Thermax gains 3% on order win worth Rs 279 crore

Shares of Thermax gained 3.4 percent intraday Friday on the back of order win worth Rs 279 crore.

Thermax Group has received an order worth Rs 279 crore from a leading public sector fertiliser company to set up captive cogeneration plant at Trombay.

The project is for a GTG (Gas Turbine Generator) – cum – HRSG (Heat Recovery Steam Generator) based cogen plant of 50MW capacity on an EPC basis.

M.S. Unnikrishnan, MD & CEO, Thermax said, “Owing to the government’s thrust on making India self-sufficient, the fertiliser sector has seen a tremendous growth and so has the demand for power.”

“The need for reliability of power supply coupled with energy-efficient technologies makes cogeneration a preferred choice for customers where we have secured multiple orders recently,” he added.

The scope of supply includes design, engineering, manufacturing, construction and commissioning of the cogeneration plant.

The project is to be completed in 24 months.

A meeting of the board of directors of the company has been scheduled on May 18, 2018 to consider and approve the unaudited financial results for the quarter ended March 31, 2018 along with related segment-wise financial results.

At 10:12 hrs Thermax was quoting at Rs 1,150, up Rs 19.50, or 1.72 percent on the BSE.

Posted by Rakesh Patil

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