Thermax - Q4FY13 Result Preview - Angel Broking

For 4QFY2013, we expect Thermax to report a 3% yoy decline in top-line to Rs. 1,636cr, as weak order inflow since the past few quarters will drag down the company's revenue. The company's EBITDA margin is likely to compress by ~129bp yoy to 9.7%. Falling revenue and margin contraction are expected to result in a yoy fall of 19.3% in the PAT to Rs. 105cr.

We maintain our Neutral rating on the stock.

Source : Equity Bulls

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