Rs 10,681 crore order book: Energy transmission company bags new order worth Rs 516 crore from Jindal Energy Botswana Pty Ltd

The stock is up by 89 per cent from its 52-week low of Rs 2,500 per share and gave multibagger returns of 250 per cent in 3 years.

Thermax Ltd has secured a significant international contract valued at Rs 516 crore. The order, awarded by Jindal Energy Botswana Pty Ltd, entails the design, engineering, manufacturing, testing, supply, supervision, and performance testing of two 550 TPH Circulating Fluidized Bed Combustion (CFBC) boilers. These boilers will be integral to a 600 MW greenfield energy project in Botswana. The project is expected to be completed within 25.5 months, and the boilers will supply power to the national utility grid, addressing the region's energy needs.

This repeat order from Jindal Energy Botswana Pty Ltd reinforces Thermax's position as a leading provider of energy solutions in the international market. The company's expertise in CFBC technology and its ability to deliver comprehensive solutions have been instrumental in securing this prestigious contract. By supplying the boilers and overseeing the entire project, Thermax is contributing to Botswana's energy security and economic development.

Earlier, Thermax partnered with Ceres Power to manufacture, sell, and service solid oxide electrolysis cell (SOEC) stack array modules (SAM) in India. The collaboration aims to accelerate the deployment of SOEC technology, enabling cost-effective green hydrogen production. Thermax will leverage its experience in heat integration and waste heat recovery to design and develop pressurised SAM and SAM balance of module (SBM). The partnership is expected to revolutionise the hydrogen production landscape by delivering systems that are up to 25 per cent more efficient than incumbent technologies and effectively utilize steam from industrial process heat/waste heat recovery. This makes it an optimal solution for decarbonizing hard-to-abate industries. As a step towards commercialization, Thermax plans to establish a manufacturing facility, develop the supply chain and localize critical components. This collaboration positions Thermax as a leading provider of large-scale SOEC systems for commercial applications.  

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.

The company has a market cap of Rs 56,328 crore and as of June 30, 2024, the order book stands at Rs 10,681 crore. The stock is up by 89 per cent from its 52-week low of Rs 2,500 per share and gave multibagger returns of 250 per cent in 3 years. Investors should keep an eye on this stock.

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

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