Thermax Limited has informed the Exchange about Investor Presentation
THERMAX LIMITED THERMAX HOUSE, 14 MUMBAI - PUNE ROAD, WAKDEWADI, PUNE 411 003, INDIA D TEL.: +91 20 25542122, 25542263 D FAX: +91 20 25541226 Website : www.thermaxglobal.com D IT PAN - AAACT 391 OD Customer Care: 18002090115 (India Toll Free)
February 4, 2022
To The Secretary BSE Limited P J Towers, Dalal Street Mumbai: 400 001
Company Scrip Code: 500411
Corporate Finance
THERMAX
National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Koria Complex, Bandra (E) Mumbai - 400 051
Company Scrip Code: THERMAX EQ
Sub: Regulation 30 of SEBI (Listing Obligations & Disclosure Regu.irements)
Regulations, 2015- Investor Presentation
Dear Sir,
In terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions if any, please find enclosed the Investor Presentation for the quarter ended December 31, 2021.
You are requested to take note of the same.
Thanking you,
Yours faithfully, For THERMAX LIMITED
Janhavi Khele Company Secretary Membership No: A20601
Encl: As above
REGD. OFFICE : D 13, MIDC INDUSffilAL AREA, R. D. AGA ROAD, CHINCHWAD, PUNE 411 019. INDIA CORPORATE IDENTITY NUMBER: L29299PN1980PLC022787
Thermax Limited – Investor Presentation Q3 FY21-22
Energy | Environment | Chemical | Services
Our Vision To be a globally respected high- performance organisation offering sustainable solutions in energy and the environment
Disclaimer
This presentation includes forward-looking information and statements including statements concerning the outlook for our businesses. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including global economic conditions, and the economic conditions of the regions and industries that are major markets for Thermax. These expectations, estimates and projections are generally identifiable by statements containing words such as “expects”, “believes”, “estimates”, “targets”, “plans”, “outlook” or similar expressions.
There are numerous risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this presentation and which could affect our ability to achieve any or all of our stated targets. The important factors that could cause such differences include, among others:
• business risks associated with the volatile global economic environment and political conditions • costs associated with compliance activities • market acceptance of new products and services • changes in governmental regulations and currency exchange rates, and • such other factors as may be discussed from time to time in Thermax Ltd.'s filings with the Securities
and Exchange Board of India (SEBI), including its Annual Report
Energy | Environment | Chemical | Services
www.thermaxglobal.com
Thermax at a Glance
3,699 Employees Globally*
Installations in 88 Countries
Sales and Service presence in 30 Countries
$651 Million revenue
14 Manufacturing Locations (10 in India, 4 abroad)
Note: employees excluding workmen
Energy | Environment | Chemical | Services
www.thermaxglobal.com
Business Highlights - Energy
Cooling the Pharmaceutical Process in Ireland
Meeting Process Heating Needs of a Food Major
Supplying Power and Steam to a Sugar Plant
Fueling Steam for Petrochemical Major
Arial (Body) 14pt
Commissioned a chiller at a pharma major in Ireland for process cooling application.
Thermic fluid heater installed at a food major in central India for packaged food processing.
TBWES has commissioned 200 TPH bi-drum travelling grate boiler firing green fuel for sugar plant in Thailand meeting steam and power needs through co-generation power plant.
TBWES concluded an EPC order for two lignin fired boiler packages generating 47 TPH steam for refinery processes with one of the leading refineries in India.
Energy | Environment | Chemical | Services
www.thermaxglobal.com
Business Highlights - Environment
Helping a Pharma and Food Major to Manage Particulate Emissions
Preparing Fuel for a Steel Major
Treating Effluent Water for a Pharma Major
Treating Water for an Oil & Gas Major
Commissioned common wall electrostatic precipitator (ESP) for a reputed Food and Pharma company.
Commissioned coal preparation plant (CPP) of capacity 80 TPH for a steel major in India.
Thermax has set up an ETP recycling plant and a WTP for a major pharma company in Pune, India.
Commissioned a raw water treatment plant for an oil & gas major in India.
Energy | Environment | Chemical | Services
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Business Highlights - Environment
Removing SOx Emissions from the Exhaust of a Power Plant
Installing Bag Filters for a Cement Company
Recovering Heat for a Metal Company
Cleaning the Exhaust for a Pharma Company
Bagged Rs. 830 crore order to set up flue gas desulphurisation systems from an Indian power private sector company.
Thermax upgraded existing bag filter to RABH with 6 units of modules, addition to existing 10 units for a cement major in India.
Waste heat recovery boiler (WHRB) ESP for a leading mining and metals company.
14 TPH boiler scrubber for pharma company.
Energy | Environment | Chemical | Services
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Business Highlights - Chemical
Digitalising Chemical Solutions by use of IoT
Decolorising Sugar
Growth in Construction Chemicals
Helping Steel Major to Reduce Freshwater Consumption
Industrial water treatment Image
13% growth compared to last quarter in automated IoT based solutions for cooling water applications from heavy as well as medium industries.
