Thermax revenues cross the billion dollar mark

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Thermax revenues cross the billion dollar mark
Thermax Limited, a leader in energy and environment solutions posted its highest ever revenue of Rs. 4883.23 crore (previous year Rs.3185.47 crore) for fiscal 2010-11 to join the ranks of billion dollar companies. Its annual profit before tax stood at Rs. 573 crore, up from last year"s Rs. 392 crore.

While the net profit after tax and eextraordinary items stood at Rs. 382.42 crore for FY11 as against Rs. 141.44 crore in the corresponding last fiscal. Export income during the financial year, including deemed exports, increased 62 % to Rs. 1066 crore (Rs. 656 crore).

Thermax had a Q4 revenue of Rs. 1771.33 crore (Rs. 1219.26 crore) with a net profit (Before Extraordinary Item) of Rs. 127 crore (Rs. 99 crore).

The order backlog, on consolidated basis, as on March 31, 2011, was Rs. 6446 crore against Rs. 5966 crore last year.

The consolidated revenues of the Group stood at Rs. 5337 crore compared to Rs. 3370 crore, the previous year. Profit after tax on a consolidated basis for the year was Rs. 382 crore (previous year Rs. 144 crore after charging Rs. 174 crore for settlement of business dispute). Consolidated earnings (Before Extraordinary Item) per Rs. 2/- share were Rs. 32.03, compared to Rs. 21.75 in 2009-10.

The Board recommended a dividend of 450% for 2010-11. The year marked the acquisition of the European boiler manufacturer, Danstoker A/S and its German subsidiary, Omnical Kessel. The acquisition, a strategic fit to Thermax"s Heating business, is a decisive step towards realizing the company"s agenda of growth in global markets by expanding its green portfolio.

Regarding the segment, the energy segment posted a revenue of Rs. 1,429 crore for the quarter ended March 2011 as against Rs. 907.51 crore in the corresponding quarter previous fiscal. While, environment segment contributed Rs. 382.63 crore as against Rs. 347.82 crore.

While the profit before Tax and Interest for the energy segment stood at Rs. 149.36 crore as against Rs. 117.64 and the environment segment reported Rs. 49.93 crore as against Rs. 51.04 crore.

In its Power business, the Company has bagged an order for a combined cycle 72 MW captive power plant from a petrochemical company. The Boiler & Heater Group executed several biomass and waste heat based steam and power generation projects in India, Thailand, Malaysia and other SE Asian countries.

Read more about: results, thermax, bse
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