Thermax, a leading provider of energy and environmental solutions, reported a 25% rise in its consolidated profit after tax (PAT) for the second quarter of FY 2024-25, reaching Rs 198 crore, compared to Rs 159 crore in the same period last year. The company also posted a 13% increase in operating revenue, amounting to Rs 2,612 crore, up from Rs 2,302 crore in Q2 of FY 2023. The strong performance was partially boosted by Rs 66 crore in income under the Packaged Incentive Scheme (PSI) from the Government of Maharashtra.
As of September 30, 2024, Thermax’s order balance for the quarter stood at Rs. 11,593 crore, a 13% increase from Rs. 10,264 crore in the same period last year. The company recorded order bookings of Rs. 3,353 crore, reflecting a 70% rise compared to Rs. 1,973 crore in the previous year. During this period, Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a wholly owned subsidiary, secured orders worth Rs. 1,029 crore for energy projects from a major industrial group in Botswana, Southern Africa.
On a standalone basis, Thermax Limited reported an operating revenue of Rs. 1,519 crore, up 5% from Rs. 1,444 crore in Q2 FY 2023. The company’s profit after tax (PAT) for the quarter was Rs. 108 crore, marking a 69% increase from Rs. 64 crore in the same period last year. The previous year’s profit was adversely affected by an exceptional item of Rs. 73 crore due to impairment on an investment in an Indonesian subsidiary.
The order booking for Thermax Limited rose by 22% to Rs. 1,638 crore, compared to Rs. 1,347 crore in the previous year. However, the order balance as of September 30, 2024, stood at Rs. 6,424 crore, down by 3% from Rs. 6,636 crore year-on-year.
Thermax, a leading player in the energy and environment sector, offers solutions in clean air, clean energy, water, and chemicals. The company’s expertise in audit, consulting, execution, and digital solutions ensures a comprehensive approach to energy and environmental management. Thermax operates 14 manufacturing facilities across India, Europe, and Southeast Asia, with 44 subsidiaries globally.
