Thermax Q4 FY26 Investor Presentation: Order Booking Up 112% to ₹4,490 Cr
Thermax Limited's Q4 FY26 investor presentation shows a 112% YoY rise in order booking to ₹4,490 crore, driven by Industrial Products and Infra segments. Revenue grew 13% to ₹3,428 crore. The company secured a significant ₹1,600 crore boiler order. PAT was ₹244 crore. The Board recommended a ₹14 dividend plus a ₹6 special dividend.
The significant increase in order booking, securing a large order for a power plant, and the substantial dividend announcement are material events that are likely to have a high impact on investor sentiment and the company's financial outlook.
The company reported strong growth in order booking and revenue, secured a large order, and announced a dividend, indicating positive financial performance and shareholder returns.
Thermax Limited has released its Investor Presentation for Q4 FY 2025-26, detailing significant business highlights and financial performance.
The company reported a substantial increase in order booking, which grew by 112% year-on-year to ₹4,490 crore in Q4 FY26. This growth was primarily driven by strong performance in the Industrial Products and Industrial Infra segments. Notably, the company secured a boiler package order valued at approximately ₹1,600 crore for an 800 MW ultra-supercritical thermal power plant in Central India. Order balance also saw a healthy increase of 27% to ₹13,604 crore.
Revenue for the quarter stood at ₹3,428 crore, a 13% increase year-on-year. Profit Before Tax (PBT) before exceptional items was ₹332 crore, up 11% from the previous year. The company's consolidated PBT for Q4 FY26 was ₹334 crore, with a PBT margin of 9.7%. Profit After Tax (PAT) for the quarter was ₹244 crore, a 5% increase year-on-year, with a PAT margin of 7.1%.
Segment-wise, Industrial Products saw a 60% increase in order booking to ₹1,512 crore, and Industrial Infra reported a 152% surge to ₹2,433 crore. Green Solutions also experienced a significant jump in order booking by 1398% to ₹317 crore, attributed partly to a change in its order book reporting methodology. Chemicals segment order booking grew by 24% to ₹228 crore.
Business performance highlights include the commissioning of various projects such as a biomass-fired boiler for a battery manufacturing facility, hot water driven chillers for a data center in the US, and a waste-to-energy boiler in North India. The company also secured a boiler package order for a thermal power project and commissioned a 2x15 MW cogeneration plant. Significant progress was made in CBG production, with ~8,000 tonnes produced in Q4 FY26.
Thermax also highlighted several key initiatives and recognitions. These include the launch of new websites for Thermax Chemicals and the global Thermax website, receiving the LACP Vision Award for its FY 2024-25 Annual Report, and the NSCI Safety Award for its Sri City facility. The company was also recognized by Frost & Sullivan for its Zero Liquid Discharge Customer Value Leadership. The Board recommended a dividend of ₹14 per share for FY 2025-26, along with a special dividend of ₹6 per share to mark the company's 60th anniversary.
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Thermax Limited filed this with the NSE as a statutory disclosure, categorised under investor presentation. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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