Thermax posts 82% jump in Q1 profit to Rs 1.09 billion
Energy and environment solutions provider Thermax reported an 82% increase in consolidated net profit, reaching Rs 1.09 billion in Q1 FY25, up from Rs 600 million the previous year, driven by higher revenues. Consolidated operating revenue rose by 13% to Rs 21.84 billion from Rs 19.33 billion in the same quarter last fiscal. The order booking for the quarter stood at Rs 25.69 billion, nearly unchanged from Rs 25.67 billion a year ago.
The board approved an additional equity investment of USD 2.8 million in Thermax (Thailand) Limited, through its subsidiary Thermax Engineering Singapore Pte Ltd. Additionally, a guarantee issuance of up to USD 4 million on behalf of Thermax (Thailand) Limited was approved.
Thermax also inaugurated a manufacturing factory in Pune for water and wastewater solutions, enhancing its capacity to meet the growing demand for water with superior engineered products. The company acquired a 51% stake in TSA Process Equipments, strengthening its offerings in highly purified water, ultra-pure water, and water for injectables.
To advance its chemicals business, Thermax incorporated a new wholly-owned subsidiary, Thermax Chemical Solutions Private Limited (TCSPL). TCSPL entered into a shareholders agreement with Vebro Polymers Holdings Ltd, forming Thermax Vebro Polymers India Pvt. Ltd. This partnership, with TCSPL holding 50.1% and Vebro Polymers 49.9%, aims to address the growing industrial and commercial flooring market and contribute to India’s infrastructure development.