The Hindu Business Line : Thermax plans additional unit at Vadodara

Setting up an additional facility, selective internationalisation and focus on domestic captive power business are proposals included in the roadmap that the Pune-based Thermax Ltd, a player in energy and environment segment, has chalked out for itself for the current year.

Talking to presspersons, Ms Meher Pudumjee, Chairperson, Thermax, said the company was in the final stages of signing the land agreement in Savli in Vadodara for the setting up the additional facility. This facility would cater to the boilers and heaters segment and is expected to be operational within 12 months. The investment for this venture would be Rs 100 crore which would be utilised from internal accruals and the land that is being looked at is 100 acres.

It may be recalled that the company had originally decided to set up the plant at the Gujarat Industrial Development Corporation premises in Vaghodia.

internationalisation

Ms Meher said the company was renewing its thrust on selective internationalisation and is drawing up a broad plan to have a significant share in the markets, especially in South-East Asia and West Asia. She said the company has its presence in these markets for quite a long time but the market share in both the locations were less than five per cent and "we would be happy if we can garner a market share of 10 per cent''.

She said that with oil prices pegged at $75 a barrel, there were opportunities in the oil and gas sectors in West Asia. On the other hand, with the high price of oil, there was opportunity for solid fuel, be it coal or biomass in South-East Asia.

New biz models

Mr Pheroz Pudumjee, Director, International Business, said that it was time for the company to look at new business models while pointing out that there was only regular but incremental growth.

Net profit at Rs 27.5 cr

Commenting on the first quarter performance of the company, Ms Meher said net profit stood at Rs 27.5 crore as compared to Rs 13.28 crore for the corresponding quarter last fiscal and sales stood at Rs 318.6 crore as against Rs 223.23 crore for the previous fiscal.

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