Thermax Ltd is eyeing a double-digit topline growth in FY19 and would strive to deliver double-digit margins for the fiscal, said M S Unnikrishnan, MD of the company.

The order inflow in FY19 is expected to be similar to that of FY18 of over Rs 6,000 crore, which was higher by 63 percent, said Unnikrishnan.

The company has won an order worth Rs 340 crore from a leading Indian steel manufacturer for a specially designed boiler, electric turbo generators and ancillary equipment for their production facility in Maharashtra.

The share price of the company added 4.3 percent intraday Monday.

It is a large product order which will be executed in the next 21 months, said Unnikrishnan.

“This will be the largest blast furnace gas-based power plant. It will generate 175 MW of electricity from the waste gas of a steel plant, which will be converted into steam with a specially designed boiler,” he said, adding that this equipment will be manufactured in India, he added.

Going forward, the company is expecting further orders form oil and gas and expect large orders from the cement space over the next couple of years.

Talking about capacity utilisation, he said the Dahej plant which was commissioned last year is working at 44 percent capacity utilisation by end of Q1, which is expected to ramp- up to 65-70 percent.

First Published:Jul 2, 2018 2:10 PM IST