Q4: Engineering Company’s Net Profit Soars 52%, Declares 500% Dividend

Mid cap company from engineering sector, Thermax Ltd on Wednesday announced 52% jump in net profit to Rs 156 crore for the quarter ended March 2023 as against Rs 103 crore declared in the corresponding quarter of last year. Board of directors of Thermax Ltd recommended a dividend of Rs 10 per equity share for the FY 2022-23. Thermax shares witnessed a jump of 1.37% on BSE during the day. Check details below:

Thermax Ltd Announces 500% Dividend: According to the BSE filing of the company, "We further wish to inform you that the Board of Directors have recommend a dividend of Rs. 10/- per equity share of Rs. 2/- each (500%), for the financial year 2022-23, subject to approval of shareholders at the ensuing 42nd Annual General Meeting. Record date for the payment of dividend is fixed as Friday, July 21, 2023."

Thermax Ltd Stock Performance & Return: Last trading price of Thermax Ltd share is Rs 2463.15 apiece on BSE. The stock's 52-week high price is Rs 2678.50 apiece and 52-week low price is Rs 1830.35 apiece, respectively. The company's market capitalisation is Rs 29,349.98 crore. In last 3-months, Thermax Ltd share soared 20%, gave 14% return in last 6-months, 18% return in last 1-year, and 73% return in last 2-years. Thermax Ltd share soared 251% in last 3-years.

Thermax Ltd Q4: Thermax declared its revenue from operation jumped by 16% to Rs 2,310.8 crore for the quarter under consideration as against Rs 1,992 crore declared in the year ago period.

Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) for the March quarter soared 48 % to Rs 199.9 crore as against Rs 135.2 crore declared in corresponding quarter last year. Thermax EPS surged to Rs. 13.85 in March 2023 from Rs. 9.10 in March 2022.