Substantial orders for ion exchange resins for applications such as sugar decolourisation, heavy metal removal and MEG processing.
Note: MEG - mono ethylene glycol
83% Y-O-Y growth seen in construction chemicals business.
Repeat order for water treatment chemicals from a steel major.
Energy | Environment | Chemical
| Services
www.thermaxglobal.com
Digital Solutions Thermax Edge™
Thermax Edge™, our customer portal is a customised platform, bringing the breadth of Thermax’s services at your fingertips! Focusing on Transparency, Convenience and Guidance, it provides a one-stop solution for all your business needs.
Glimpse of a Thermax Edge™ Portal
Thermax Edge™ Launch video
Features of Thermax Edge™
•
•
Asset and Spare History
Spare and Service Recommendations
• Order Spares and Services
•
•
•
Connect with Asset Specific Service Engineer
Enquiry, Order, Complaint Tracking
Access Case Studies and Knowledge Articles
Benefits of Thermax Edge™
Convenience
Transparency
•
•
•
A customer can request a spare or service at the click of a button.
Reach out to our dedicated representative for your request and get your job done in minimal turnaround time.
Track your orders and enquiries in real time.
Guidance
•
•
•
Thermax’s customer portal allows you to see all the installed assets in one place.
Helps customers track asset history and life of spares.
Control and monitor your operations with ease.
•
•
The customer portal helps you stay informed about your areas of interest and make good business decisions.
Thermax Edge provides you with smart recommendations on the life of your spares and expert guidance on preventive maintenance during a shutdown.
Energy | Environment | Chemical | Services
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Customer Accolades
Thermax honoured for ‘Zero Accident Achievement’ from Virchow Petrochemical Pvt. Ltd.
Large Paper mill in Gujarat appreciated our team’s effort for the installation of 30 TPH SDFB boiler
Customer accolades Thermax for products & service excellence for supplying an evaporative condensor
Customer appreciates for Digital IoT Service “ROSS” for UPTIME of the vapour absorption machines supplied
Thermax honoured for ‘Project Management Capabilities and Suprevision Services’ from Birla Cements
Energy | Environment | Chemical
| Services
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Thermax Q3 FY2021-22 Results
Order book
Order balance
2,462 cr.
7,389 cr.
Operating revenue 1,615 cr.
PBT*
108 cr.
PAT
79 cr.
Cash and Investments
2,308 cr.
57 %
42 %
14 %
(-23) %
(-5) %
19 %
Current quarters margin were impacted by higher commodity and freight cost
* : % Growth with respect to Q3 FY 2020-21
* : Profit Before Tax and exceptional item
Energy | Environment | Chemical
| Services
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Q3 - Order Book Status
Others 13%
Pharmaceutical 2%
F&B/Packaging 4%
Metals and Steel 6%
Petrcochemical 7%
Chemical 7%
• Record order booking of Rs. 2,462 crore on the
backdrop of project finalisations
• Bagged Rs. 830 crore order to set up flue gas
desulphurisation systems for their three units of 660 MW capacity from an Indian power private sector company
• Received orders from Cement and Sugar
industries to meet their needs for sustainable energy
Power 40%
Sugar/Distillery 9%
Cement 11%
Energy | Environment | Chemical | Services
www.thermaxglobal.com
Consolidated Performance Summary by Segment
Segment
Energy
Environment
Chemical
Total
Order Booking
Order Balance
Q3, 2022
YOY% Change YTD Dec 2021 YOY% Change
1,163
1,135
163
2,462
(10) %
558 %
60 %
57 %
4,921
2,344
123
7,389
37 %
53 %
55 %
42 %
Energy | Environment | Chemical | Services
www.thermaxglobal.com
Note: Values are in Rs. crore
Consolidated Performance Indicators
Q2, 2022 Performance Indicator
Q3, 2022 Q3, 2021
1,856 Order Booking 6,516 Order Balance 1,469 Revenue
Profit Before Tax and Exceptional (PBT)
114 7.8% PBT before Exceptional % Exceptional Item
- 114 7.8% PBT %
Profit Before Tax (PBT)
88
6%
Profit After Tax (PAT)
PAT %
2,462
7,389
1,615
108
6.7%
- 108
1,565
5,208
1,411
141
10.0%
- 27.88 113
6.7%
8.0%
79
83
4.9%
5.9%
Energy | Environment | Chemical | Services
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Note: Values are in Rs. crore and ratios are in %
Business Performance Summary
For Q3, FY2021-22
For Q3, FY2020-21
YTD Dec 21
YTD Dec 20
Segments
