Thermax Limited. · NSE:THERMAX
Thermax — Q1 FY2026-27 Earnings Presentation
19 slides from Thermax's earnings presentation, Jul 31, 2026
Slide 1: Revised Investor Presentation cover letter to exchanges
July 31, 2026 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 (Listin
Slide 2: Thermax Limited: Investor Presentation Q1 FY 2026-2027
Thermax Limited: Investor Presentation Q1 FY 2026 - 2027 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 9,291 Employees*, Globally Installations in Sales and Service Presence in 90+ Countries 30+ Countries Revenue 18 Manufacturing Rs.10,694 crore Locations (14 in India, 4 International) Conserving Resources, Preserving the Future *Includes permanent employees, FTCs, and permanent w
Slide 6: Business Highlights – Industrial Products
Business Highlights – Industrial Products Engineered compact and Strengthening efficient Zero Liquid decarbonisation in Sri Lankan Discharge solutions for rubber processing industry India's leading auto Dipped Products Limited (DPL), component manufacturer Sri Lanka successfully Supplied a standalon
Slide 7: Business Highlights – Industrial Infra
Business Highlights – Industrial Infra TBWES secures CFBC boiler order for captive power project in India’s steel sector TBWES will supply a large CFBC boiler for a captive power project in East India, designed to fire dolochar and Indian coal. The order covers design, engineering, manufacturing, su
Slide 8: Business Highlights – Green Solutions
Business Highlights – Green Solutions TOESL enables green steam Greening the power solutions for a global leader requirement of Tamil Nadu in natural ingredient 12 out of 17 WTGs and solutions transmission completed for the 60 TOESL commissioned a 12 TPH MW Trichy project. The 100 MW biomass boiler
Slide 9: Business Highlights – Chemicals
Business Highlights – Chemicals Water treatment chemicals – balancing pricing and demand dynamics Gross margins remained resilient at an average 14% price realisation, while new business wins of Rs. 5 crore in the Power segment helped offset volume softness across key end-user industries, particular
Slide 10: Thermax Q1 FY 2026-27 Results
Thermax Q1 FY 2026-27 Results 2,809 14,045 2,303 42 22 3,231 2% 23% 7% 80% 86% 2% • Order booking and balance for the current year is higher primarily driven by improved performance in TBWES, Industrial Products and Green Solutions. • The lower profit for the quarter was predominantly due to the one
Slide 11: Q1 – Order Book Status
Q1 – Order Book Status Textiles Paper and Pulp Others 2% 4% 4% Power 7% Food & Beverages Refinery & Petrochem 10% 2% • Order booking grew 2% Data Centers Chemicals to Rs. 2809 crore. 17% 18% • Consistent order demand continues across the chemicals, F&B and metal & mining sectors. • Data centres are
Slide 12: Consolidated Performance Indicators
Consolidated Performance Indicators Q4, FY26 Performance Indicator Q1, FY27 Q1, FY26 4,490 Order Booking 2,809 2,749 13,604 Order Balance 14,045 11,376 3,428 Revenue 2,303 2,158 332 PBT Before Exceptional Items and Tax 42 211 9.7% PBT Before Exceptional Item and Tax % 1.8% 9.8% 2 Exceptional Item Ga
Slide 13: Consolidated Performance Summary by Segment
Consolidated Performance Summary by Segment Order Booking Order Balance Segment Q1, FY27 YOY% Change Q1, FY27 YOY% Change Industrial Products 1,394 8% 5,370 16% Industrial Infra 863 24% 6,887 31% Green Solutions 382 149% 1,568 17% Chemicals 169 1% 220 45% Total 2,809 2% 14,045 23% • During the quart
Slide 14: Business Performance Summary
Business Performance Summary For Q1, FY27 For Q1, FY26 Segments Sales PBIT PBIT % Sales PBIT PBIT % Industrial 1,058 64 6.1% 950 79 8.3% Products Industrial Infra 814 (71) -8.7% 838 83 9.9% Chemicals 230 26 11.2% 173 16 9.3% Total 2,102 18 0.9% 1,962 179 9.1% Sales PBT PBT % Sales PBT PBT % Green 24
Slide 15: Business Segment Wise - Quarterly Trend
Business Segment Wise - Quarterly Trend Industrial Infra Industrial Products 3,000 120 100 1,800 250 Value in Rs. crore 2,500 80 1,600 Value in Rs. crore 1,400 200 2,000 60 1,200 40 PBIT 150 PBIT 1,000 1,500 20 800 100 - 600 1,000 (20) 400 50 (40) 200 500 - - (60) Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 - (80) Q2 Q
Slide 16: Domestic – Export Business Performance
Domestic – Export Business Performance FY 2025-26 YTD Jun FY 2026-27 270 535 22 147 Chemicals 66% Chemicals 87% 9 - 1,145 Order Green Solutions 1% Green Solutions 0% 382 4,040 1,887 363 500 Book Industrial Infra 32% Industrial Infra 58% 2,066 560 Industrial Products 35% Industrial Products 40% 3,918
Slide 17: Industrial Infra Segment – Key Metrics
Industrial Infra Segment – Key Metrics REVENUE MIX >100 crore Change in margin Industrial Infra projects (from as sold) project count 11% 11% 15% 14% 13% 16% 14% 14% 20% >0% to <5% 6 8% 10% Export >5% 7 23% 13% 3% 21% 21% 17% 26% Total 13 27% 9% 28% 23% 27% <-5% 3 12% 18% 22% 9% >-5% to <0% 5 Privat
Slide 18: Industry Outlook
Industry Outlook Input Cost Market Sentiments Demand During Apr–Jun 2026, flat and India's Manufacturing PMI structural steel prices, tubes • Data center investment is remained firmly above the 50 accelerating, reinforcing and pipes hardened due to expansion mark during Q1 FY27 demand for reliable p
Slide 19: Conserving Resources, Preserving the Future.
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