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)
November 10, 2021
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 Requirements)
Regulations, 2015- Investor Presentation
Dear Sir,
In terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions, please find enclosed the Investor Presentation for Q2 FY 21-22.
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
REGO. OFFICE : D 13, MIDC INDUSTRIAL AREA, R. D. AGA ROAD, CHINCHWAD, PUNE 411 019. INDIA CORPORATE IDENTITY NUMBER : L29299PN1980PLC022787
Thermax Limited – Investor Presentation Q2 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
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An Energy and Environment Solution Provider
Thermax offers integrated solutions in the areas of energy and environment - heating, cooling, power, water and waste management, air pollution control and chemicals.
Vision
Values
To be globally respected high performance organization offering sustainable solutions in energy and the environment
Respect
Commitment
Honesty and Integrity
Concern for Society And the Environment
Energy | Environment | Chemical | Services
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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
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Business Portfolio
Power
Heating
Cooling
Water
Chemical
Utilities
Raw Material
Desired Products
Waste
Air Pollution Control
Wastewater Treatment
Hazardous Waste Treatment
Waste to Energy Generation
Energy | Environment | Chemical | Services
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Thermax Social Compact Initiative
Pilot Study with Dasra and Aajeevika Bureau
Organisation wide implementation
•
Thermax partnered with Dasra and Aajeevika Bureau to review policies and practices across its supply chain related to informal workers to live a life of dignity and equity. It was done on 5 key areas of Wages, Safety, Health, Gender Equality, Entitlements & Social Security.
• Each business unit & our vendors have used the framework of Dasra Foundation and Aajeevika to identify catch up areas for implementation. Time bound action plans has been created to provide dignity of life and equity to informal workforce.
Dasra: a strategic philanthropy foundation that nurtures powerful partnerships to help India achieve SDGs by 2030. Aajeevika: the bureau provides a range of services to rural migrants – skill training, placement, legal aid, financial inclusion assistance and collectivization – in order to further their quest towards successful and stable livelihoods.
Energy | Environment | Chemical | Services
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Green Technologies from Thermax
Emission control
Water Recycling
Eco Friendly Power
Solar
Waste Heat Energy
Cooling from waste Heat
Energy | Environment | Chemical | Services
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Business Highlights - Energy
Cooling the Petrochem Process
Reducing the Carbon footprint of a Food Major
TBWES Booked Order for Refinery
Helping Global Tyre Company to reduce CO2 emissions
Arial (Body) 14pt
Thermax commissioned its first half- effect absorption chiller for Petrochemical company in Tamil Nadu.
Biomass boiler plant for a global Food major under Build-Own-Operate which will help them to reduce their carbon footprint.
TBWES has concluded Rs. 293 crore order for a boiler package comprising 3 Oil & Gas fired boilers on EPC basis for a refinery and petrochemical complex in western India.
Generating green steam rubber curing; enabling the global tyre company to reduce its CO2 emission by ~19,000 tons per year.
Energy | Environment | Chemical | Services
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Business Highlights - Environment
Helping a Pharma Major to manage Particulate Emissions
Managing Emissions for an Oil Mill in Malaysia
ZLD Plant Commissioned at Glass Major
First installation of in- house developed MVR
Arial (Body) 14pt
Commissioned ESP for CFBC boiler at a Pharma Major in India.
Commissioned Dry ESP for palm oil mill in Malaysia.
New Site Commissioned for 800 m3/day WWTP & ZLD at a prominent Glass Manufacturing Industry.
First in-house developed 10 KLD Mechanical Vapor Re-compression installed at an Engineering Pump Company.
Energy | Environment | Chemical | Services
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Business Highlights - Chemical
Good Growth in Russian Oil Field chemicals
Helping Build Metro Rail
Growth in Construction Chemicals
USA and Europe; catalyzing Growth for Chemical Resins
Industrial water treatment Image
Oil field chemicals – high flash point pour point depressant application going strong in Russian market.
Supply of Construction Chemicals - Mould Releasing Agent at Metro project in West India. This helps clean and easy removal of moulds and formwork to ensure smooth finished concrete.
Construction chemicals business have shown growth of 77% Y-O-Y by focusing on west region’s key residential and infrastructure projects.
Order booking increased to 25% Y-O-Y for ion exchange resins due to major OB received from USA and Europe for industrial water treatment and chemical processing.
Energy | Environment | Chemical | Services
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New Product Launches
Water and waste solutions launched new products on SBR, RO and Sewage Recycle Systems.
An Improved Version 2 for the Compact and Modularized Membrane-based Sewage Recycle System
A New Modularized Sequential-Batch Reactor
(SBR) based STP Recycle System
A Compact and Automated RO plant
Energy | Environment | Chemical | Services
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Customer Accolades
Thermax honoured for ‘Zero Accident Achievement’ from JSW Steel Ltd.
Tata Power accolades Thermax for completing the projects with Safety and Quality
Energy | Environment | Chemical | Services
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Thermax Q2 FY2021-22 Results
Order book
Order balance
1,856 cr.
6,516 cr.
Operating revenue 1,469 cr.
PBT*
114 cr.
PAT
88 cr.
Cash and Investments 2,271 cr.
