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China's facility to commence operation by July end:Thermax
Thermax has declared its consolidated results for the quarter ended June 2008 (Q1). The company's consolidated net profit was at Rs 58.4 crore versus 55.6 crore.
Thermax has declared its consolidated results for the quarter ended June 2008 (Q1). The company's consolidated net profit was at Rs 58.4 crore versus 55.6 crore.
Key takeaways from Thermax concall:
Consolidated net profit for the quarter for the Thermax Group was Rs 58.4 crore versus Rs 55.6 crore.
Consolidated total income increased to Rs 783 crore versus Rs 723.9 crore.
The net profit for the Group has been charged with Rs 5.5 crore pre-operative expenses for China.
Order balance for the Group was Rs 2803 crore versus Rs.3057 crore.
Order balance at quarter end aggregated Rs 2649 crore out of which Rs 1966 crore is domestic, compared to Rs 2435 crore at the beginning of the financial year.
The company recently bagged a order, valued at about Rs 820 crore,for four utility boilers from a major refinery. The 4 X 750 THP boilers will be used in the refinery's captive cogeneration plant to generate 390 MW of power and the balance energy produced will be used for process heating. This is the largest single order the company has ever received.
The company's manufacturing facility in China has started trial production and will commence operations by the end of July 2008. The first phase of the boiler plant at Savli has been completed and commercial production has begun.
The cash balance as on June 30, 2008 is Rs 450 crore approx.
