Thermax reported a 34% surge in order booking, with revenue reaching ₹2,635 crore. Profit before exceptional items and tax increased by 47%. The company also approved the incorporation of a wholly-owned step-down subsidiary in Dubai via Thermax Engineering Singapore Pte Ltd. The financial results reflect strong performance across various business segments and strategic growth initiatives.
Financial Highlights
Thermax reported strong financial results, with operating revenue of ₹2,635 crore in Q3, representing a 4% year-over-year increase. Profit before exceptional items and tax reached ₹230 crore, a significant 47% increase from the previous year. Profit after tax (PAT) stood at ₹205 crore, marking an impressive 80% rise compared to the same quarter last year.
Order Book Growth
The company’s order book demonstrated robust growth, increasing by 34%. As of December 31, 2025, the total order balance was ₹12,641 crore, up 11% from the previous year. Strong order inflows are driven by success in utility boilers and associated systems from Dangote Industries, a major West African conglomerate and the data center segment from customers in North America and India.
New Subsidiary Incorporation
The Board approved the incorporation of a new wholly-owned step-down subsidiary in Dubai, further expanding the company’s international presence. This strategic move is facilitated through Thermax Engineering Singapore Pte Ltd.
Segment Performance
Segment-wise, Industrial Products contributed ₹1,289.82 crore, Industrial Infra contributed ₹1,032.62 crore, Green Solutions contributed ₹163.59 crore, and Chemicals contributed ₹200.23 crore to the total revenue.
Source: BSE
