Thermax Limited expanded its global footprint on June 25, 2026, with the incorporation of a wholly owned step-down subsidiary, Thermax Integrated Middle East L.L.C, in Dubai. The new entity was established by Thermax Engineering Singapore Pte. Ltd. (TESPL), a wholly owned subsidiary of Thermax Limited , to strengthen its presence in the Middle East region. The Certificate of Incorporation was issued by the Department of Economic Development, Dubai, on the same day.

The subsidiary will focus on providing on-site project management services, installation including erection and maintenance, supervision related services, and turnkey project contracting. It will also offer marketing support to the ultimate parent entity. The incorporation was communicated to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thermax Integrated Middle East L.L.C is wholly owned by TESPL, making it a step-down subsidiary of Thermax Limited. The consideration for the subscription was in the form of cash. The company plans to infuse a capital of AED 367,000 into the new entity in due course of time.

Key Details of the New Subsidiary

Thermax Limited has announced a total dividend of ₹20 per equity share for the financial year 2025-26, including a special payout to commemorate its 60th anniversary. The Board of Directors recommended a final dividend of ₹14 per share alongside a special dividend of ₹6 per share. Shareholders must hold shares as of July 3, 2026, to qualify for the dividend distribution.

The dividend payments are subject to the approval of members at the 45th Annual General Meeting (AGM). The meeting is scheduled to be held on Thursday, July 30, 2026, at 4.30 p.m. IST via Video Conferencing (VC) and Other Audio-Visual Means (OAVM). The company stated that the dividend would be paid within the prescribed statutory timelines following the AGM approval.

The company has notified shareholders that dividends are taxable under the Income-Tax Act, 2025. Consequently, Thermax will deduct tax at source (TDS) at the time of payment. Members have been requested to submit relevant documents to the company or its registrar and transfer agent (RTA) to ensure the appropriate TDS rate is applied. Documents can also be uploaded via a designated link provided by the registrar, KFintech.

Key Dividend Details

The Notice for the 45th AGM and the Annual Report for FY 2025-26 will be sent electronically to shareholders whose email IDs are registered with the company or depository participants. Physical shareholders have been advised to register their email addresses with KFintech to receive these documents. The reports will also be available on the company’s website and the websites of BSE Limited and National Stock Exchange of India Limited.