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Thermax: Other income fillip

Nov 17, 2003

Thermax India has reported a subdued performance for 1HFY04. The topline of the company declined by around 6% YoY. However, due to around 100% increase in the other income, the bottomline increased by 129% during the quarter. Operating margins for the first half improved by around 30 basis points, where as the net profit margins for the company improved by around 540 basis points YoY.

(Rs m) 2QFY03 2QFY04 Change 1HFY03 1HFY04 Change
Net Sales 1430 1465 2.5% 2444 2290 -6.3%
Other Income 49 133 173.3% 110 220 99.8%
Expenditure 1336 1374 2.9% 2334 2180 -6.6%
Operating profit 94 91 -3.4% 109 110 0.9%
Operating margin (%) 6.6% 6.2%   4.5% 4.8%  
Interest 2 1 -20.0% 3 2 -35.3%
Depreciation 23 20 -12.3% 52 42 -18.1%
Profit before tax 119 203 70.8% 165 286 74.0%
Extraordinary income/(expenses) -15 -29 100.0% -29 -29 0.0%
Tax 38 34 -10.7% 43 46 6.2%
Net profit 66 140 111.7% 92 211 129.1%
Net profit margin (%) 4.6% 9.5%   3.8% 9.2%  
No. of shares (m) 23.8 23.8   23.8 23.8  
Earning per share (Rs)* 11.1 23.4   7.7 17.7  
P/E ratio (x) 28.9 13.6   41.4 18.1  
*annualised            

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Sep 21, 2020 (Close)

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