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Thermax bags Rs 239 cr order for oil & gas fired boilers

Thermax bags Rs 239 cr order for oil & gas fired boilers

The scope of supply includes design, manufacture, installation, erection, commissioning and testing of the 3 x Oil & Gas fired boilers, the company said in a release

Thermax noted that this turnkey project based on EPC "encompasses civil, structural, mechanical, E & I controls work." Thermax noted that this turnkey project based on EPC "encompasses civil, structural, mechanical, E & I controls work."

Thermax Group has announced that its wholly-owned subsidiary Thermax Babcock and Wilcox Energy Solutions (TBWES), concluded a Rs 293 crore order for a boiler package on EPC basis for a refinery and petroleum complex in western India. 

The scope of supply includes design, manufacture, installation, erection, commissioning and testing of the 3 x Oil & Gas fired boilers, the company said in a release. 

Thermax noted that this turnkey project based on EPC "encompasses civil, structural, mechanical, E & I controls work."

Also Read: Thermax share gains 8% on three-fold rise in Q4 net profit

"TBWES has won the order in this competitive bidding project owing to its proven product experience, compliance to quality standards, manufacturing and EPC capabilities," said Ashish Bhandari, MD & CEO, Thermax.

Following the development, shares of Thermax were up 4% at Rs 1,418.55 on the BSE in intra-day trade on Thursday.

The Pune-based energy and environment solutions provider returned to black, posting a consolidated net profit of Rs 42.40 crore for the quarter ended June 30, 2021.

It had posted a Rs 15.27-crore net loss during the corresponding quarter of the previous financial year, Thermax Ltd had said in a BSE filing on August 5.

Also Read: Thermax Q3 results: Net profits dips 2% to Rs 83 crore; total income at Rs 1,438.82 crore

The company's total income April-June 2021 rose to Rs 1,077.75 crore, compared with Rs 685.86 crore in the year-ago period.

Its expenses were at Rs 1.021.49 crore, compared with Rs 708.35 crore a year ago.

In a separate statement, Thermax had said that its order booking for the quarter stood at Rs 1,696 crore compared with Rs 608 crore in the corresponding quarter last year, "which was impacted due to unprecedented shutdown due to the COVID-19 pandemic".