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Prabhudas Lilladher Report
Thermax Ltd. reported a health quarterly performance led by execution pickup across verticals and recovery in industrial activity.
Revenue across energy/environment/chemical segments grew by 11.8%/51.6%/24.0% YoY.
Despite steep increase in raw material prices, gross margins came in healthy at 48%, led by change in revenue mix.
Further order inflows continued its momentum with the company securing projects worth ~Rs 15 billion in Q4 FY21, owing to huge traction seen in energy segment.
Order book also stands comfortable at Rs 52 billion (1.1 times trailing twelve months revenues) providing healthy revenue visibility.
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