Thermax soars over 7% post stellar Q4 performance
The company's board has recommended a dividend of Rs 7 per share for 2020-21.
Thermax jumped 7.31% to Rs 1511.05 after the company’s consolidated net profit surged 175% to Rs 107 crore in Q4 FY21 from Rs 39 crore in Q4 FY20.
The group posted consolidated operating revenue of Rs 1,575 crore in the fourth quarter of FY 2020-21 as against Rs 1,323 crore reported in the same period last year, up 19% year-on-year (YoY).
On the segmental front, energy business revenue was at Rs 1,175 crore (up 11.8% YoY), environment business revenue was at Rs 302 crore (up 51.8% YoY) and chemical business revenue was at Rs 119 crore (up 24% YoY) in the fourth quarter.
The quarter witnessed improved profitability owing to higher topline, cost reduction measures taken across the group and better margins in the Energy segment.
The profit after tax in the corresponding quarter last year was impacted due to the outbreak of COVID-19.
The group registered orders in Q4 FY21 of Rs 1,497 crore as compared with Rs 952 crore in Q4 FY20, aided by a broad-based recovery.
Profit before tax in Q4 FY21 stood at Rs 140 crore as against Rs 59 crore in Q4 FY20.
The company reported 2.4% fall in consolidated net profit to Rs 207 crore on a 16.4% drop in revenue to Rs 4,791 crore in the year ended 31 March 2021 over the year ended 31 March 2021.
The company’s board has recommended a dividend of Rs 7 per share for 2020-21.
Thermax is a leading energy and environment solutions provider. Its business portfolio includes products for heating, cooling, water and waste management, and specialty chemicals. The company also designs, builds and commissions large boilers for steam and power generation, turnkey power plants, industrial and municipal wastewater treatment plants, waste heat recovery systems and air pollution control projects.
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