Rs 2296 crore order book: Energy transmission company entered into share purchase agreement with Infinite Uptime Inc, USA
The stock is up by 22 per cent from its 52-week low of Rs 2,949.45 per share and gave multibagger returns of 400 per cent in 5 years.
Thermax Ltd. has announced the execution of a Share Purchase Agreement with Infinite Uptime Inc., USA, leading to the divestment of its stake in Covacsis Technologies Private Limited. Consequently, Covacsis will no longer be considered an associate company of Thermax. While Thermax does not consolidate Covacsis's turnover, revenue, or income, it does consolidate its share of profit/loss. For the financial year 2023-24, Covacsis reported a loss of Rs 1.79 crore, of which Thermax accounted for Rs 30 lakh in its consolidated financial statements. The agreement for this sale was finalized on April 03, 2025, with the anticipated completion of the sale/disposal on April 04, 2025, for a consideration of approximately Rs 10 crore.
About the Company
Thermax Limited (NSE: THERMAX) is a leading conglomerate in the energy and environment space and a trusted partner in energy transition. Thermax's extensive portfolio includes clean air, clean energy, clean water and chemical solutions. Backed by its longstanding industry partnerships across multiple sectors, Thermax has cultivated strong expertise in audit, consulting, execution, and maintenance coupled with digital solutions, ensuring a unified energy and environment management experience. Leveraging its distinctive engineering capabilities, Thermax converts costs to profits while protecting the environment – a win-win for the industry and society at large. Thermax operates 14 manufacturing facilities across India, Europe, and Southeast Asia and has 43 Indian and international subsidiaries.
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The company has a market cap of over Rs 40,000 crore and as of June 30, 2024, the order book stands at Rs 2,296 crore. The stock is up by 22 per cent from its 52-week low of Rs 2,949.45 per share and gave multibagger returns of 400 per cent in 5 years. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.