Thermax shares rise 5% after its subsidiary wins order worth ₹513 crore, check details

The firm said in an exchange filing that TBWES will supply two 550 TPH circulating fluidised bed combustion (CFBC) boilers over a period of 23 months. This order will support the development of the first phase i.e. the 300 MW power station being established by the customer.

TBWES will undertake the designing, engineering, manufacturing, testing, supply, supervision of erection and commissioning, and performance testing. Thermax said the power generated is intended for sale to the national utility power company to support the growing power requirement of the nation.

TBWES provides equipment and solutions for generating steam for process and power through the combustion of various solid, liquid and gaseous fuels, as well as through heat recovery from turbine/engine exhaust and (waste) heat recovery from industrial processes.

The Thermax subsidiary also offers heaters for various applications in the chemical, petrochemical and refinery segments.

During the fourth quarter of fiscal year 2024, the company's consolidated profit after tax stood at ₹188 crore, registering an increase of 20% over the corresponding quarter of FY23. The company recorded a consolidated operating revenue of ₹2,764 crore in the fourth quarter of FY24, 20% higher as compared to ₹2,311 crore in the corresponding quarter of the previous fiscal year.

The order booking for the quarter was 2% higher at ₹2,309 crore. The order balance for the quarter stood at ₹10,111 crore, up 4% from the corresponding quarter of the previous fiscal year.

The firm's shares have risen over 77% since the beginning of the year, and the stock has gained over 143% in the last year.