The shares of the leading energy solution provider gained up to 5 percent after the company signed licensing agreements with Ceres Power Limited, a UK-based company.
With a market capitalization of Rs 56,421.70 crore, the shares of Thermax Ltd were trading at Rs 4,721.85 per share, increasing around 2 percent as compared to the previous closing price of Rs 4.643.85 apiece.
Reason for Rise:-
According to the company filing, Thermax Ltd has entered into a Collaboration and License Agreement with Ceres Power Limited (“Ceres”), a subsidiary of UK based, Ceres Power Holdings plc for electrolyser manufacturing & system solutions to provide green hydrogen solutions for industrial customers.
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Moreover, this licensing of Ceres SOEC technology will enable Thermax to produce, sell, and service stack array modules (SAM), SAM balance of modules (SBM), and multi-megawatt SOEC electrolyser modules based on Ceres’ innovative solid oxide electrolysis cell (SOEC) technology.
Financial Performance:-
Examining the company’s financial performance, revenue zoomed by 13 percent from Rs 1,933 crore in Q1FY24 to Rs 2,184 crore in Q1FY25, but during the same time frame, net profit magnified by 82 percent from Rs 60 crore to Rs 109 crore.
Revenue Split & footprint:-
When it comes to revenue from the geographic segment, the company’s revenue in India magnified by 15%, from Rs 4,067.07 crore in FY2022–23 to Rs 4,705.81 crore in FY2023–24, while revenue from outside of India zoomed by 2 percent from Rs 1,053.07 crore in FY2022-23 to Rs 1,076.78 crore in FY2023-24.
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Thermax maintains 14 production plants in India, Europe, and Southeast Asia, as well as 39 Indian and foreign subsidiaries.
Company Profile:-
Thermax Limited offers integrated solutions in heating, cooling, power generation, water treatment and recycling, air pollution control, and chemicals. It operates in four segments: Industrial Products, Industrial Infra, Green Solutions, and Chemical.
Written by:- Abhishek Singh
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