The company did not post a very good set of numbers on YoY though sequentially, the performance was much better. The net sales of the company for Q4FY14 stood at Rs.1357 crore, up 35% (QoQ) though it was down 6% on YoY. It ended the quarter with a net profit at Rs.106 crore, up 58% on QoQ though down 8% on YoY. For FY14, the company, as expected did not end on a higher note – net sales was down 8% at Rs.4240 crore and net profit was down 28% at Rs.253 crore.

But the only good news is that the despite the poor economic state, its order book in FY14 improved 11%. The order backlog on a consolidated  basis  as at 31^st March 2014 stood at Rs.6121 crore, up 25%. Export income for the fiscal stood at Rs.1101 crore, up 26%. With the new Govt coming in place, an impetus to infra build and capital goods is expected to benefit companies like Thermax. Hopefully, we will see the company having much better numbers from H2FY15.