Heavy Electrical Equipment company Thermax announced Q1FY27 results Consolidated Financial Highlights: Revenue from Operations: Consolidated revenue for Q1FY27 reached Rs 2,302.73 crore, a growth of 6.73% YoY compared to Rs 2,157.53 crore in Q1FY26. Sequentially, it declined by 32.83% from Rs 3,428.04 crore in Q4FY26. Total Income: Total consolidated income was Rs 2,370.92 crore in Q1FY27, an increase of 6.65% YoY from Rs 2,223.16 crore in Q1FY26 and a decrease of 31.90% QoQ from Rs 3,481.75 crore in Q4FY26. Profit Before Tax (PBT): The consolidated PBT for Q1FY27 was Rs 42.14 crore, representing a significant decline of 80.07% YoY from Rs 211.47 crore in Q1FY26 and an 87.39% decrease QoQ from Rs 334.13 crore in Q4FY26. Net Profit: Net profit attributable to equity shareholders for Q1FY27 was Rs 25.24 crore, down by 83.44% YoY from Rs 152.38 crore in Q1FY26. On a QoQ basis, it decreased by 89.67% from Rs 244.28 crore in Q4FY26. Total Comprehensive Income: Total comprehensive income attributable to equity shareholders stood at Rs 54.25 crore in Q1FY27, a decrease of 69.90% YoY from Rs 180.24 crore in Q1FY26 and a 74.96% decrease QoQ from Rs 216.62 crore in Q4FY26. Standalone Financial Highlights: Revenue from Operations: The company reported a revenue of Rs 1,302.95 crore in Q1FY27, representing a YoY increase of 9.01% compared to Rs 1,195.21 crore in Q1FY26. On a QoQ basis, revenue decreased by 41.64% from Rs 2,232.48 crore in Q4FY26. Total Income: Total income for Q1FY27 stood at Rs 1,338.22 crore, up by 8.78% YoY from Rs 1,230.24 crore in Q1FY26 and down 40.93% QoQ from Rs 2,265.63 crore in Q4FY26. Profit Before Tax (PBT): The company recorded a loss before tax of Rs 24.38 crore in Q1FY27, compared to a profit of Rs 62.00 crore in Q1FY26 and a profit of Rs 252.30 crore in Q4FY26. Net Profit/Loss: Net loss for the period stood at Rs 18.10 crore in Q1FY27, compared to a net profit of Rs 46.52 crore in Q1FY26 and a net profit of Rs 201.08 crore in Q4FY26. Total Comprehensive Income: For Q1FY27, the company reported a total comprehensive loss of Rs 6.76 crore, compared to an income of Rs 48.00 crore in Q1FY26 and Rs 190.36 crore in Q4FY26. Earnings Per Share (EPS): Basic and diluted EPS for Q1FY27 was a negative Rs 1.52, compared to Rs 3.90 in Q1FY26 and Rs 16.88 in Q4FY26. Business Highlights: Order Book Performance: As of June 30, 2026, the consolidated order balance stood at Rs 14,045 crore, representing a growth of 23% compared to Rs 11,376 crore in Q1FY26. Order bookings for Q1FY27 were Rs 2,809 crore, up 2% YoY from Rs 2,748 crore. Segment-wise Revenue Performance (Consolidated): Industrial Products: Reported revenue of Rs 1,058.16 crore in Q1FY27, up from Rs 950.16 crore in Q1FY26. Industrial Infra: Reported revenue of Rs 814.15 crore in Q1FY27, compared to Rs 837.52 crore in Q1FY26. Green Solutions: Reported revenue of Rs 244.72 crore in Q1FY27, up from Rs 237.65 crore in Q1FY26. Chemicals: Reported revenue of Rs 229.53 crore in Q1FY27, up from Rs 173.18 crore in Q1FY26. Segment-wise Profit Performance (Consolidated PBT and Interest): Industrial Products segment profit was Rs 64.18 crore. Industrial Infra segment reported a loss of Rs 70.66 crore. Green Solutions segment reported a loss of Rs 16.85 crore. Chemicals segment profit was Rs 25.64 crore. Operational Realignments: The Group realigned Thermax Bioenergy Solutions Private Limited from the Industrial Infra segment to the Green Solutions segment following an organizational restructuring. Scheme of Arrangement: The Board approved a Composite Scheme of Arrangement for the merger of Thermax Cooling Solutions Limited and the demerger of the Bio-CNG EPC business from Thermax Bioenergy Solutions Private Limited into Thermax Limited, with an appointed date of April 1, 2026. Major Orders: During the quarter, the company secured an order valued at over Rs 400 crore for the supply of boiler pressure parts for a data center project in the USA. Result PDF
