Thermax up over 8.5%

Thermax is having a great day, opening over 2.5% at Rs.1446 and rising on to Rs.1526.95, a surge of 8.5% and not too far from its 52-week high of Rs.1550.

The company posted a great set of earnings for Q4FY21 with consolidated net profit coming in at Rs.107 crore, up over 2.5 times over its profit of Rs.39 crore in Q4FY20. This was on a 19% (YoY) rise in revenue from operations at Rs.1575 crore.

EBITDA for the quarter rose 120% to 140 crore though was down 5% (QoQ). Margin pressure is seen on a sequential basis due to rising input costs

There was a 57% jump in order book at Rs.1497 crore, aided by broad based industrial recovery helped this performance. Plus  the energy segment saw improved order booking at Rs 1,173 crore, up 71%. And like true for all companies, the lower base effect is also at play.

The company said that the order booking across segments have exceeded pre-COVID levels. However, the outlook seems clouded due to the second COVID wave.

The board has recommended a dividend of Rs 7 per equity share of Rs 2 each (350%), for FY21.