Thermax reported a strong Q3 FY26 performance, marked by robust order booking and growth across its Industrial Products, Industrial Infra, and Green Solutions segments. The company’s total order book reached ₹3,080 crore, a 34% increase year-over-year. A significant order was secured from Dangote Industries for a refinery and petrochemical complex in Nigeria, contributing to the strong performance.
Financial Highlights: Q3 FY26
Thermax announced positive financial results for Q3 FY26, showcasing considerable growth in key areas. The company’s order book reached ₹3,080 crore, reflecting a substantial 34% year-over-year increase. The order balance stood at ₹12,641 crore, an 11% rise compared to the previous year. Operating revenue grew by 4% to ₹2,635 crore. Profit After Tax (PAT) saw an impressive 80% surge, reaching ₹205 crore.
Segment Performance
The Industrial Products segment demonstrated a 14% increase in order booking. The Industrial Infra segment witnessed a robust 68% growth, while Green Solutions showed a remarkable 268% increase, driven by changes in reporting methodology. The Chemicals segment experienced an 8% rise in order booking.
Key Business Highlights
The company secured a major boiler order from a refinery in Nigeria. Successful delivery of 300 m³/hr effluent recycle plant to a leading steel & power producer. A 16 TPH boiler project broke ground in Hosur, Tamil Nadu, with significant CO2 reduction potential. The business also recognized the first cascade dispatched from the MSW-to-CBG plant in Prayagraj, Uttar Pradesh.
Strategic Developments
Thermax secured significant wins, including a 100 MW+ data center growth project, a major boiler order for a refinery in Nigeria, and strengthened its emission compliance solutions for a leading palm oil producer in Thailand. Thermax was also chosen as a trusted partner for the high-altitude Shinku La Tunnel project.
Industry Outlook and Future Focus
The company notes that data centers are emerging as a promising sector and emphasizes improved export performance in the MENA region. They also noted the average input costs for key metals like copper and aluminum experienced a roughly 7-10% increase. The company celebrated 30 years of NSE Listing.
Source: BSE
