Thermax Q3 net down by 12.8 % at Rs 67 cr

On the operating expenses front, the total operating expenses increased by 3.58 % to Rs 1134 cr during said quarter against Rs 1095 cr during same period last year. Interestingly the raw material cost showed de-growth of 1.37 % on yearly basis. However, the other expenses increased by more than 21 % during Q3FY14 compared to Q3FY13. The company' EBITDA stood at Rs 135 cr in Q3FY14 against Rs 146 cr in Q3FY13, showing a de-growth of 7.51 %.

The company's net profit was down by 5 % to Rs 95 cr in Q3FY14 against Rs 100 cr in Q3FY13. During the said quarter, the financial cost increased considerably on sequential basis. Furthermore, the order backlog of the group is at Rs. 6445 cr, compared to Rs. 5191 cr last year, more by 24 %.

Thermax's quarter result clearly shows that the capital goods companies will start benefiting and showing good result after few quarters only despite of some revival in Capex cycle of various companies. On positive front, the company showed considerable growth in its order book showing some signs of revival in Capex cycle.