India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Equity Bottom-Up

<p>In April last week, <a href="https://www.smartkarma.com/entities/4578" target="_blank" data-smartkarma-citation="entities:4578:1">Thermax Ltd (TMX IN)</a> won a large export order. The order size was approximately US$ 157mn to supply 4 utility boilers, 8 heat recovery steam generators, and 2 flue gas steam generators for a refinery and petrochemical project in Nigeria. The order is on EPC (Engineering, Procurement and Construction) basis and was a repeat order. This was a large order for Thermax:</p><ol class="ember-tether-target ember-tether-enabled ember-tether-element-attached-top ember-tether-element-attached-left ember-tether-target-attached-top ember-tether-target-attached-right">
<li>This order was approximately 25% of full year revenues.</li>
<li>This order is more than 20% of company’s order book.</li>
</ol>…

In April last week, Thermax Ltd (TMX IN) won a large export order. The order size was approximately US$ 157mn to supply 4 utility boilers, 8 heat recovery steam generators, and 2 flue gas steam generators for a refinery and petrochemical project in Nigeria. The order is on EPC (Engineering, Procurement and Construction) basis and was a repeat order. This was a large order for Thermax:
This order was approximately 25% of full year revenues.
This order is more than 20% of company’s order book.
…

Thermax: More Export Orders Is Good News, but the Risk Also Increases Proportionately