Rs 9,355 crore order book and FIIs increase stake: This multibagger heavy equipment stock bags new order worth Rs 513 crore for 600 MW greenfield energy project!

Shares of the company have gained more than 80 per cent on a YTD basis.

Thermax, through its subsidiary Thermax Babcock & Wilcox Energy Solutions (TBWES), has secured a significant international order worth Rs. 513 crore (USD 61.464 million). Jindal Energy Botswana Pty Ltd. has entrusted TBWES with the design, engineering, manufacturing, and supply of two 550 TPH CFBC boilers for their 600 MW greenfield energy project in Botswana. This 23-month project will support the development of the first 300 MW phase of the power plant.

TBWES will also supervise the erection, pre-commissioning, commissioning, and performance testing of these boilers. The generated power will be sold to the national utility company, contributing to Botswana's growing energy needs. This win strengthens Thermax's position as a global provider of advanced boiler solutions.

Additionally, Thermax aims to become a major player in hybrid renewable energy, setting an ambitious target of deploying 1 GW within the next three years. This will provide industries with diverse clean electricity options, paving the way for a greener future.

Thermax Limited offers solutions to the energy, environment, and chemical sectors. The company’s portfolio includes boilers and heaters, absorption chillers, heat pumps, power plants, solar equipment, air pollution control equipment & systems, water and waste recycling plants, ion exchange resins and performance chemicals, and related services. The stock has delivered multibagger returns of over 250 per cent in the last three years. The company has an order book worth Rs 9,355 crore and FIIs increased their stake in March 2024.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.