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Jun 13, 2017 02:03 PM IST | Source: CNBC-TV18

Thermax eyeing acquisition opportunities in European mkts; aim to improve topline

Confident of seeing an improvement in the topline in FY18, said MS Unnikrishnan, MD & CEO, Thermax.

MS Unnikrishnan, MD & CEO, Thermax in an interview to CNBC-TV18 from the sidelines of Ambit's India Access Conference in London spoke about the demand and business outlook going forward.

He said the demand slowdown seems to be closer to the bottom now. Sectors that are consumption oriented are seeing investments happening and there is some movement visible in areas like commodity and infrastructure. Moreover, Cement and oil & gas space is also attracting attention, he added.

Talking about order book for the company, he said in a quarter they normally receive upwards of Rs 500 crore order from consumption oriented sectors and that is likely to continue unabated. Even in international markets where the company is present are seeing investments happening in this area, he said, adding that the order intake will improve going forward in this segment, for the company.

For FY18, he is confident of seeing an improvement in the topline but said the current quarter could see some pressure due to GST rollout.

On the acquisition front, they would continue to look at opportunities in European markets. The recent acquisition in Poland was to support business foray into Eastern Europe and intention to provide entry into Germany for standard heating products, he said.

Competition in the thermal segment would remain the same but that in manufacturing would be fierce because the projects are limited. However, the company will be able to maintain margins, doing forward, he said.

Thermax provides a range of engineering solutions to the energy and environment sectors. It is headquartered in Pune, India and operate globally through 19 International offices, 12 Sales & Service offices and 11 manufacturing facilities - 7 of which are in India and 4 overseas.

Its portfolio includes products for heating, cooling, water and waste management, and specialty chemicals.

For entire discussion, watch video

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