Thermax Records Robust Q1 Growth, Expands Global Presence

Thermax, an energy and environment solutions provider, reported an 82% increase in net profit to Rs 109 crore for Q1 FY25 due to higher revenues. The company also saw a 13% rise in operating revenue. It made strategic investments and acquisitions to bolster its water solutions and chemicals businesses.

Energy and environment solutions provider Thermax on Thursday posted an impressive 82 per cent jump in its consolidated net profit, reaching Rs 109 crore from Rs 60 crore in the same period last year. This surge is attributed to higher revenues.

The company reported a consolidated operating revenue of Rs 2,184 crore for the first quarter of FY25, marking a 13 per cent increase from Rs 1,933 crore in the corresponding quarter of the previous fiscal, according to an official statement.

Order bookings for the quarter stood at Rs 2,569 crore, nearly unchanged from Rs 2,567 crore a year ago.

The Thermax board has greenlit an additional equity investment of USD 2.8 million in its step-down subsidiary, Thermax (Thailand) Limited, through Thermax Engineering Singapore Pte Ltd. (TESPL), along with a guarantee issuance worth USD 4 million.

Thermax inaugurated a manufacturing factory in Pune for water and wastewater solutions, aiming to better serve customers and meet rising water demand. Furthermore, the company acquired a 51 per cent stake in TSA Process Equipments, enhancing its ability to deliver comprehensive water purification solutions.

Focusing on its chemicals business, Thermax formed a new wholly-owned subsidiary, Thermax Chemical Solutions Private Limited (TCSPL). TCSPL partnered with Vebro Polymers Holdings Ltd to establish Thermax Vebro Polymers India Pvt. Ltd., targeting the expanding industrial and commercial flooring market and contributing to India's infrastructure growth.

(With inputs from agencies.)