Thermax Ltd Q2FY21 consolidated net profit jumps to Rs. 31.24 crore

THERMAX LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.1163.97 crores during the period ended September 30, 2020 as compared to Rs.685.86 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.31.24 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.(15.27) crores for the period ended June 30, 2020.

The company has reported EPS of Rs.2.78 for the period ended September 30, 2020 as compared to Rs.(1.36) for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 1163.97 crs	₹ 685.86 crs	69.71%
Net Profit	₹ 31.24 crs	₹ (15.27) crs	304.58%
EPS	₹ 2.78	₹ (1.36)	304.41%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.1163.97 crores during the period ended September 30, 2020 as compared to Rs.1627.84 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.31.24 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.25.70 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.2.78 for the period ended September 30, 2020 as compared to Rs.2.29 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 1163.97 crs	₹ 1627.84 crs	-28.5%
Net Profit	₹ 31.24 crs	₹ 25.70 crs	21.56%
EPS	₹ 2.78	₹ 2.29	21.4%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.1849.83 crores during the 6 months period ended September 30, 2020 as compared to Rs.3041.85 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.15.97 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.88.46 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.1.42 for the 6 months period ended September 30, 2020 as compared to Rs.7.86 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 1849.83 crs	₹ 3041.85 crs	-39.19%
Net Profit	₹ 15.97 crs	₹ 88.46 crs	-81.95%
EPS	₹ 1.42	₹7.86	-81.93%

Exceptional items impacted the results on account of a Voluntary Retirement Scheme, impairment of certain assets ofBoilerworks Properties ApS (Denmark) and provision for closure of German subsidiary claims, totaling to Rs. 24.65 crore.

As on September 30, 2020, Thermax Group had an order balance of Rs. 5,190 crore (Rs. 5,334 crore), down 3%. Order booking for the quarter was 35% lower at Rs. 1,114 crore (Rs. 1,723 crore). The group's performance improved over Ql due to partial resumption in industrial activities post COVID induced lockdown. However, muted capacity expansion in majority sectors continued to impact the company's revenue and order book.

In November, Thermax Group concluded a major order to set up a captive Combined Heat and Power (CHP) plant on an EPC basis for Assam Bio Refinery Private Limited (ABRPL), a public private joint venture company. ARR PT, will develop India's first biorefinery to produce cellulosic ethanol from bamboo biomass.

Order balance on September 30, 2020, stood at Rs. 3,543 crore (Rs. 3,208 crore), up 10%. Order booking for the quarter, Rs. 626 crore (Rs. 1,303 crore) was 52% lower.

M.S. Unnikrishnan retired as the MD & CEO of Thermax Group on August 31, 2020, and Ashish Bhandari took over as the new MD & CEO, effective September 1, 2020.

Shares of THERMAX LTD. was last trading in BSE at Rs.756.5 as compared to the previous close of Rs. 755.45. The total number of shares traded during the day was 2398 in over 507 trades.

The stock hit an intraday high of Rs. 773 and intraday low of 748.95. The net turnover during the day was Rs. 1823136.

Source : Equity Bulls

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