The Thermax Group has bagged an export contract of USD 43 million from a cement company in the UAE for design, engineering, supply & construction of captive power plant. The contract has to be commissioned in 18 months
Throwing more light on the above contract and the business outlook MS Unnikrishnan, MD, Thermax said he expects better order intake for the entire year – the first quarter was good and expect second quarter to be better than last year’s Q2.
Have seen a surge in finalisation of contracts globally and domestically, there have been lot of finalization of contracts post goods and services tax (GST) implementation but cannot confirm of a turnaround yet.
Thermax. D Ltd. is an Indian energy and environment engineering company based in India and Britain. It manufactures, boilers, vapour absorption machines, offers water and waste solutions and installs captive power projects.
So far the order intake has been more on the international side than domestic, said Unnikrishanan. In India, the order ticket size has been small so far, he added.
Traction in orders in India have been seen in food industry, beverages, automobile and auto ancillary, some pharma companies, light engineering – so more from spaces that are consumption oriented.He is hopeful of doing a better in terms of topline for FY18 than FY17, so better profits and although margins are under pressure, they would focus on stabilising them through better cost management.