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Thermax September quarter sales jump over 40% even as higher costs pressure margin

Thermax September quarter sales jump over 40% even as higher costs pressure margin

Thermax September quarter sales jump over 40% even as higher costs pressure margin
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By Vahishta Unwalla   |Vahishta Unwalla Nov 14, 2022 12:23:52 PM IST (Published)

The order book of the company grew 46 percent to Rs 9,485 crore compared to Rs 6,516 crore in the year-ago period.

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Thermax Ltd.  reported a 41 percent growth in its revenue during the September quarter compared to last year led by strength in its core sectors like metal & steel, chemicals, refinery & petchem.


The company's revenue of Rs 2,075.26 crore was higher than the CNBC-TV18 poll of Rs 1,871 crore.

However, the company's EBITDA margin stood at 6.8 percent compared to 7.5% in the year-ago quarter on the back of a 39 percent rise in raw material costs. Other expenses also rose 31 percent from last year. The 6.8 percent figure was also 20 basis points higher than the CNBC-TV18 poll of 6.6%.

Higher costs also impacted the profitability of the company's energy and chemical segments.

The order book of the company grew 46 percent to Rs 9,485 crore compared to Rs 6,516 crore in the year-ago period.

Thermax received orders worth Rs 2,015 crore during the quarter, reporting  a growth of 9%.

A healthy mix of orders from various sectors, good enquiries from the international markets and steel manufacturers revising their capex plans were some of the key positives for Thermax this quarter.
All three of Thermax's segments - Energy, Environmental and Chemical reported a growth in revenue for the quarter. However, only the environmental segment reported a rise in EBIT margin while the other two were under pressure.

Shares of Thermax Ltd are currently trading 2 percent lower at Rs 2,319.

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