Thermax Q1 Net Profit Dips 85% to Rs 22 Cr

New Delhi, Jul 30 (PTI) Energy & environment solutions provider Thermax on Thursday reported an 85 per cent on-year decline in net profit to Rs 22 crore in the June quarter on cost overrun in its Industrial Infra segment and rising expenses.

The company's consolidated profit after tax was at Rs 151 crore in Q1 FY26, a company statement said.

It explained that the current quarter's results were impacted by a Rs 91 crore increase in the estimated cost to complete one specific project in the Industrial Infra segment, arising from events identified during the quarter.

In addition, it stated that the corresponding quarter of the previous financial year included Rs 56 crore income under the Package Scheme of Incentives for a subsidiary in the Industrial Infra segment.

Lower export sales also impacted the profitability of the Industrial Products segment during the current quarter, it stated.

The company stated that it recorded a consolidated operating revenue of Rs 2,303 crore in the first quarter of FY 2026-27, a 7 per cent increase as compared to Rs 2,158 crore in the corresponding quarter of the previous fiscal year.


As of June 30, 2026, the order balance for the quarter was Rs 14,045 crore (Rs 11,376 crore in the year-ago quarter), up 23 per cent from the corresponding quarter of the previous year.

The order booking for the quarter stood at Rs 2,809 crore, up by 2 per cent.

During the quarter, the company secured an order worth more than Rs 400 crore for the supply of boiler pressure parts for a data centre project in the USA.

Order booking in the Green Solutions Segment has increased due to a combination of improved order inflow at Thermax Onsite Energy Solutions Ltd (TOESL) and a change in its order book reporting methodology.

TOESL has moved to a rolling 12-month forecast model for reporting its order book, replacing the earlier approach of recognising only the first year's revenue from long-term contracts.

As a result, the reported order book has increased by Rs 139 crore (5 per cent), with no change to underlying contracts, revenue recognition, or financial performance.