Thermax reported an 18% year-on-year increase in consolidated net profit to Rs 244 crore for the March quarter. The company had a 13% y-o-y revenue growth to Rs 3,428 crore during the same period. The order balance for the quarter was Rs 13,604 crore, reflecting a 27% increase. Additionally, the order booking for the quarter was Rs 4,490 crore, an 112% y-o-y increase.
This surge in order bookings was primarily due to a significant contract won by Thermax Babcock & Wilcox Energy Solutions, a wholly-owned subsidiary of Thermax. The company secured a Rs 1,600 crore boiler package supply contract for a 1×800 MW ultra-supercritical thermal power plant located in Central India. Another subsidiary of the group, TOESL, adopted a rolling 12-month forecast model for reporting its order book, which resulted in a 7% increase in the reported order book, now totalling Rs 138 crore.
On a standalone basis, Thermax reported a 27% year-on-year decline in net profit, amounting to Rs 201 crore. This reduction was attributed to an exceptional gain of Rs 94 crore in Q4 FY25 due to the reversal of an impairment provision in Thermax Netherlands. Nevertheless, Thermax’s standalone revenue grew by 15% to Rs 2,226 crore, while the order booking rose by 14% to Rs 1,734 crore. The standalone order balance stood at Rs 6,400 crore, reflecting a 6% increase.
The board has recommended a dividend of Rs 14 per share for FY 2025–26. In celebration of Thermax’s 60th anniversary milestone, the board has also declared a special dividend of Rs 6 per share.