Thermax Limited announced its financial results for the quarter ended September 30, 2026. The company reported a consolidated operating revenue of ₹2,756 crore, an 11% increase compared to the same quarter last year. Consolidated profit after tax (PAT) stood at ₹113 crore, a 5% decrease, impacted by a product mix shift and impairment provision. Standalone revenue grew 13% to ₹1,712 crore with PAT up 16% to ₹263 crore.
Thermax Reports Strong Revenue Growth in Q2 FY27
Thermax Limited, a prominent player in energy and environment solutions, has announced its financial results for the second quarter of the fiscal year 2026-27, ending September 30, 2026. The company achieved a consolidated operating revenue of ₹2,756 crore, marking an impressive 11% increase from ₹2,474 crore in the corresponding quarter of the previous fiscal year.
Financial Performance Highlights
On a consolidated basis, the company’s profit before tax (PBT) was ₹169 crore, showing a 3% decrease from ₹174 crore in the prior year’s comparable period. The consolidated profit after tax (PAT) was ₹113 crore, reflecting a 5% decrease from ₹119 crore. This quarterly performance was affected by factors including shifts in product mix and higher input costs within the Industrial Product Segment, as well as a ₹15 crore impairment provision related to hybrid renewable energy projects in the Green Solutions segment.
Standalone Performance
On a standalone basis, Thermax Limited demonstrated robust growth, posting an operating revenue of ₹1,712 crore during the quarter, a 13% increase compared to ₹1,510 crore in the corresponding quarter of the previous year. The profit after tax for the standalone entity saw a significant 16% growth, reaching ₹263 crore from ₹226 crore in the prior year.
Order Booking and Balance
As of September 30, 2026, Thermax’s consolidated order balance stood at ₹14,250 crore, up by 16% from ₹12,300 crore in the previous year. The order booking for the quarter was ₹3,259 crore, an 8% decrease from ₹3,551 crore. For the standalone entity, order booking increased by 21% to ₹2,405 crore compared to ₹1,991 crore in the previous corresponding quarter. The standalone order balance at the end of the quarter was ₹7,141 crore, a 2% increase from ₹6,981 crore.
Product Innovation
During the quarter, Thermax launched the Thermax-i series of intelligent boilers and heaters at Boiler India 2026. The UltraPac-i, the first product in this series, is a biomass-fired boiler designed to optimize performance and anticipate variations in fuel characteristics. Pilot installations have shown potential fuel savings of up to 10%, offering opportunities for reduced operating costs and lower carbon emissions.
Source: BSE
