Thermax Limited has scheduled its 45th Annual General Meeting (AGM) for Thursday, July 30, 2026, at 4.30 p.m. (IST), to be conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). The registered office in Pune shall serve as the deemed venue. The company, marking its 60th anniversary, reported a consolidated revenue of ₹10,694 crore and a consolidated PAT of ₹720 crore in FY 2025-26, with order booking growing 34.2% to ₹13,871 crore. The Board has recommended a total dividend of ₹20 per share, comprising a regular dividend of ₹14 and a special dividend of ₹6, subject to shareholder approval.

Key AGM Dates and Schedule

The table below outlines the critical dates for the AGM and dividend distribution:

FY 2025-26 Financial Highlights

Thermax Limited recorded strong operational performance in FY 2025-26, driven by significant growth in order booking and international business. The following table summarises the key consolidated financial metrics:

Business to be Transacted

The AGM will address ordinary business items, including the adoption of financial statements for the year ended March 31, 2026, and the declaration of dividend. Mr. Ashish Bhandari (DIN: 05291138), retiring by rotation, is proposed for re-appointment as a Director.

Special business includes the ratification of the remuneration of M/s. Dhananjay V. Joshi & Associates, Cost Accountants, appointed as Cost Auditors for FY 2026-27. Members are requested to ratify a remuneration of ₹7,50,000 plus applicable taxes and reimbursement of expenses. Additionally, Dr. Ravi Shankar Gopinath (DIN: 00803847) is proposed for re-appointment as a Non-Executive Independent Director for a second term of five years from November 10, 2026, to November 9, 2031.

E-Voting and Participation

Remote e-voting facilities are managed by KFin Technologies Limited. Members can vote remotely from July 27, 2026, to July 29, 2026, or during the AGM. Those who have voted remotely cannot vote again at the meeting. The cut-off date for determining voting eligibility is Thursday, July 23, 2026. Scrutinizers for the process are Mr. Sridhar Mudaliar (FCS 6156) and Ms. Sheetal Joshi (FCS 10480) of M/s. SVD & Associates. The Notice of AGM and Annual Report are available on the company's website.

Thermax Limited reduced its carbon emissions by 35% compared to the FY 2019 baseline in its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26. The company, which provides energy and environment solutions, submitted the report to the stock exchanges on July 3, 2026. While carbon emissions decreased, freshwater consumption increased by 17% and overall waste generation rose by 38% during the year. Thermax attributed the rise in resource consumption and emissions to business expansion, including the commencement of Unit 2 at Jhagadia and two acquisitions in the chemical and water & waste solutions businesses.

Environmental Performance

Thermax disclosed that its total energy consumption for FY 2025-26 stood at 314,680 units, with 50% sourced from renewable energy. The company reported total Scope 1 emissions of 7,422 metric tonnes of CO2 equivalent and Scope 2 emissions of 14,372 metric tonnes of CO2 equivalent.

Water withdrawal totalled 901,669 kilolitres, with a consumption volume of 419,774 kilolitres. The company generated 24,718 metric tonnes of waste in total, of which 21,953 metric tonnes were recovered through recycling, reusing, or other recovery operations.

Social and Governance Metrics

The company reported a workforce of 10,365 individuals, comprising 6,086 employees and 4,279 workers. Women accounted for 8% of the total employee strength and 2% of the total workforce. The report noted one employee fatality during the year, with a Lost Time Injury Frequency Rate (LTIFR) of 0.22 for workers.

On the governance front, Thermax stated that it had received no complaints regarding conflict of interest involving Directors or Key Managerial Personnel. The company also reported that 58% of its inputs were sourced sustainably.

Price Waterhouse Chartered Accountants LLP provided a reasonable assurance report on the BRSR Core indicators for the financial year.