Thermax Ltd, a leading energy and environment solutions provider, posted consolidated revenue of ₹5,731crore, a 4% decline compared to the previous year, even for a profit after tax being ₹212 crore, also the consolidated earnings per ₹2/- share were ₹18.87 compared to ₹28.90 in 2018-19.

On a standalone basis, from continuing operations, it posted an operating revenue of ₹3,215 crore, a 9% decline compared to the previous year, with profit of ₹161 crore, same as the previous year, especially after considering ₹15 crore of an exceptional item of expenditure on account of impairment loss on the company’s investments in JVs and subsidiaries. Also, the company had paid interim dividend of ₹7 per share in March 2020.

Hugely impacted in profits and the revenue, as well as disrupted business activities, credits to the imposed lockdown by the government from March end, owing to the Covid-19 pandemic. Implementing work from home, all the manufacturing facilities were shut for the period, except the international facilities which were operational in a scaled down pace. Chemical facilities (essential services) resumed production in April, followed by the reopening of all the other facilities by the end of May 2020 in compliance to the guidelines stated by the Government.

As a successor to MS Unnikrishnan, MD & CEO, Ashish Bhandari joined the Thermax Group on April 7,2020 as Joint Managing Director.

For more information: www.thermaxglobal.com