Thermax Ltd reports Q3FY21 consolidated PAT of Rs. 83.26 crore

THERMAX LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.1438.82 crores during the period ended December 31, 2020 as compared to Rs.1163.97 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.83.26 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.31.24 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.7.39 for the period ended December 31, 2020 as compared to Rs.2.78 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 1438.82 crs	₹ 1163.97 crs	23.61%
Net Profit	₹ 83.26 crs	₹ 31.24 crs	166.52%
EPS	₹ 7.39	₹ 2.78	165.83%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.1438.82 crores during the period ended December 31, 2020 as compared to Rs.1435.80 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.83.26 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.84.96 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.7.39 for the period ended December 31, 2020 as compared to Rs.7.54 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 1438.82 crs	₹ 1435.80 crs	0.21%
Net Profit	₹ 83.26 crs	₹ 84.96 crs	-2%
EPS	₹ 7.39	₹ 7.54	-1.99%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.3288.65 crores during the 9 months period ended December 31, 2020 as compared to Rs.4477.65 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.99.23 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.173.42 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.8.81 for the 9 months period ended December 31, 2020 as compared to Rs.15.40 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 3288.65 crs	₹ 4477.65 crs	-26.55%
Net Profit	₹ 99.23 crs	₹ 173.42 crs	-42.78%
EPS	₹ 8.81	₹15.40	-42.79%

As on December 31, 2020, Thermax Group had an order balance of Rs. 5,208 crore (Rs. 5,439 crore ), down 4%. Order booking for the quarter was 2.6% lower at Rs. 1,565 crore (Rs. 1,606 crore). This includes a major EPC order from a biorefinery in Assam for setting up captive a Combined Heat and Power plant mentioned in last quarter's press release. Thermax's order book witnessed broad based recovery with momentum in sectors ranging from food & beverage to cement and steel.

On a standalone basis, Thermax posted an operating revenue of Rs. 903 crore during the quarter, 6% higher as compared to Rs. 850 crore in the previous year. The company registered a loss of Rs. 3 crore, lower than last year's profit of Rs. 58 crore. Exceptional items impacted the results on account of impairment of goodwill in Thermax Netherlands B.V., impairment of our investment in Indonesia via Thermax Engineering Singapore Pte Ltd. and reversal of the provision for closure of a German subs/diary, totalling Rs. 90 crore. Excluding exceptional items, the PBT improved from Rs. 77 crores to Rs. 105 crore, up 38%.

Order balance on December 31, 2020, stood at Rs. 3,627 crore (Rs. 3,682 crore), down 1.5%. Order booking for the quarter, Rs. 1,020 crore (Rs. 1,316 crore) was 22.5% lower.

Shares of THERMAX LTD. was last trading in BSE at Rs.1010.3 as compared to the previous close of Rs. 1030.3. The total number of shares traded during the day was 5270 in over 596 trades.

The stock hit an intraday high of Rs. 1044.1 and intraday low of 1010.3. The net turnover during the day was Rs. 5413701.

Source : Equity Bulls

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