Thermax Ltd.'s orders fell in the April-December period but it expects to match the previous fiscal year's figures by March-end despite a weak business environment.
“There's just a 4 percent decline in comparison to the previous nine-month period.” MS Unnikrishnan, managing director and chief executive officer at Thermax, told BloombergQuint. “I'm hoping to hit the last year's figure at least [by the end of the year].”
The demand in consumer-facing and infrastructure sectors is not up to the mark currently, he said, adding that a turnaround is expected in the post-budget scenario. “Going forward, the enquiry pipeline is positive as Barmer, Panipat and Gujarat refineries are slated to award orders in the market.”
Q3 Results (YoY)
- Revenue down 1.8 percent to Rs 1,410.1 crore.
- Net profit rose 13.3 percent to Rs 85 crore.
- Ebitda rose 5.5 percent to Rs 113.2 crore.
- Operating margin at 8 percent versus 7.5 percent.
- Exceptional loss of Rs 87.5 crore and tax reversal of Rs 97.4 crore in base quarter.
Shares of the infrastructure conglomerate rose 2.6 percent compared to 0.3 percent gain in the Nifty Index.
Watch | Thermax's Unnikrishnan Speaks On Order Outlook For Q4
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