Business Update Positive

2026-07-03 17:24

- Submitted the Business Responsibility and Sustainability Report (BRSR) for FY 2025-26. The company committed to a 50% absolute reduction in carbon emissions by FY 2030, a 5% reduction in freshwater consumption and waste generation by 2030, and limiting landfill disposal to below 5%.

Governance Positive

2026-07-03 17:23

- The 45th Annual General Meeting (AGM) of Thermax Limited will be held on Thursday, July 30, 2026, at 4:30 p.m. (IST) via Video Conferencing (VC) and Other Audio-Visual Means (OAVM). - The Board has recommended a final dividend of ₹20/- per equity share (₹14/- ordinary + ₹6/- special) for FY 2025-26. - The record date for the dividend is Friday, July 3, 2026, with payment by Tuesday, August 4, 2026. - Agenda includes adoption of financial statements, re-appointment of directors, and ratification of cost auditor remuneration.

Governance Negative

2026-06-30 18:21

CRITICAL RED FLAG DETECTED

- Mr. Kirtiraj Jilkar, Executive Vice President and BU Head – P&ES (Senior Management Personnel), has resigned from Thermax Limited. - His resignation is effective from the close of business hours on June 30, 2026, citing personal reasons.

Routine Neutral

2026-06-26 10:37

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Business Update Positive

2026-06-25 20:59

- Thermax Engineering Singapore Pte. Ltd. (TESPL), a wholly-owned subsidiary of Thermax Limited, incorporated a new 100% owned step-down subsidiary named Thermax Integrated Middle East L.L.C in Dubai on June 25, 2026. - The new entity will provide on-site project management, installation, erection, maintenance, and turnkey project contracting services, with a capital of AED 367,000.

Business Update Positive

2026-06-03 12:11

- NCLT Mumbai Bench sanctioned the Scheme of Merger by Absorption of Buildtech Products India Private Limited (wholly-owned subsidiary) with Thermax Limited on June 2, 2026. The order was received by the company on June 3, 2026. - The merger aims for business consolidation, operational efficiencies, synergies, and simplification of the group structure.

Business Update Neutral

2026-05-25 11:34

Thermax Limited announced that its officials will attend the Trinity India 2026 16th Annual Global Investor Conference, organized by 360 ONE (B&K), on May 28, 2026, in Mumbai. The company clarified that no Unpublished Price Sensitive Information (UPSI) will be shared during the meeting.

Financials Neutral

2026-05-21 18:04

Thermax Limited clarified inadvertent errors in standalone PBT and PAT figures for the quarter and year ended March 31, 2026. 'Other Income' was incorrectly reported as ₹32.86 crores instead of ₹32.96 crores, and some 'Other Expenses' were misclassified under 'Depreciation, depletion and amortization expense'. The company is submitting revised standalone financial results to correct the oversight.

Governance Positive

2026-05-20 18:18

Thermax Limited submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report confirms full compliance with all applicable SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other relevant SEBI regulations. It notes no non-compliances, no regulatory actions by SEBI or Stock Exchanges against the company or its promoters/directors/subsidiaries, and no resignations of statutory auditors during the review period.

Business Update Neutral

2026-05-12 10:30

Thermax Limited announced the availability of the transcript for its Analysts / Investors conference call for Q4 FY 2025-26, which was held on May 8, 2026. The transcript is now accessible on the company's website under the 'investors/quarterly-results' section.

Governance Positive

2026-05-08 18:30

Thermax Limited's Nomination and Remuneration Committee approved the grant of 17,812 stock options under the Thermax Employees Stock Option Plan 2021 (ESOP 2021) on May 8, 2026. Each option has an exercise price of Rs. 15.25 and will vest over three years (33% after 1st year, 33% after 2nd year, 34% after 3rd year from grant date), exercisable within five years from the date of vesting.

