Thermax Ltd (TMX) is a leading energy and environment solutions provider. They offer integrated innovative solutions in the areas of heating, cooling, power, water & waste management, air pollution control and chemicals . Order book grew by 47% YoY to Rs5,302cr (1.4x TTM revenue) supported by 44% rise in order inflow. Q4FY18 sales & PAT declined by 2.4% & 5% YoY (below estimate), due to slower execution in environment & chemical business...