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Yes Securities Report
Thermax Ltd.'s reported a lower-than-expected Q3 FY24 revenue and profit after tax as Industrial Infra segment stood weak both on execution and profitability fronts.
Other segments reported revenue growth in line with expectations with margin expansion seen across Industrial Products, Green Solutions and Chemicals.
The margin performance for industrial infrastructure segment continues to remain weak and volatile as the company saw an impact of Rs 100 million on account of a large legacy sulphur recovery project.
Order Inflow (plus 14% YoY) continues to be driven by base orders with larger orders atleast a few quarters away.
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