On Monday’s trading session, the shares of a leading provider of energy and environment solutions surged by 6.06 percent to Rs. 5,014, after the company secured an order from Jindal Energy Botswana Pty Ltd, valued at Rs. 516 crores.
At 10:50 a.m., the shares of Thermax (NS:THMX) Limited were trading in the green at Rs. 4,951.45, up by 4.74 percent, compared to its previous closing price of Rs. 4,727.25, with a market capitalisation of Rs. 58,913.8 crores.
Is Thermax a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
What’s the news:
As per 14th July regulatory filings with the stock exchanges, Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a wholly-owned subsidiary of Thermax, secured a repeat order valued at Rs. 516 crores from an industrial conglomerate Jindal Energy Botswana Pty Ltd.
The order is for setting up of an additional 300 MW energy project in Botswana, Southern Africa, and is part of the second phase of a 600 MW project, thereby making Thermax the sole partner for the entire project.
Similar to the first order, TBWES will supply two 550 TPH CFBC (circulating fluidised bed combustion) boilers and will undertake complete responsibility for designing engineering, manufacturing, testing, supply, supervision of erection & commissioning, and performance testing.
The project will supply power to the national utility grid, addressing the power needs of the region, and strengthening energy security.
Earlier, on July 5th, Thermax had received a similar order worth Rs. 513 crores from the same entity for the supply of two 550 TPH boilers.
About the company’s subsidiary:
TBWES provides equipment and solutions for generating steam for process and power through the combustion of various solid, liquid and gaseous fuels, as well as through heat recovery from turbine/engine exhaust and (waste) heat recovery from industrial processes.
TBWES also offers heaters for various applications in the chemical, petrochemical and refinery segments, while its services arm offers renovation and modernisation solutions for old boilers and heaters.
Previous News:
On 12th September, Thermax Limited announced a strategic partnership with Ceres Power Limited, a subsidiary of Ceres Power Holdings plc (CWR.L), a leading developer of clean energy technology.
The two companies have entered a non-exclusive, global license agreement for Thermax to manufacture, sell and service stack array modules (SAM) based on Ceres’ advanced solid oxide electrolysis cell (SOEC) technology.
Additionally, Thermax will be responsible for the development, commercialisation, and sales of SAM balance of modules (SBM) and multimegawatt SOEC electrolyser modules.
This collaboration will allow Thermax to apply its extensive expertise in heat integration and waste heat recovery to manufacture a pioneering pressurised SAM. The company will also design, engineer, and develop the SBM, which is crucial for the advancement of multi-MW SOEC electrolyser modules.
Financials:
In Q1 FY25, the company generated Rs. 2,184 crores in operating revenue, a 13 percent increase from the Rs. 1,933 crores recorded in Q1 FY24. The net profit also grew by 81.6 percent reaching Rs. 109 crores, up from Rs. 60 crores, in the same period of the previous fiscal year.
The company’s consolidated order book remains the same at Rs. 2,569 crores in FY25. Meanwhile, the order balance grew marginally by 1.7 percent YoY, from Rs. 10,505 crores to Rs. 10,681 crores, during the same period.
Stock Performance:
The stock has delivered positive returns of nearly 77.6 percent of returns in one year, as well as around 33.7 percent returns in the last six months. So far in 2024, the shares of Thermax Limited have given positive returns of about 60.5 percent.
About the company:
Thermax Limited is a leading conglomerate in the energy and environment space and its portfolio includes boilers and heaters, absorption chillers/heat pumps, power plants, solar equipment, air pollution control equipment/system, water and waste recycle plants, ion exchange resins and performance chemicals and related services.
Written by Shivani Singh
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