Pune: Thermax Limited has decided to move ahead in cleaner and greener inventions of new technology and step ahead in solar power rather than coal mining industries.
The facility at Sri City for manufacturing absorption chillers is in its final stages of completion and gearing up for commercial production in the near future. Effective from Wednesday, two board members Anu Aga and Dr Raghunath Mashelkar retired as directors.
The increase in revenue is because of higher order carry forward at the start of the financial year 2018-19. Due to investments in a few sectors of the economy, Thermax has witnessed a substantially improved order intake in the domestic market.
Major orders during the quarter include a Rs 279 crore order for a captive cogeneration power plant for a leading public sector fertiliser company and Rs 340 crore order from a leading Indian steel manufacturer for a specially designed boiler, electric turbo generators and ancillary equipment for their production facility in Maharashtra.
For the first quarter of FY 2018-19 at the consolidated level, Thermax posted operating revenue of Rs 1,035 crore, compared to Rs 893 crore in the corresponding quarter, last year. Profit after tax for the quarter was up 4.3 per cent at Rs 49 crore and profit after company’s share of profit or loss in joint ventures stood at Rs 49 crore, up by 22.5
As on June 30, 2018, Thermax Group had an order balance of Rs 6,420 crore i.e an increase of 29.9 per cent.