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Prabhudas Lilladher Report
Thermax Ltd. reported healthy Q2 FY22 performance, as execution momentum continued across energy/environment/chemical and grew 19.4%/101.2%/12.4% YoY.
Healthy ordering momentum in refinery, oil and gas, chemical, food and beverage, pharma, cement etc., resulted in order inflows of Rs 18.6 billion (up 67% YoY).
During the quarter Thermax received its first order to set up bio compressed natural gas plant, based on rice straw as a feedstock.
Management indicated strong demand scenario across the sector, thereby providing healthy order inflows visibility going forward.
Order book stands strong at Rs 65.2 billion (1.2 times trailing twelve months revenue) providing good revenue visibility for next few quarters.
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