Thermax Q3 Review - Outlooks Remains Hazy: Prabhudas Lilladher  
Thermax Ltd. (image: Company website)

Thermax Q3 Review - Outlooks Remains Hazy: Prabhudas Lilladher  

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Prabhudas Lilladher Report

Thermax Ltd. reported decent quarterly performance led by execution ramp up and cost control measures.

Revenue came flat YoY led by growth in environment segment (up, 28% YoY), while energy/chemical segment de-grew by 5% YoY each.

Margins expanded by 256 basis points led by lower raw cost and better cost rationalization measures.

One-time exceptional item (approximately Rs 279 million) impacted profitability, primarily due to impairment of goodwill in Thermax Netherlands B.V. during Q3, energy segment reported 62% YoY growth in order inflows led by order win in bio refinery (~Rs 3.2 billion).

Click on the attachment to read the full report:

Prabbudas Lilladher Thermax Q3FY21 Result Update.pdf


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