Thermax - Decarbonisation Theme Augurs Well: HDFC Securities Initiates Coverage

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .HDFC Securities Institutional Equities.Thermax Ltd. has been at the forefront of green technology for more than a decade. Thermax ordering from the green portfolio has expanded from 40% in FY10 to 74% in FY22. The lower carbon footprint target around the globe has allowed the company to position itself globally in clean water, air and energy products and solutions. Over the years, it has streamlined its business segments (synergising via boiler business transfer) and modified the business model (capex to opex model in solar and biomass), partnered with tech provider (flue-gas desulfurization tech imported in 2015 and partnership for Green Hydrogen tech in 2023) and strengthened its supply chain (manufacturing base rejig in Europe and Asia). Thermax stands to benefit from the investment in clean energy, sustainability, decarbonisation, normalisation of the international market and government impetus for cleaner air and water..Click on the attachment to read the full report:.Voltamp Transformers - Key Beneficiary Of Industrial Capex Revival: ICICI Securities Initiates Coverage.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Thermax - Decarbonisation Theme Augurs Well: HDFC Securities Initiates Coverage

Green portfolio driving multiple expansions.

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