Thermax Limited , a leading energy and environment solutions provider, has unveiled ambitious plans for long-term green energy expansion, bolstered by a robust order backlog of ₹11,376 crore. The company's strategic focus on sustainable technologies comes alongside a strong financial performance in the first quarter of fiscal year 2026.

Green Energy Expansion

Thermax is intensifying its efforts in the clean energy sector, with a particular emphasis on:

• Clean hydrogen technology
• Biomass boilers
• Waste heat recovery solutions

These initiatives are expected to drive growth in the company's industrial infrastructure and green solutions segments, positioning Thermax at the forefront of India's energy transition.

Q1 FY2026 Financial Highlights

Thermax reported impressive financial results for the quarter ended June 30, 2025:

• Consolidated profit after tax (PAT) increased by 39% to ₹151.00 crore, up from ₹109.00 crore in Q1 FY2025
• Profit before tax (PBT) rose 31% to ₹211.00 crore, compared to ₹161.00 crore in the same quarter last year
• Order booking grew by 7% to ₹2,748.00 crore
• Order backlog as of June 30, 2025, stood at ₹11,376.00 crore, up 7% year-on-year

However, consolidated operating revenue saw a slight decrease of 2% to ₹2,150.00 crore, attributed to delayed customer clearances and execution challenges.

Segment Performance

The company's financial results revealed mixed performance across its business segments:

The Green Solutions segment showed improvement, primarily driven by enhanced operational efficiency and new projects.

Government Incentives

Thermax's Q1 results were boosted by an accrual of ₹56.00 crore received as an incentive under the Package Scheme of Incentives (PSI) 2007 from the Government of Maharashtra. This additional income contributed to the company's strong profit growth.

Future Outlook

With its substantial order backlog and strategic focus on green energy solutions, Thermax is well-positioned to capitalize on the growing demand for sustainable technologies. The company's investments in clean hydrogen, biomass, and waste heat recovery align with India's push towards renewable energy and carbon reduction goals.

As Thermax continues to expand its green energy portfolio, it is poised to play a significant role in India's energy transition, while potentially delivering strong financial performance in the coming quarters.

Annual General Meeting

Thermax also announced its upcoming 44th Annual General Meeting, scheduled for July 31, 2025. The meeting will address key business matters, including the adoption of financial statements, declaration of dividends, and appointment of directors and auditors.

As Thermax forges ahead with its green energy initiatives and maintains a strong order book, the company appears well-equipped to navigate the evolving energy landscape while driving sustainable growth.

Thermax Limited , a leading provider of energy and environment solutions, has announced its financial results for the first quarter, showcasing a mixed performance with significant profit growth despite a slight revenue decline.

Profit Soars Amid Revenue Challenges

The company reported a consolidated profit after tax (PAT) of Rs. 151.00 crore for Q1, marking a substantial 39% increase from Rs. 109.00 crore in the corresponding quarter of the previous year. This impressive bottom-line growth was achieved despite a marginal 2% decrease in consolidated operating revenue, which stood at Rs. 2,150.00 crore compared to Rs. 2,184.00 crore in the same period last year.

Key Financial Highlights

• Consolidated profit before tax (PBT) rose by 31% to Rs. 211.00 crore, up from Rs. 161.00 crore year-over-year.
• The company's EBITDA improved to Rs. 225.00 crore from Rs. 141.00 crore, with the EBITDA margin expanding to 10.47% from 6.46%.
• Order booking for the quarter increased by 7% to Rs. 2,748.00 crore, compared to Rs. 2,569.00 crore in the same period last year.
• The order balance as of June 30 stood at Rs. 11,376.00 crore, up 7% from Rs. 10,681.00 crore in the previous year.

Segment Performance

Thermax's financial results were broken down into four main segments:

Factors Influencing Performance

The company's profitability was boosted by an accrual of Rs. 55.82 crore as income towards incentives receivable under the Package Scheme of Incentives (PSI) 2007 from the Government of Maharashtra. This contrasts with the previous year's Q1, which included Rs. 27.00 crore received as interest on an income tax refund.

Thermax attributed the slight revenue decline to delayed customer clearances and execution challenges. However, the company's order book remains robust, indicating potential for future growth.

Standalone Performance

On a standalone basis, Thermax Limited experienced a more pronounced impact on its top line:

• Operating revenue decreased by 10% to Rs. 1,183.00 crore from Rs. 1,311.00 crore in the same quarter last year.
• Profit after tax declined by 47% to Rs. 46.00 crore from Rs. 86.00 crore in the same period.
• Order booking, however, showed strong growth, increasing by 20% to Rs. 1,752.00 crore.

Looking Ahead

Thermax's strong order book position, with a 7% increase in order balance, provides a positive outlook for future quarters. The company's ability to improve profitability in a challenging environment demonstrates its resilience and adaptability in the energy and environment solutions sector.

As Thermax continues to navigate market dynamics, its performance in the coming quarters will be closely watched by investors and industry observers alike.