Thermax announced strong Q3 FY26 results, with order booking up 34% to ₹3,080 crore and operating revenue at ₹2,635 crore. Profit after tax increased 80% to ₹205 crore. The company also highlighted the incorporation of a new wholly-owned step-down subsidiary in Dubai. A favorable court order reversed a previously recognized provision, significantly impacting profits.
Financial Performance
Thermax reported a consolidated operating revenue of ₹2,635 crore in Q3 FY26, a 4% increase compared to ₹2,529 crore in the same quarter last year. Profit before exceptional items and tax increased by 47% to ₹230 crore. The consolidated profit after tax (PAT) increased 80% to ₹205 crore.
The company’s order booking for the quarter stood at ₹3,080 crore, representing a substantial 34% increase year-over-year.
Exceptional Items Impact
Exceptional items positively impacted profit before tax by ₹59 crore. This includes a ₹51 crore reversal of a previously recognized provision and ₹29 crore in interest income due to a favorable court order regarding an arbitral award.
Order Book and Segment Highlights
As of December 31, 2025, the order balance for the quarter was ₹12,641 crore, up 11% from the corresponding period last year.
New Subsidiary Incorporation
The Board has approved the incorporation of a wholly-owned step-down subsidiary in Dubai through Thermax Engineering Singapore Pte Ltd.
Source: BSE
