Thermax rallied 3.40% to Rs 1,751 after the firm won an order of Rs 830 crore from an Indian power private sector company to set up flue gas desulphurisation (FGD) systems for their three units of 660 MW capacity each in Uttar Pradesh.
The FGD systems will be installed at their plant to cut down SOx emissions and comply with the air quality standards set for fossil fuel-based power plants. The scope of supply includes design, engineering, manufacturing, civil work, construction, and commissioning of the FGD systems. The project is slated to be completed in 36 months (3 years).
Thermax’s consolidated net profit surged 181.4% to Rs 87.92 crore in Q2 FY22 from Rs 31.24 crore in Q2 FY21. Net sales increased by 28.8% to Rs 1,469.32 crore in the second quarter of FY 2021-22 from Rs 1,141.20 crore in the corresponding quarter last year.
Thermax is an energy and environment solutions provider. Its business portfolio includes products for heating, cooling, water and waste management, and Sspecialty chemicals. The company also designs, builds, and commissions large boilers for steam and power generation, turnkey power plants, industrial and municipal wastewater treatment plants, waste heat recovery systems, and air pollution control projects.