Shares of this leading manufacturer of Capital goods equipment gained nearly 1% in the early trading hours after announcing their equity infusion of Rs. 25.9 crores into its subsidiary.
Price movement:
With a market capitalization of Rs. 59,328 Crores, the share price of Thermax Limited reached its intraday high of Rs. 5,140, up nearly 1% from the previous close of Rs. 5,097 apiece.
Reason for the price movements:
Thermax Limited, the holding company of Thermax Engineering Singapore Pte. Ltd. (TESPL) has announced an equity infusion of Rs. 25.9 Crores into its subsidiary. The move is aimed at enabling further investment in Thermax (Thailand) Limited (TTL), a wholly owned subsidiary of TESPL.
Thermax Thailand Limited focuses on providing marketing and sales support, advisory services on the business operations, and technical services in the energy and environmental businesses.
Financial Performance:
Thermax Limited, with a market cap of ₹59,328 crores as of today. It has seen a CAGR of 25% in sales during the last 3 years, CAGR of 46% in net profit in the last 3 years and a Return on equity of 12%.
Management Outlook:
Thermax expects strong growth in sectors like steel, cement, and distilleries due to increased government spending on infrastructure. Supportive policies for green technologies, especially biofuels, will enhance its clean energy portfolio and help the company seize new opportunities.
Shareholding pattern:
The promoters currently hold 61.98% of the company’s stake as of the recent quarter Q1 FY 2025, the remaining is held by Foreign Institutional Investors, Domestic Institutional Investors and Public. The Foreign Institutional Investors have increased their ownership stake from 12.01% to 15.15% in the last 6 months.
About the company:
Thermax Ltd is an engineering company headquartered in Pune, Maharashtra. It provides sustainable solutions for energy and the environment. It offers a portfolio of 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, waste heat recovery systems, industrial and municipal wastewater treatment plants, and air pollution control projects.
The group consists of seven wholly-owned domestic subsidiaries and 21 wholly-owned overseas subsidiaries. With a presence in 88 countries and 14 sites, the business serves clients through a comprehensive sales and service network that includes Asia, Southeast Asia, the Middle East, Africa, Europe, and the Americas, as well as manufacturing facilities in Poland, India, Denmark, China, Germany, and Indonesia.
Written by Arvind JV
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