Thermax Limited — Important, 13-11-2024: General Updates

**Financial Highlights:**

Thermax reported consolidated operating revenue of Rs. 2,612 crore for Q2 FY 2024-25, a 13% increase YoY. Profit after tax rose 25% to Rs. 198 crore. Results benefitted from a Rs. 66 crore accrual from the Maharashtra government under the Packaged Incentive Scheme (PSI). On a standalone basis, revenue reached Rs. 1,519 crore, up 5%, with a PAT of Rs. 108 crore, reflecting a strong 69% growth.

**Strategic Initiatives and Growth Drivers:**

The company’s order book grew 70% to Rs. 11,593 crore, driven by higher demand and strategic orders, including a significant Rs. 1,029 crore project in Botswana.

**Business Developments:**

Thermax's order intake surged to Rs. 3,353 crore in the quarter, showcasing strong market positioning and operational resilience despite previous exceptional losses.

**Market Position and Competitive Advantage:**

The enhanced order backlog indicates robust demand across its sector, providing a solid foundation for future growth.

**Investor Implications:**

The substantial increase in revenue and profits, along with a significant order book, suggest a promising outlook for investors. The company appears well-positioned to capitalize on emerging opportunities, making it a stock to watch closely.