Thermax Expects Steady International Orders Despite Slowdown Fears
Thermax Ltd. expects the current order flow in international markets to sustain despite fears of global slowdown and geopolitical tensions, according to its Managing Director and Chief Executive Officer MS Unnikrishnan.
“Business is looking positive in the international markets despite the worries in the macro-economic environment,” Unnikrishnan said in an interview with BloombergQuint. “Our order intake for the current quarter from the international business has gone up by 65 percent to Rs 1,480 crore.”
The engineering company’s operating performance in the quarter was hit by losses in its Denmark-based subsidiary Danstoker, he said.
Key Highlights: (YoY)
- Revenue rose 28.6 percent to Rs 1,436.6 crore.
- Net profit increased 28 percent to Rs 75 crore.
- Ebitda rose 12.2 percent to Rs 107.3 crore.
- Operating margin at 7.5 percent versus 8.6 percent.