Thermax Limited offers solutions to energy, environment and chemical sectors. The Company’s portfolio includes boilers and heaters, absorption chillers/ heat pumps, power plants, solar equipment, air pollution control equipment/system, water and waste recycle plant, ion exchange resins and performance chemicals and related services.
Q3 FY26 Earnings Results
- Revenue from Operations: Consolidated ₹2,635 cr (+4% YoY vs ₹2,529 cr, +6.5% QoQ); standalone aligned, driven by industrial products/infra, green solutions.
- EBITDA: ₹254 cr (+34.5% YoY), margin 9.7% (+220 bps YoY); exceptional gains ₹59 cr (provision reversal ₹51 cr, interest ₹29 cr, offset by labour codes ₹21 cr).
- PAT: Consolidated ₹205 cr (+80% YoY vs ₹114 cr), EPS ₹18.12 (+76% YoY); 9M PAT ₹476 cr (+11% YoY).
- Other key metrics: Order book ₹12,641 cr (+11% YoY), inflows ₹3,551 cr (+6% YoY); debt-equity stable.
Management Commentary & Strategic Decisions
- Strong order momentum, execution; exceptional items aided PAT.
- Strategic moves: Nigeria refinery order; capex for green energy.
Q2 FY26 Earnings Results
- Revenue from Operations: ₹2,474 cr (−5% YoY vs ₹2,616 cr, +15% QoQ vs ₹2,158 cr).
- EBITDA: ₹172 cr (−38% YoY), margin 7% (−370 bps YoY).
- PAT: ₹120 cr (−39% YoY vs ₹197 cr).
- Other key metrics: Order book ₹12,300 cr (+6% YoY).
Management Commentary Q2
- Cost overruns pressured; order book growth positive.
- Strategic moves: Project execution focus.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.