Thermax Limited. · NSE:THERMAX
Thermax — Q4 FY2024-25 Earnings Presentation
21 slides from Thermax's earnings presentation, May 9, 2025
Slide 1: Regulation 30 cover letter to stock exchanges
May 9, 2025 To The Secretary National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, PJ Towers, Dalal Street Bandra Kurla Complex, Mumbai: 400 001 Bandra (E) Company Scrip Code: 500411 Mumbai – 400 051 Company Scrip Code: THERMAX EQ Sub: Regulation 30 of the SEBI (LODR) Re
Slide 2: Thermax Limited: Investor Presentation Q4 FY 2024-2025
Thermax Limited: Investor Presentation Q4 FY 2024 - 2025 Conserving Resources, Preserving the Future.
Slide 3: Vision: globally respected high performance organisation
To be a globally respected high performance organisation offering sustainable solutions in energy and the environment 2 Conserving Resources, Preserving the Future.
Slide 4: Disclaimer
Disclaimer This presentation includes forward-looking information and statements, including those concerning the outlook for our businesses. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, encompassing global eco
Slide 5: Thermax at a Glance
Thermax at a Glance 7,854 Employees* Globally Installations in Sales and Service presence in 90+ Countries 30+ Countries Revenue 14 Manufacturing Rs. 10,389 crore Locations (10 in India, 4 International) Conserving Resources, Preserving the Future *Includes permanent employees, FTCs and excludes wor
Slide 6: Business Highlights – Industrial Products
Business Highlights – Industrial Products Meeting process cooling Desalination plant for a needs of a leading pharma company cement complex Commissioned a 3 x 6.5 MLD Recently commissioned two Seawater Reverse Osmosis double effect steam fired chillers (SWRO) desalination plant in of capacity 370 TR
Slide 7: Business Highlights – Industrial Infra
Business Highlights – Industrial Infra Major HRSG order for West African thermal power project Thermax Babcock and Wilcox Energy Solutions (TBWES) received a breakthrough order for two supplementary fired two-pressure-level heat recovery steam generators for a greenfield thermal power plant coming u
Slide 8: Business Highlights – Green Solutions
Business Highlights – Green Solutions Greening the power Organic manure (FOM) requirement of Tamil Nadu brands launched for and Gujarat institutional & retail sales 21 MW (7 WTG) wind energy is Thermax's TBSPL plants produced being progressively around 1,500 tonnes of fermented commissioned in the T
Slide 9: Business Highlights – Chemicals
Business Highlights – Chemicals Order win for Thermax Vebro Polymers Profit improvement in water treatment Order win from a leading chemicals market beverage industry player for a cement modified polyurethane First order received from flooring system. This is one of the Chemical Warehouse - Zimbabwe
Slide 10: Thermax Q4 FY 2024-25 Results
Thermax Q4 FY 2024-25 Results 2,119 cr. 10,693 cr. 3,085 cr. 301 cr. 206 cr. 2,843 cr. -8% 6% 12% 20% 10% 4% • No large order booked during the current quarter resulted into lower order book. Conserving Resources, Preserving the Future PBT – Before tax and exceptional items 9 Confidential and Intern
Slide 11: Thermax YTD FY 2024-25 Results
Thermax YTD FY 2024-25 Results 10,337 cr. 10,693 cr. 10,389 cr. 884 cr. 627 cr. 2,843 cr. 10% 6% 11% 2% -3% 4% • The results were affected by the recognition of higher technology intervention costs amounting to Rs. 66 crore in Bio-CNG projects under the Industrial Infra segment. Conserving Resources
Slide 12: Q4 – Order Book Status
Q4 – Order Book Status Paper & Pulp Others Refinery & 8% Power Petrochem 3% Food & 20% 3% Beverages 10% • Enquiry inflows from Power, BioCNG 3% F&B and Metals continue to remain strong Sugar/Distillery 4% • Large growth in order booking for Textiles F&B over Q3 however slowdown 4% in Sugar/Distiller
Slide 13: Consolidated Performance Indicators
Consolidated Performance Indicators Q3 2025 Performance Indicator Q4, 2025 Q4, 2024 YTD Mar 25 YTD Mar 24 2,296 Order Booking 2,119 2,309 10,337 9,355 11,383 Order Balance 10,693 10,111 10,693 10,111 2,508 Revenue 3,085 2,764 10,389 9,323 156 Profit Before Exceptional Item and Tax 301 251 884 793 6.
Slide 14: Consolidated Performance Summary by Segment
Consolidated Performance Summary by Segment Order Booking Order Balance Segment Q4 Mar. 2025 YOY% Change YTD Mar. 2025 YOY% Change Industrial Products 1010 -5% 4,154 19% Industrial Infra 903 -16% 5,434 -4% Green Solutions 21 608% 882 12% Chemicals 184 6% 222 60% Total 2,119 -8% 10,693 6% Conserving
Slide 15: Business Performance Summary
Business Performance Summary For Q4, FY 2024-25 For Q4, FY 2023-24 YTD Mar. 25 YTD Mar. 24 Segments Sales PBIT PBIT % Sales PBIT PBIT % Sales PBIT PBIT % Sales PBIT PBIT % Industrial 1,430 206 14.4% 1,207 141 11.7% 4,529 529 11.7% 4,055 397 9.8% Products Industrial 1,415 39 2.8% 1,356 82 6.1% 4,715
Slide 16: Business Segment Wise - Quarterly Trend
Business Segment Wise - Quarterly Trend Industrial Products Industrial Infra 1,600 250 2,000 100 1,400 1,800 Value in Rs. crore 80 Value in Rs. crore 1,200 200 1,600 1,000 1,400 60 150 PBIT 800 1,200 40 PBIT 600 100 1,000 800 20 400 50 200 600 - - - 400 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 200 (20) FY 24 FY 25 -
Slide 17: Domestic – Export Business Performance
Domestic – Export Business Performance FY 2023-24 YTD Mar FY 2024-25 Q4 FY 2024-25 201 483 298 489 92 92 Chemicals Chemicals Chemicals Order - - - Green Solutions 241 3,667 Green Solutions 225 Green Solutions 21 Book 432 2,643 1,668 859 Industrial Infra Industrial Infra Industrial Infra 44 3,309 3,4
Slide 18: Industry Outlook
Industry Outlook Input Cost Market Sentiments Demand • The average input costs for • The Manufacturing PMI for • Enquiry inflows from Power, Steel and Copper were up Q4 2024 indicates strong F&B and Metals continue to 2% during the quarter as market sentiment, driven by rising demand, increased rema
Slide 19: Highlights at Thermax
Highlights at Thermax • Quality Circle Forum of Indian (QCFI) Award – Thermax Chinchwad factory received Golden Award from Quality Circle Forum of Indian (QCFI) for continuous improvement in HSE, organised Kaizen Competition 2025. • Strengthening Impact in Indonesia – Thermax Strengthens Presence in
Slide 20: New Partnerships & Incorporations
New Partnerships & Incorporations • Partnership with OCQ for High-Performance Chemicals – Thermax Chemical Solutions Private Limited, a wholly-owned subsidiary of Thermax, has entered into an exclusive shareholder’s agreement with Oswaldo Cruz Química Indústria e Comércio Ltda (OCQ), one of the lead
Slide 21: Conserving Resources, Preserving the Future. Contact Us
Conserving Resources, Preserving the Future. For more information about Thermax: Contact Us Thermax Limited Thermax House 14, Mumbai - Pune Road, Wakdewadi, Pune - 411 003, India www.thermaxglobal.com