Thermax Expects A Revival In Demand As Order Booking Jumps In Q2
Thermax CEO MS Unnikrishnan says a revival in consumer demand at the domestic level is around the corner.
Thermax Ltd. expects a revival in domestic consumer demand after its order booking rose in the quarter ended September, Managing Director and Chief Executive Officer MS Unnikrishnan said on Thursday.
“(If) order conclusions have come down in the market, how have we been able to register a 28 percent improvement (year-on-year) in our order intake for the quarter?” Unnikrishnan said in an interview with BloombergQuint. “There was one major order around Rs 450 crore included in this. Even if I take that as a windfall, still it is a better performance than last year same quarter.”
Thermax’s outlook comes at a time when India’s industrial production contracted the most in nearly eight years with weakness seen across most key segments.
“I am a positive person so I look at the positive side. You can’t wish away the difficulties of the market, but even in such circumstances, there are opportunities to perform to your best ability,” Unnikrishnan said, adding that a revival in consumer demand at the domestic level is around the corner.
Thermax Q2 Results 2019-20: Key Highlights (Year-On-Year)
- Revenue up 12.5 percent to Rs 1,606 crore.
- Net profit down 65.5 percent to Rs 25.7 crore.
- Ebitda up 18.3 percent to Rs 130 crore.
- Margin at 8.1 percent vs 7.7 percent.
WATCH | CEO MS Unnikrishnan On Thermax’s Q2 Results 2019-20