reported flat consolidated revenues at Rs 1,411 crore. Ebitda earnings before interest, taxes, depreciation, and amortisation) came in at Rs 147.6 crore, up 30.4 per cent year on year (YoY) aided by cost control