Thermax wins Rs 252-cr order to renovate ESPs

The energy and environment solutions provider has received an order for Rs 251.7 crore from an Indian public sector power company.

The contract is for the renovation and modernisation of the electrostatic precipitator (ESP) package of its 3x210 MW thermal power station in Bankura, West Bengal, India.

The company said it will renovate, retrofit and modernise the ESP systems to reduce particulate emissions and comply with the air quality standards set for the power plants. The scope of supply includes design, engineering, manufacturing, dismantling/relocation, civil work, construction and commissioning of the ESP systems. The project is slated to be completed in 25 months, it added.

Commenting on this contract, Ashish Bhandari, MD & CEO, Thermax, said, "ESP is a flagship product of Thermax's Air Pollution Control business with more than 2,000 units working successfully in India and overseas. Thermax's extensive experience in providing specialised solutions for clean air and cost competitiveness led to this win."

Thermax offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. Thermax has manufacturing facilities in India, Europe and Southeast Asia. The sustainable solutions Thermax develops for client companies are environment-friendly and enable efficient deployment of energy and water resources.

On a consolidated basis, Thermax reported 59% YoY rise in net profit to Rs 126 crore on a 27% YoY increase in operating revenue to Rs 2,049 crore for the third quarter of FY 2022-23.

Shares of Thermax rose 0.56% to Rs 2129 on Friday, 10 February 2023.

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