Business Update Neutral

2026-05-08 16:33

Thermax Limited announced the availability of the audio recording of its Investor Conference Call held on Friday, May 8, 2026, at 11:00 a.m. (IST). The recording can be accessed on the company's website under the quarterly results section.

Governance Negative

2026-05-08 11:01

CRITICAL RED FLAG DETECTED

Thermax Limited announced the sad demise of Dr. S.B. (Ravi) Pandit, a Non-Executive Independent Director of the company, on Friday, May 8, 2026. Dr. Pandit had been serving on the Board since 2017, and the company expressed deep sorrow, acknowledging his significant contributions and leadership.

Financials Positive

2026-05-07 18:23

Consolidated Revenue ₹3,428.04 Cr vs ₹3,046.40 Cr (▲12.5% YoY), EBITDA ₹376.78 Cr vs ₹300.38 Cr (▲25.4% YoY), PAT ₹244.28 Cr vs ₹205.73 Cr (▲18.7% YoY). EBITDA Margin 11.0% vs 9.9% (▲110bps). The Board also recommended a final dividend of Rs. 14/- and a special dividend of Rs. 6/- per share, totaling Rs. 20/- per share for FY2025-26. Additionally, the re-appointment of Dr. Ravi Shankar Gopinath as Non-Executive Independent Director and the appointment of Ms. Kavita Singh as Chief Human Resources Officer were approved.

Financials Neutral

2026-05-07 18:18

Consolidated Revenue ₹1,481.54 Cr vs ₹1,697.87 Cr (▼13% YoY), EBITDA ₹328.82 Cr vs ₹356.36 Cr (▼8% YoY), PAT ₹244.28 Cr vs ₹268.93 Cr (▼9% YoY). EBITDA Margin 22.19% vs 20.99% (▲120bps). The Board also recommended a total dividend of Rs. 20/- per equity share (Rs. 14 final + Rs. 6 special) for the financial year 2025-26.

Financials Positive

2026-05-07 18:13

Consolidated Revenue ₹3,428.04 Cr vs ₹3,046.40 Cr (▲12.52% YoY), EBITDA ₹376.78 Cr vs ₹300.38 Cr (▲25.43% YoY), PAT ₹244.28 Cr vs ₹205.73 Cr (▲18.73% YoY). EBITDA Margin 10.99% vs 9.86% (▲113bps). The Board also recommended a total dividend of Rs. 20/- per share (Rs. 14/- final + Rs. 6/- special) for FY2025-26.

Financials Positive

2026-05-07 18:11

Consolidated Revenue ₹3,428.04Cr vs ₹3,046.40Cr (▲12.5% YoY), EBITDA ₹376.78Cr vs ₹300.38Cr (▲25.4% YoY), PAT ₹244.28Cr vs ₹205.73Cr (▲18.7% YoY). EBITDA Margin 11.0% vs 9.9% (▲113bps). The Board also recommended a total dividend of Rs. 20/- per share (Rs. 14/- final + Rs. 6/- special) for FY 2025-26.

Financials Positive

2026-05-07 17:59

Consolidated Revenue ₹3,428.04Cr vs ₹3,046.40Cr (▲12.53% YoY), EBITDA ₹376.78Cr vs ₹300.38Cr (▲25.43% YoY), PAT ₹244.28Cr vs ₹205.73Cr (▲18.74% YoY). EBITDA Margin 11.0% vs 9.9% (▲110bps). The Board recommended a final dividend of Rs. 14/- and a special dividend of Rs. 6/-, totaling Rs. 20/- per share.

Business Update Neutral

2026-05-04 15:53

Thermax Limited announced an Analysts/Investors conference call to discuss its financial results for the quarter and year ended March 31, 2026. The call is scheduled for Friday, May 8, 2026, at 11:00 a.m. (IST), with Mr. Rajendran Arunachalam (Group CFO & EVP) from Thermax's management participating.

THERMAX

Thermax Limited

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