Thermax posts sturdy growth

Thermax posted a revenue of Rs 4,883 crore during the last fiscal,a sizeable improvement of Rs 3,185 crore for 2010-11. The company’s annual profit before tax stood at Rs 573 crore,up from last year’s Rs 392 crore and the export income during the financial year,including deemed exports,increased 62 percent o Rs. 1066 crore.

The consolidated revenues of the group stood at Rs 5,337 crore compared to Rs 3,370 crore the previous year. The profit after tax on a consolidated basis for the year was Rs. 382 crore while as for the previous year it was Rs 144 crore after charging Rs 174 crore for settlement of business dispute. Consolidated earning before extraordinary item per Rs. 2 share was Rs. 32.03,compared to Rs. 21.75 in 2009-10. The board recommended a dividend of 450 percent for 2010-11. “During the fiscal,Thermax Babcock and Wilcox Energy Solutions Private Limited,the joint venture company formed for manufacturing supercritical boilers,commenced work on its plant facility in Shirwal,Satara,Mahrashtra. Planned at an investment of Rs 825 crore,the facility expected to be completed by September 2012,will be India’s third manufacturing facility for supercritical boilers,” said a company statement. Among the important decisions that drove the growth of the company were the ac quisition of the European boiler manufacturer,Danstoker A/S and its German subsidiary,Omnical Kessel.