Shares of Thermax dropped 7 per cent to Rs 2,280 in Thursday’s intra-day trade, on profit booking, after the company reported 34 per cent lower order booking in January-March quarter (Q4FY23) at Rs 2,254 crore, as against Rs 3,396 crore in Q4FY22.
In the last quarter of the previous year, a significant order of Rs 1,176 crore was booked for a sulphur recovery block, and an order of Rs 546 crore was received for a flue gas desulphurisation (FGD) system, the company said.
Despite of Thursday’s decline, Thermax has outperformed the market as shares surged 17 per cent so far in the calendar year 2023. In comparison, the S&P BSE Sensex was up less than 1 per cent, during the same period.
