Thermax -First Cut
RAJESH DESAI
Dear Sir/Madam,
Thermax Ltd, announced its Q4FY12 and FY12 results on 11th May, 2012.
Quarterly Performance:
The Net Sales for the Q4FY12 arrived at INR1661.27 crore, which increased sharply by 31.54% on QoQ basis, but decreased by 4.83% on YoY basis. The EBITDA was up by 36.84% on QoQ basi,s but marginally down by 0.98% on YoY basis. The EBITDA Margin for the Q4FY12 was 11.15% ,up by 43bps on both YoY basis and QoQ basis. The company posted a net profit of INR129.81 crore, which was up by 35.94% on QoQ basis and 2.62% on YoY basis.
Annual Performance:
The Net Sales for FY12 arrived at INR5243.64 crore, which increased by 9.51% on YoY basis. The EBITDA came higher by 9.12% to INR185.31 crore for FY12. The EBITDA Margin was down by mere 4bps on YoY basis. The company posted net profit of INR406.86 crore, which increased sharply by 6.39% as compared to FY11.
Owing to the current economic slowdown of the country, especially in the power sector, the order backlog as on March, 2012 has declined to INR4828 crore as compared to INR6446 crore last year.
The Board has recommended a dividend of 350% for the FY2011-12.
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
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CA. Rajesh Desai