Thermax secures order of Rs 431 crore

Thermax Limited has bagged an order of Rs 431 crore from a public-private joint venture power company to set up two flue gas desulphurisation (FGD) systems at its thermal power plant in Jharkhand, India. The customer will install two units of FGD systems of 525 MW capacity, each, at its plant to limit SOx emissions in line with revised regulations from the Ministry of Environment, Forest and Climate Change.

The scope of supply includes design, engineering, manufacturing, civil work, construction, and commissioning of the FGD systems. The commissioning of the project is scheduled over 30 months.

As per the management, with this order, Thermax has concluded the year on a high note. Also, considering the two large FGD orders secured by the company in last six months, it is visible that the implementation of industrial pollution norms has gained momentum in India.

As on September 30, 2019, Thermax Group had an order balance of Rs 5,334 crore. Order booking for the quarter ending September 2019, at the consolidated level, was at Rs 1,723 crore, up by 28.2 per cent. The environment segment of the company has bagged an order worth Rs 471 crore in Q2FY20 for FGD systems.

On Tuesday, the stock of Thermax opened at Rs 1,055.40 on the BSE. During the early morning trade, it traded in the levels of Rs 1,041.55 and Rs 1,059.70.