Thermax - Range Of Offerings On Energy Transition: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.We attended Thermax Ltd.’s analyst meet where company demonstrated its innovative technologies and bespoke solutions for the green solutions segment to cater to energy transition needs of customers. Through its two subsidiaries Thermax Onsite Energy Solutions Ltd. and First Energy Pvt. Ltd., company offers a range of products and services across bio energy and renewable. It also has lined up plans to enter into coal gasification and electrical energy solutions including electric pumps. We expect Thermax to continue to invest in these initiatives over next few years. These new products, though higher in pricing than traditional products by 30- 40% but will be return on investment accretive based on energy cost savings. .Order inflows have started improving with one large order of Rs 5 billion announced for bio-CNG plants. Over FY23-26, we expect Thermax to post a 14% compound annual growth rate in revenue on the back of a strong order book (Rs 103 billion; order book/revenue: 1.1 times). We estimate a 21% CAGR in earnings, aided by revenue growth and margin improvement. We continue to value Thermax at 38 times December, 25 estimated earnings and add value from green solutions. We maintain 'Neutral' rating on the stock with a target price of Rs 2,740 and would look for better entry points in the stock..Click on the attachment to read the full report:.Ugro Capital - The Growth Stage Is In Place: Centrum Broking Initiates Coverage With A 'Buy' Rating.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Thermax - Range Of Offerings On Energy Transition: Motilal Oswal

Through its two subsidiaries Thermax Onsite Energy Solutions and First Energy, company offers a range of products and services across bio energy and renewable.

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Thermax - Range Of Offerings On Energy Transition: Motilal Oswal

Through its two subsidiaries Thermax Onsite Energy Solutions and First Energy, company offers a range of products and services across bio energy and renewable.

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