Thermax Ltd reported a fall of 28.93% in top line sales revenues for the Sep-20 quarter at Rs1,141.20cr. While the sales did dip sharply in the Jun-20 quarter due to factory activity getting disrupted across the board, the business has bounced back sharply in Sep-20. However, the sales still need to recover another 50% to get back to pre-COVID levels.
Net profits for the Sep-20 quarter were higher by 21.56% at Rs31.24cr due to better cost management despite lower absorption of fixed costs. The company consciously went on a cost control drive to maintain margins. As a result, Net profit margins or NPM expanded marginally to 2.74% in the Sep-20 quarter from 1.60% in the Sep-19 quarter.
Financial highlights for Sep-20 compared yoy and sequentially
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Thermax |
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Rs in Crore |
Sep-20 |
Sep-19 |
YOY |
Jun-20 |
QOQ |
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Revenues |
1,141.20 |
1,605.85 |
-28.93% |
664.94 |
71.62% |
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Net Profits |
31.24 |
25.70 |
21.56% |
15.27 |
104.58% |
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Diluted EPS (Rs) |
2.78 |
2.29 |
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-1.36 |
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Net Margins |
2.74% |
1.60% |
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2.30% |
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