Shares of Thermax rose 4.6 percent to 5,287.10 per share on the BSE in intraday trade on Friday after the company informed bourses that it had secured a large order worth Rs 513 crore.
Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a wholly owned subsidiary of Thermax, has received an order worth Rs 513 crore from Jindal Energy Botswana to set up a 600 megawatt greenfield power project in Botswana, Southern Africa.
“TBWES will supply two 550 TPH CFBC (circulating fluidized bed combustion) boilers over a period of 23 months. This order will support the development of the first phase, i.e. the 300 MW power plant being set up by the customer,” the company said in a stock exchange filing on Friday.
The energy generated is intended to be sold to the national energy company to maintain the energy supply.
According to the company, this is due to the growing demand for electricity in the country.
Thermax, a major player in industrial machinery, reported a consolidated net profit of Rs 1.88 billion (USD 22.5 million) for the quarter ended March 31, 2023-24, up 20.5 percent from the same quarter in the previous fiscal year.
At 12:43 PM; the company’s shares were trading 2.87 percent higher at Rs 5,439 per share on the BSE. In comparison, the BSE Sensex was down 0.25 percent at 79,849 levels.
Currently, the company’s shares are trading at a price to earnings ratio of 144.02, with an earnings per share of Rs 36.71.
Thermax is present in the energy and environment sectors. The company operates 14 manufacturing facilities in India, Europe and Southeast Asia and has 42 Indian and international subsidiaries.
First print: 05 Jul 2024 | 12:50 PM IST