On July 30, 2026, Thermax Limited announced its unaudited financial results for the quarter ending June 30, 2026, as per the exchange filings.
The company recorded a total income of ₹2,370.92 crore, reflecting a 6.6% increase compared to the same period last year. However, the net profit for the quarter saw a significant decrease.
In the June 2026 quarter, Thermax Limited's total income rose to ₹2,370.92 crore, marking a 6.6% year-on-year (YoY) increase from ₹2,223.16 crore in the previous year.
Despite this growth, the total income fell by 31.9% quarter-on-quarter (QoQ) from ₹3,481.75 crore in the March 2026 quarter.
The net profit for the June 2026 quarter was ₹21.79 crore, representing an 85.6% decline YoY from ₹151.45 crore in the corresponding quarter of the previous year.
Additionally, this figure was down 91.1% QoQ from ₹244.40 crore in the March 2026 quarter.
For the financial year 2026, Thermax Limited reported a total income of ₹10,961.63 crore. The net profit for the year stood at ₹720.26 crore, showcasing the company's overall financial performance for the year.
Consolidated profits witnessed a severe downward impact due to a ₹91 crore increase in the estimated completion cost of a single project within the Industrial Infra segment.
Consequently, the profit before tax (PBT) fell by 80% to ₹42.14 crore, compared to ₹211.47 crore in Q1 FY 2025–26.
After accounting for a total tax expense of ₹20.35 crore, the group’s final consolidated net profit settled at ₹21.79 crore, down 85% from ₹151.45 crore last year. This left the quarterly basic and diluted earnings per share (EPS) at ₹2.24.
On a standalone basis, Thermax Limited reported an operating revenue of ₹1,302.95 crore compared to ₹1,195.21 crore in the previous year's first quarter.
The specific ₹91 crore project overrun pushed the standalone bottomline into a net loss of ₹18.10 crore, contrasting with a net profit of ₹46.52 crore in Q1 FY 2025–26.
In terms of segments, Industrial Products brought in the highest revenue at ₹1,058.16 crore, followed by Industrial Infra at ₹814.15 crore.
The Green Solutions business generated ₹244.72 crore, and the Chemical division contributed ₹229.53 crore to the overall revenue mix before adjusting for inter-segment eliminations.
The Board of Directors approved a comprehensive Composite Scheme of Arrangement and Amalgamation to streamline the overall group structure and reduce administrative overheads.
The restructuring involves the demerger of the Bio-CNG Engineering, Procurement, and Construction (EPC) business from Thermax Bioenergy Solutions Private Limited, which had a baseline historical turnover of ₹239.35 crore.
This EPC unit will merge directly into Thermax Limited, while its Operations and Maintenance (O&M) arm continues independently.
Simultaneously, the scheme provides for the complete merger of wholly-owned subsidiary Thermax Cooling Solutions Limited into the parent company.
Because these entities are wholly-owned, no new equity shares will be issued, ensuring the shareholding pattern remains unaffected.
Read More: Mahindra & Mahindra Share Price in Focus After Q1 FY27 Earnings Results: Total Income Up 27.5% YoY!
As of July 31, 2026, at 11:26 AM, Thermax share price on NSE was trading at ₹3,925.50, down by 7.67% from the previous closing price.
Thermax Limited's financial results for the June 2026 quarter show a 6.6% YoY increase in total income to ₹2,370.92 crore, while net profit decreased by 85.6% YoY to ₹21.79 crore. The annual figures for FY26 reported a total income of ₹10,961.63 crore and a net profit of ₹720.26 crore.
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Published on: Jul 31, 2026, 12:13 PM IST
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