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ICICI Direct: Thermax’s Execution, Dispatches Impacted By Covid-19 Led Lockdown

Thermax’s Q1 revenue fell 52.2% year-on-year to Rs 665 crore on the back of slower execution amid lockdowns, ICICI Direct says.

A maintenance worker inspects a SolPac D160 parabolic dish in a solar field, comprising of solar concentrating reflectors developed by Thermax. (Photographer: Dhiraj Singh/Bloomberg)
A maintenance worker inspects a SolPac D160 parabolic dish in a solar field, comprising of solar concentrating reflectors developed by Thermax. (Photographer: Dhiraj Singh/Bloomberg)
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