Energy and environment solutions company Thermax reported a 25% year-on-year rise in consolidated net profit to Rs 198 crore and a 13% increase in revenue for the September quarter to Rs 2,612 crore. The current quarter’s revenue and profit were favourably impacted by an accrual of Rs 66 crore as income towards the incentive receivable under the Maharashtra government’s Packaged Incentive Scheme.
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The order booking for the quarter rose by 70% to Rs 3,353 crore and the order balance for the quarter was Rs 11,593 crore, up 13% from a year ago. During the quarter, Thermax Babcock & Wilcox Energy Solutions, a wholly owned subsidiary of Thermax, received orders worth Rs 1,029 crore for setting up energy projects from an industrial conglomerate in Botswana, South Africa.
The company said order booking was higher due to large orders in the energy segment. Enquiry inflow from steel, chemical, distillery, metal, and F&B remained strong, and there was an upward trend in enquiry inflow from the biofuel segment.
The industrial products segment performance improved due to increased revenue and better margins. The industrial infrastructure segment profitability was boosted by the incentives during the quarter.
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The company plans to build a CO2-to-methanol pilot plant in partnership with IIT, Delhi, along with support from Department of Science and Technology, Government of India. The plant marks a pioneering effort in carbon reduction and conversion technologies. Thermax also laid the foundation stone of a new chemical facility in Indonesia to make water treatment solutions such as boiler water chemicals, fireside chemicals, reverse osmosis chemicals, and cooling water chemicals.
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