Thermax arm wins order worth ₹1,600 crore for 800 MW ultra-supercritical thermal power plant

Thermax Ltd. on Saturday, March 28, reported that its wholly-owned subsidiary has secured a boiler package supply order worth around ₹1,600 crore from a leading thermal power projects company in central India for a 1×800 MW ultra-supercritical thermal power plant.The scope of work for the wholly-owned subsidiary Thermax Babcock & Wilcox Energy Solutions Ltd. includes manufacturing, supply, supervision of installation and commissioning and performance testing of the boiler package.

The execution will be aligned with project milestones and delivery schedules as defined in the contract, the company said.
“This order marks a significant breakthrough for Thermax and reinforces our proven capabilities in large scale energy solutions,” th company’s MD and CEO Ashish Bhandari said.Thermax reported a net profit of ₹205 crore in the third quarter, up 80% from the previous year. Its revenue increased 4.2% to ₹2,634 crore, while its EBITDA rose 34.5% to ₹254.3 crore. Its EBITDA margin expanded to 9.7% from 7.5% in the year-ago period.

Thermax shares ended the previous session 2.3% lower at ₹3,173.8 apiece. The stock has declined 13.1% in the past year.

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