Revenue from operations increased 6.73% YoY to Rs 2,302.73 crore in Q1 FY27.
Profit before tax (PBT) declined 80.07% YoY to Rs 42.14 crore in Q1 FY27.
Order inflows remained resilient, with order booking rising 2% YoY to Rs 2,809 crore in Q1 FY27. The company's order backlog stood at Rs 14,045 crore as of 30 June 2026, up 7% from the year-ago period, providing healthy revenue visibility.
Among business segments, revenue from the Industrial Products segment grew 11.37% YoY to Rs 1,058 crore. Revenue from the Industrial Infrastructure segment declined 2.86% YoY to Rs 814 crore, while the Chemicals segment posted a strong 32.95% YoY growth to Rs 230 crore. Revenue from the Green Solutions segment rose 2.94% YoY to Rs 245 crore during the quarter.
Meanwhile, the board of directors has approved a Scheme of Arrangement and Amalgamation involving Thermax Bioenergy Solutions (TBSPL), Thermax Cooling Solutions (TCSL) and Thermax.
Under the proposed scheme, the assets and liabilities of the demerged EPC undertaking of TBSPL will be transferred to Thermax and recorded at their respective carrying values. The demerger is aimed at consolidating similar businesses within the company, as the EPC undertaking is aligned with Thermax's core operations.
Further, the entire assets and liabilities of TCSL will be transferred to Thermax at their respective carrying values. The amalgamation is intended to simplify the group's corporate structure, reduce administrative overheads and improve key financial ratios. Upon implementation of the scheme, all inter-company investments and balances between TCSL and Thermax will stand cancelled.
Thermax is an energy and environment solutions company focused on supporting the energy transition. Its portfolio spans clean air, clean energy, clean water and chemical solutions. The company operates 16 manufacturing facilities across India, Europe and Southeast Asia and has more than 45 Indian and international subsidiaries.
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