It's tough times for cap goods till FY14: Thermax

The October IIP numbers have thrown up a dismal growth scene for the capital goods sector at a negative 25% year-on-year. Speaking to CNBC-TV18, MS Unnikrishnan, managing director of Thermax agrees that the industry is seeing a slowdown in order inflows. He says that the current figure is on account of the orders that were finalized almost 12-24 months ago, and since, there have been no large orders for the entire industry. In fact, going ahead too, the situation remains grim according to him.