Thermax - Buy

It has shown a marked improvement in FY11 performance compared with the past two years. Revenue growth has outpaced peers in Q1 FY12. The current order book gives it a revenue visibility for more than a year but fresh order inflows are needed for revenue to grow at the same pace. It has corrected by 18% in the past one month and trades at P/E of 14, less than half its average P/E of past 5 years. The scrip gave negative returns in 1 year and is likely to move side ways in next 2 quarters. Long term portfolio investors should utilize deep cuts and buy around Rs.425 and hold for 1-2 years for decent spike in prices. Bought to you by Ingenious Investor Equity Research Division Ravina Consulting Pattamal Plaza 3rd Cross Kamanahalli BANGALORE 560084 For Free Stock Advise + Ideas sowmya@ravinaconsulting.com Talk / SMS 08105737966 Read - www.ingeniousinvestor.blogspot.com Follow us - www.twitter.com/smartinvestor

Buy Thermax

Source ET

Bought to you by

Ingenious Investor

Equity Research Division

Ravina Consulting

No.429 Mahavir Tuscan

Near Hoodi Circle, Whitefield

Mahadevapura Post

BANGALORE 560048

For Stock Advise + Ideas

sowmya@ravinaconsulting.com

Talk / SMS 08105737966

Read - www.ingeniousinvestor.blogspot.com

Follow us - www.twitter.com/smartinvestor