Ashish Bhandari, MD and CEO, in conversation with CNBC Bajar, reflected on Q1 performance. Despite not securing major new orders, the company performed well overall, although there was a decrease in orders during March, April, and May. Ashish highlighted that the quarter faced challenges, including a 45-crore hit in the new bio-CNG segment due to engineering changes and a 20-crore impact from unexpected engineering issues in a large project. These factors contributed to a total negative impact of around 70 crores.
However, the rest of Thermax’s operations showed strength and better-than-expected performance. Looking ahead, Ashish expressed optimism for the next quarter, noting improved order trends and a significant 500-crore order. He also discussed future prospects, including the potential for growth in sectors such as chemicals and renewables, despite some current investment challenges.
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