Thermax‘s profit has been impacted over some quarters due to losses in subsidiaries. However, since last three to four quarters it has been maintaining the order inflow with the run rate of Rs1,200 crore per quarter.
The biggest positive from the Budget that appears to come for all capital expansion plans or those who have such plans has been that 15 percent investment allowance.
Heavy engineering major Thermax expects its order book to strengthen in early FY14, with much of the business expected to come in from the food processing and oil sectors.
In an interview to CNBC-TV18, MS Unnikrishnan, managing director, Thermax, gives his expectations for the company's performance.
Capital goods maker Thermax is hopeful of its order book improving post FY13 on the back of investment cycle picking up in various sectors from where it gets orders.
MS Unnikrishnan, MD, Thermax, says that the company‘s exposure to the power sector in a good year is 25-27%. He also says that the power sector is not in good shape nor the situation is likely to improve in the near term.
In an interview to CNBC-TV18, MS Unnikrishnan, managing director of Thermax says, at the end of the year, the company should be able to have a double digit profitability margin based on the orders and the way the market is moving.
MS Unnikrishnan, MD, Thermax Ltd stated that the industry was keen on measures to control fiscal deficit and check inflation.
In an interview to CNBC-TV18, MS Unnikrishnan, the managing director of Thermax talks about the latest developments happening in his company and sector.
Speaking to CNBC-TV18, MS Unnikrishnan, managing director of Thermax agrees that the industry is seeing a slowdown in order inflows. In fact, going ahead too, the situation remains grim according to him.
MD of Thermax believes that shrinking margins, increasing competition and commodity costs affect all, but they are ‘better placed than other companies in the capital equipment segment.’
The IIP data stated that the capital goods industry grew only 15.2% in July against 37.7% in the previous month. MS Unnikrishnan, managing director of Thermax told CNBC-TV18 that the situation is very bad since this is a major dive downwards.
Chinese banks have started offering loans on projects at lower rates to finance more than USD 50 billion worth of power equipment for Indian companies. For Indian power firms, this is a big leg-up since local banks are reluctant to lend to these companies.
MS Unnikrishnan, managing director of Thermax, in an interview with CNBC-TV18's Gautam Mukherjee and Latha Venkatesh, gave his view on the IIP output numbers and his divulged future plans for the company.
MS Unnikrishnan, MD, Thermax citing his views on the IIP said, that there is a visible retardation in the finalisation of orders though the executions of orders are continuing.
MS Unnikrishnan, MD of Thermax Ltd, in an interview with CNBC-TV18’s Anuj Singhal and Latha Venkatesh, spoke about the recent happenings in his company and the road ahead.
MS Unnikrishnan, MD, Thermax says, the company will try to retain its margins within double digits.