Owing to the economic slow down especially in the power sector, the order backlog of Thermax Ltd on a consolidated basis as on March 31, 2012 has declined to Rs 4,828 crore from the previous year’s Rs 6,446 crore, a company release said. The company posted a Q4 net profit of Rs 130 crore on revenues of Rs 1,687 crore.
The annual financial results of the company, revealed that Thermax posted improved results for 2011-12 fiscal with a revenue of Rs 5,304 crore against the previous year’s revenue of Rs 4,852 crore. The company’s annual profit after tax was also higher at Rs 407 crore, up from last year’s Rs 382 crore. Export income including deemed exports, during the financial year, increased to Rs 1,143 crore. The Group’s consolidated revenue stood at Rs 6,091 crore compared to Rs 5,299 crore, the previous year. Profit after tax and minority interest on a consolidated basis for the year was Rs 404 crore against the previous years figure of Rs 382 crore. The consolidated earning per Rs 2 share was Rs 33.86 compared to Rs 32.03 in 2010-11.
In fiscal 2011-12, Thermax acquired the German steam efficiency enhancement products company, Rifox- Hans Richter GmbH.
The acquisition offers a strategic fit for the company’s steam engineering business and will support its business in Europe, South East Asia and the Middle East.
The company’s air pollution control business commissioned its largest project- to-date for a cement plant in Egypt.
The project involved retrofitting the cement plant’s existing emission control systems to meet international safety and quality requirements, within a stringent shut-down period of 45 days.