Conference Call with Thermax Management and Analysts on Q4FY26 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Heavy Electrical Equipment company Thermax announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from operations for Q4FY26 stood at Rs 3,428.04 crore, representing a YoY increase of 12.53% from Rs 3,046.40 crore in Q4FY25 and a QoQ increase of 30.11% from Rs 2,634.68 crore in Q3FY26. Total income for the quarter ended March 31, 2026, was Rs 3,481.75 crore, reflecting a growth of 11.48% YoY from Rs 3,123.25 crore and a growth of 29.08% QoQ from Rs 2,697.41 crore. Net profit after tax (PAT) for Q4FY26 was Rs 244.40 crore, an increase of 18.90% YoY compared to Rs 205.55 crore and a 19.21% QoQ increase from Rs 205.01 crore. Annual revenue from operations for the full year FY26 reached Rs 10,694.15 crore, up 3.13% from Rs 10,369.26 crore in FY25. Annual total income for FY26 stood at Rs 10,961.83 crore, compared to Rs 10,621.48 crore in FY25. Annual net profit after tax for FY26 reached Rs 720.26 crore, representing a growth of 14.93% over Rs 626.70 crore in FY25. Standalone Financial Highlights: Revenue from operations for Q4FY26 was Rs 2,225.85 crore, reflecting a YoY growth of 14.65% from Rs 1,941.50 crore and a QoQ growth of 39.20% from Rs 1,599.01 crore. Total income for Q4FY26 stood at Rs 2,258.81 crore, an increase of 13.10% YoY from Rs 1,997.15 crore and a 37.92% QoQ increase from Rs 1,637.71 crore. Net profit after tax for Q4FY26 was Rs 201.04 crore, representing a decline of 26.91% YoY from Rs 275.05 crore, though it grew 14.57% QoQ from Rs 175.48 crore. Annual revenue from operations for FY26 was Rs 6,518.26 crore, compared to Rs 6,244.53 crore in FY25. Annual net profit after tax for FY26 reached Rs 648.91 crore, an increase of 13.42% YoY from Rs 572.14 crore in FY25. Business Highlights Segment-wise Performance: Industrial Products: Recorded revenue of Rs 5,096.09 crore in FY26 compared to Rs 4,529.66 crore in FY25. Industrial Infra: Recorded revenue of Rs 4,348.05 crore in FY26 compared to Rs 4,694.45 crore in FY25. Green Solutions: Recorded revenue of Rs 732.24 crore in FY26 compared to Rs 689.88 crore in FY25. Chemicals: Recorded revenue of Rs 757.59 crore in FY26 compared to Rs 762.83 crore in FY25. Order Book: As of March 31, 2026, the consolidated order balance stood at Rs 13,604 crore, up 27% from Rs 10,693 crore in the previous year. Order booking for the quarter reached Rs 4,490 crore, a 112% increase compared to Rs 2,119 crore in Q4FY25. Major Order Win: Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a wholly-owned subsidiary, secured a boiler package supply contract worth approximately Rs 1,600 crore for a 1x800 MW ultra-supercritical thermal power plant in Central India. Dividend: The Board has recommended a final dividend of Rs 14 and a special dividend of Rs 6 (marking the company's 60th anniversary), totaling an aggregate dividend of Rs 20 per equity share of face value Rs 2 each (1000%) for FY26. Result PDF