67 %
26 %
29 %
66 %
183 %
51 %
* : % Growth with respect to Q2 FY 2020-21
* : Profit Before Tax and exceptional item
Energy | Environment | Chemical | Services
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Q2 - Order Book Status
Others 19%
Refinery and Petrochemicals 19%
• Highest Order booking in last 8 quarters
• Received INR 293 crore order for a refinery and petrochemical
complex in India
•
First of a kind order received to set up Bio CNG plant based on rice straw
Metals and Steel 15%
• Enquiry pipeline from Refinery, Cement and Metal sectors
continues to be strong
Cement 4%
Transportation 6%
Chemical 7%
Sugar/Distillery 10%
Food and Beverages 10%
Textile 10%
Energy | Environment | Chemical | Services
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Consolidated Performance Summary by Segment
Segment
Energy
Environment
Chemical
Total
Order Booking
Order Balance
Q2, 2022
YOY% Change YTD SEP 2021 YOY% Change
1,432
285
139
1,856
69 %
84 %
25 %
67 %
4,870
1,532
113
6,516
39 %
-5 %
34 %
26 %
Consistent healthy order booking and order balance across segments
Energy | Environment | Chemical | Services
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Note: Values are in Rs. crore
Consolidated Performance Indicators
Q1, 2021 Performance Indicator
Q2, 2022 Q2, 2021
1,696 Order Booking
6,109 Order Balance
1,052 Revenue
56
Profit Before Tax and Exceptional (PBT)
5.3% PBT before Exceptional %
-
56
Exceptional Item
Profit Before Tax (PBT)
5.3% PBT %
42
Profit After Tax (PAT)
4.0% PAT %
1,856
6,516
1,469
114
1,114
5,190
1,141
69
7.8 %
6.0 %
- 114
-25 44
7.8%
3.9%
88
31
6.0%
2.7%
Energy | Environment | Chemical | Services
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Note: Values are in Rs. crore and ratios are in %
Business Performance Summary
For Q2, Sep 21
For Q2, 2020
YTD SEP 21
YTD SEP 20
Segments
Revenue PBIT PBIT %
Revenue
PBIT PBIT % Revenue PBIT PBIT % Revenue PBIT PBIT %
Energy
1,057
84 8.0 %
Environment
Chemical
312
129
6 2.0 %
20 15.5 %
886
155
115
39 4.4 %
1,820
112 6.2 %
1,386
12 0.9 %
10 6.7 %
35 30.5 %
492
251
9 1.9 %
42 16.5 %
239
199
(0)
-0.1 %
52 26.3 %
PBIT - Segment PBIT before exceptional & Unallocated Overheads
Energy | Environment | Chemical | Services
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Business Segment Wise - Quarterly Trend
Energy
OB
RR
PBIT
Environment
OB
RR
PBIT
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
120 100 80 60 40 20 ‐ ‐20 ‐40
T I B P
s ’ e r o r C
. s R n
i
l
e u a V
800 700 600 500 400 300 200 100 ‐
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
25 20 15 10 5 ‐ ‐5 ‐10 ‐15
T I B P
FY1920
FY2021
FY2022
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
1,066
97
1,173
1,175
109
1,256
763
28
1,432
1,057
84
OB
RR
PBIT
286
197
4
FY1920
633
179
8
691
197
10
FY2021
FY2022
167
199
16
104
84
‐10
155
155
10
172
253
18
204
302
20
300
180
3
285
312
6
Chemical
OB
RR
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
PBIT 40 35 30 25 20 15 10 5 ‐
T I B P
FY1920
FY2021
FY2022
OB
RR
PBIT
116
117
29
109
110
20
116
117
29
100
96
18
92
84
17
111
115
35
102
111
29
120
119
22
139
123
22
139
129
20
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
FY 2020-21
YTD SEPTEMBER FY 2021-22
Order Book
Chemical
Environment
Energy
Chemical
Revenue
Environment
Energy
172 252
555 80
2,693
1,030
150 128
522 64
Chemical
Environment
Energy
1,978 710
Chemical
Environment
Energy
61 77
246 39
1,171
261
-
1,000 2,000 3,000 4,000
-
1,000
2,000
3,000
-
500
1,000 1,500 2,000
183 247
735 60
2,259
1,369
Chemical
Environment
Energy
113 138
470 23
1,249 571
Chemical
Environment
Energy
109 20
298 14
674 384
-
1,000 2,000 3,000 4,000
-
500
1,000 1,500 2,000
-
500
1,000
1,500
Order Balance
Chemical
Environment
Energy
30 48
1,372 59
2,824 892
Chemical
Environment
Energy
49 64
1,432 101
3,736 1,135
Domestic
Export
-
1,000 2,000 3,000 4,000
-
2,000
4,000
6,000
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,
as a result we could see good business activities and even better prospects are expected in coming quarters.
• SEA, Europe, Africa, US has faced 3rd Wave
in Q2 impacting business visibility.
Global Global Pandemic Pandemic Effect Effect
• The commodity prices stayed high and is still a key
concern.
• Steel price continued to remain high thus increasing
the input cost.
Input Cost Input Cost
• Raw material costs to chemical stayed higher:
• Ocean freight have increased 3 to 4 times due to the rise in fuel prices and domestic diesel prices have also increased during the quarter.
•
India's PMI for manufacturing during Q2 was seen above 52 levels, thus showing expansion sentiments in manufacturing companies.
• PMI for other Asian Countries like Indonesia, Malaysia, Philippines, Saudi Arabia, UAE, Qatar also showed increase in the number; showing positive sentiments for future investment.
• For FY 2022, the GDP growth for India is
projected at 9.5%. (source: IMF)
Market Market Sentiments Sentiments
Demand Demand
•
•
Industrial sectors such as Food, Pharma, Oil & Gas Refinery and Chemical continues to perform well.
In Q2 2021, the enquiry pipeline in domestic operations improved across industry segments.
•
Improving enquiry pipeline in export markets.
Energy | Environment | Chemical | Services
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Sources: RBI, MOSPI, WHO, IMF, Projects today
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