Revenue PBIT PBIT %
Revenue
PBIT PBIT % Revenue PBIT PBIT % Revenue PBIT PBIT %
Energy
1,163
Environment
Chemical
339
155
73
11
6.3%
3.2%
17
11.0%
1,066
253
111
97
18
29
9.1%
7.1%
26.1%
2,983
185
6.2 %
2,452
109
4.4 %
832
407
20
59
2.4 %
492
14.4 %
310
18
81
3.6 %
26.2 %
PBIT - Segment PBIT before exceptional & Unallocated Overheads
Energy | Environment | Chemical | Services
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Business Segment Wise - Quarterly Trend
Energy
Environment
s ’ e r o r C
. s R n
i
l
e u a V
1,600 1,400 1,200 1,000 800 600 400 200 ‐
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
FY1920
FY2021
FY2122
OB
RR
815
980
799
686
1,121
1,341
1,121
1,051
PBIT
64
83
65
32
412
500
‐26
848
886
39
1,291
1,173
1,256
1,432
1,163
1,066
1,175
97
109
763
28
1,057
1,163
84
73
Chemical
120 100 80 60 40 20 ‐ ‐20 ‐40
T B P
s ’ e r o r C
. s R n
i
l
e u a V
1,200
1,000
800
600
400
200
‐
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
25 20 15 10 5 ‐ ‐5 ‐10 ‐15
T B P
OB
RR
PBIT
286
197
4
FY1920
633
179
8
691
197
10
FY2021
167
199
16
104
84
‐10
155
155
10
172
253
18
204
302
20
300
180
3
FY2122
285
312
6
1,135
339
11
180 160 140 120 100 80 60 40 20 ‐
s ’ e r o r C
. s R n
i
l
e u a V
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
FY1920
OB
RR
PBIT
116
117
29
109
110
20
116
117
29
100
96
18
92
84
17
FY2021
111
115
35
102
111
29
120
119
22
139
123
22
FY2122
139
129
20
163
155
17
40 35 30 25 20 15 10 5 ‐
T B P
OB
Order Booking
RR
Revenue Recognition
PBIT
Segment PBIT before exceptional & Unallocated Overheads
Energy | Environment | Chemical | Services
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Domestic – Export Business Performance
Order Book
Revenue
Revenue
Order Balance
Chemical
Environment
Energy
Chemical
Environment
Energy
Chemical
Environment
Energy
FY 2020-21
YTD December FY 2021-22
Q3, FY 2021-22
172 252
555 80
2,693
1,030
Chemical
Environment
Energy
237 205
1,649
72
2,764 1,087
Chemical
Environment
Energy
76 87
1,127
8
786
377
-
1,000 2,000 3,000 4,000
-
1,000 2,000 3,000 4,000 5,000
-
500
1,000
1,500
183 247
735 60
2,259
1,369
Chemical
Environment
Energy
187 220
786 46
2,080
903
Chemical
Environment
Energy
74 82
316 23
831 332
-
1,000 2,000 3,000 4,000
-
1,000 2,000 3,000 4,000
-
500
1,000
1,500
30 48
1,372 59
2,824 892
Chemical
Environment
Energy
58 65
2,260
85
3,707 1,215
-
1,000 2,000 3,000 4,000
-
2,000
4,000
6,000
Domestic
Export
All values are in Rs. crore
Energy | Environment | Chemical | Services
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Environment and Industry Outlook
• Covid-19 Impact was seen reducing in India till the Q3 end but have foreseen increase in COVID cases basis rising concerns in Africa, followed by America and Europe.
Global Global Pandemic Pandemic Effect Effect
Input Cost Input Cost
•
India's PMI for manufacturing reduced to 55.5; amid concerns over another wave of COVID-19 but still in expansion zone.
• PMI for other Asian countries like
Indonesia, Malaysia, Philippines, Saudi Arabia, UAE, Qatar were stagnant or reduced than November levels thus showing concerns due to COVID-19.
• For FY 2022, the GDP growth for India is adjusted to 8.5% from 9.5% previously. (source: IMF)
Market Market Sentiments Sentiments
Demand Demand
• Steel price continued to climb thus increasing the
input cost.
• Raw material costs to chemical stayed higher due to to elevated safety stocking for materials and high freight costs.
• Surge in global demand coupled with supply chain disruption led to increase in commodity chemical prices in recent past.
•
•
Industrial sectors such as sugar/distillery are expected to perform well in coming quarters owing to governments thrust.
Improved prospects of orders from refinery and petrochemical sector.
Energy | Environment | Chemical | Services
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Sources: MOSPI, WHO, IMF
Environmental consciousness has been at the core of our products and services offerings. The focus will continue strengthening our green portfolio as we chart the decarbonisation path.
Energy | Environment | Chemical | Services
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For more information about Thermax:
Contact Us Thermax Limited Thermax House 14, Mumbai – Pune Road Wakdewadi, Pune 411003, India
visit: www.thermaxglobal.com
Energy | Environment | Chemical | Services