In 2018-19, Thermax Group had a revenue of 5973 crores INR, which has dropped by 4 percent to 5731 crores INR in 2019-20. The profit post-tax was 212 crores INR. The consolidated earnings for 2 INR share dropped from 28.90 INR in 2018-19 to 18.87 INR in 2019-20.
At the consolidated level, the year’s order booking was 5498 crores INR in 2019-20, which was 2.4 percent lesser from 5633 crores INR in 2018-19. The overall decrease in worldwide investment was more hampered by the Covid-19 pandemic at the end of 2019-20, which affected the Group’s fiscal performance. The order balance of Thermax Group was 5238 crores INR, which is a drop of 2.5 percent from 5370 crores INR.
From continuing operations from a stand-alone basis, Thermax had operating revenue of 3215 crores INR, which is 9 percent lesser than 3541 crores INR in 2018-19. The profit after tax was the same for both years, which was 161 crores INR. This profit is after consideration of 15 crores INR (48 crores INR) of an exceptional item of expenditure owing to impairment loss on the investment of the company in subsidiaries and JVs. For 2019-20, the order intake of Thermax Group was 4058 crores INR (3325 crores INR) with an order backlog of 3569 crores INR (2741 crores INR).
For Q4 2019-20, the consolidated operating revenue of Thermax was 1323 crores INR, which was 36.2 percent lesser than the 2074 crores INR in Q4 2018-19. The profit after tax was 39 crores INR as compared with 127 crores INR. At the start of March, the Indian Government enforced lockdown to prevent the spread of Covid-19. This hampered the Thermax business both for the company and the customers, which affected profit and revenue. To safeguard its employees, Thermax closed down all Indian facilities and began work from home. The international facilities continued at a decelerated pace. Because chemical facilities were essential services, they began in April, which was followed by the gradual start of all other facilities in tune with the Government guidelines by May end.
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