Thermax has reported robust performance for the quarter and year ended March 31, 2026. The group recorded a consolidated operating revenue of ₹3,428 crore for the fourth quarter, a 13% increase year-on-year. Quarterly profit after tax (PAT) rose by 18% to ₹244 crore. Driven by a major ₹1,600 crore boiler package order, the group’s order balance reached ₹13,604 crore as of the fiscal year-end.
Financial Highlights
Thermax delivered a solid financial performance for the final quarter of the 2025-26 fiscal year. Consolidated operating revenue for Q4 reached ₹3,428 crore, representing a 13% growth compared to the same period in the previous year. The group’s profit after tax (PAT) climbed by 18%, totaling ₹244 crore for the quarter. For the full fiscal year 2025-26, the company posted a consolidated operating revenue of ₹10,694 crore, with a full-year PAT of ₹720 crore, marking a 15% increase year-on-year.
Robust Order Book
The company experienced significant momentum in order intake, fueled by a major contract win. Thermax Babcock & Wilcox Energy Solutions Limited (TBWES) secured a boiler package supply contract valued at approximately ₹1,600 crore for a 1×800 MW ultra-supercritical thermal power plant in Central India. As a result of strong demand, the group’s total order balance stood at ₹13,604 crore as of March 31, 2026, a 27% increase over the previous year.
Shareholder Returns and Corporate Appointments
Marking the company’s 60th anniversary, the Board has recommended a final dividend of ₹14 per share, supplemented by a special dividend of ₹6 per share, resulting in an aggregate dividend of ₹20 per share. The record date for this payout is set for July 3, 2026.
In strategic leadership updates, the Board approved the re-appointment of Dr. Ravi Shankar Gopinath as a Non-Executive Independent Director for a second five-year term. Additionally, the company announced the appointment of Ms. Kavita Singh as the new Chief Human Resources Officer and Senior Management Personnel, effective May 25, 2026.
Source: BSE
