Energy & environment solutions provider Thermax Ltd on Thursday (November 5) reported a 4.2% year-on-year decline in consolidated net profit to ₹115 crore for the second quarter of FY27, compared with ₹120 crore in the corresponding quarter last year.
Revenue increased 11.4% to ₹2,756 crore from ₹2,474 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 12.8% to ₹194 crore from ₹172 crore.
The EBITDA margin remained flat at 7% year-on-year. Profit before tax (PBT) declined 3% to ₹169 crore from ₹174 crore.
ALSO READ | Thermax shares jump over 5%; Kotak sees upside on data center, biogas opportunity
The company said quarterly profitability was affected by the product mix and higher input costs in the Industrial Products segment. It was also impacted by a ₹15 crore impairment provision for one of the hybrid renewable energy projects in the Green Solutions segment, arising from events identified during the quarter.
Thermax’s consolidated order balance stood at ₹14,250 crore as of September 30, 2026, up 16% from ₹12,300 crore in the corresponding quarter last year. Order booking during the quarter declined 8% to ₹3,259 crore from ₹3,551 crore.
Standalone performance
On a standalone basis, Thermax reported operating revenue of ₹1,712 crore, up 13% from ₹1,510 crore in the year-ago quarter. Profit after tax increased 16% to ₹263 crore from ₹226 crore.
ALSO READ | Thermax sees data center cooling business doubling as AI investments grow
Standalone order booking rose 21% to ₹2,405 crore from ₹1,991 crore in the corresponding quarter last year. The standalone order balance as of September 30, 2026, stood at ₹7,141 crore, up 2% from ₹6,981 crore a year earlier.
During the quarter, Thermax launched its Thermax-i series of intelligent boilers and heaters at Boiler India 2026. The series is designed to continuously optimise performance as operating conditions change.
The first product in the series, UltraPac-i, is a biomass-fired boiler designed to anticipate variations in fuel characteristics. Pilot installations have demonstrated fuel savings of up to 10%, with the potential to lower operating costs and associated carbon emissions.
Shares of Thermax Ltd ended at ₹3,311.00, up by ₹30.05, or 0.92%, on the BSE.
ALSO READ | Thermax Q1 profit plunges 83% as margins collapse despite higher revenue