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On Friday’s trading session, the shares of a leading provider of energy and environment solutions surged by 4.6 percent to Rs. 5,531.75, after the company secured an order from Jindal Energy Botswana Pty Ltd, valued at Rs. 513 crores. 

At 12:19 p.m., the shares of Thermax Limited were trading in the green at Rs. 5,480.4, up by 3.6 percent, compared to its previous closing price of Rs. 5,287.1, with a market capitalisation of Rs. 64,861 crore. 

What’s the news: 

As per 5th July regulatory filings with the stock exchanges, Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a wholly-owned subsidiary of Thermax, secured an order worth Rs. 513 crore from Jindal Energy Botswana Pty Ltd. 

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The order received by a leading industrial conglomerate is to set up a 600 MW greenfield energy project in Botswana, Southern Africa. 

TBWES will supply two 550 TPH circulating fluidized bed combustion (CFBC) boilers over a period of 23 months. This order will support the development of the first phase of the customer’s 300 MW power station. 

TBWES will be responsible for the entire scope of the project, including designing, engineering, manufacturing, testing, supply, supervision of erection & commissioning, and performance testing. 

The power generated from this project will be sold to Botswana’s national utility power company to meet the growing power demands of the country. 

About the company’s subsidiary: 

TBWES provides equipment and solutions for generating steam for process and power through the combustion of various solid, liquid and gaseous fuels, as well as through heat recovery from turbine/engine exhaust and (waste) heat recovery from industrial processes. 

TBWES also offers heaters for various applications in the chemical, petrochemical and refinery segments, while its services arm offers renovation and modernisation solutions for old boilers and heaters. 

Financials: 

In Q4 FY23-24, the company generated Rs. 2,763.7 crore in operating revenue, a 19.6 percent increase from the Rs. 2,310.8 crore recorded in Q4

FY22-23. The net profit also grew by 20 percent reaching Rs. 187.6 crore, up from Rs. 156.2 crore in the same period of the previous fiscal year. 

The company’s consolidated order book also saw a healthy increase, rising by 2.4 percent to Rs. 2,309 crore in Q4 FY23-24 compared to Rs. 2,254 crore in the corresponding quarter of FY22-23. Moreover, the order balance grew by 3.7 percent YoY, from Rs. 9,752 crore to Rs. 10,111 crore. 

Stock Performance: 

The stock has delivered nearly 141.2 percent of multibagger returns in one year, and around 70 percent of positive returns in the last six months. So far in 2024, the shares of Thermax Limited have given positive returns of about 76.2 percent. 

About the company: 

Thermax Limited is a leading conglomerate in the energy and environment space and its portfolio includes clean air, clean energy, clean water and chemical solutions. 

Thermax operates 14 manufacturing facilities across India, Europe, and Southeast Asia and has 39 Indian and international subsidiaries. 

Written by Shivani Singh 

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