Thermax Q1 PAT seen down 49% at Rs 56 cr: ICICI Securities

ICICI Securities has come out with its first quarter (April-June) earnings estimates for the Capital Goods sector. The brokerage house expects Thermax to report a 49.1 percent degrowth quarter-on-quarter (degrowth of 8.4 percent year-on-year) in net profit at Rs 56.5 crore.Sales are expected to decrease by 31.6 percent Q-o-Q (down 11.7 percent Y-o-Y) to Rs 884.2 crore, according to ICICI Securities.Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 43.0 percent Q-o-Q (down 26.0 percent Y-o-Y) to Rs 67.3 crore.ICICI Securities's report on ThermaxWe estimate revenues to decline by 13 percent Y-o-Y to Rs 8.6bn on the back of 15 percent drop in standalone order book at the end of Q4FY16.EBITDA margin to be down 148bps Y-o-Y to 7.6 percent.PAT to be at Rs 565mn, down by 8 percent Y-o-Y.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.