Thermax Limited — PPTs, 02-02-2026: Investor Presentation

Thermax delivered a strong Q3 FY26, with Order Booking soaring 34% YoY to 3,080 Cr and Profit After Tax jumping an impressive 80% YoY to 205 Cr. Revenue saw a steady 4% YoY increase to 2,635 Cr.

The Industrial Infra segment was a standout, posting 68% YoY growth in Order Booking and a significant profit rebound due to operational efficiencies and strong export performance. Green Solutions also saw robust order growth, driven by sustainable initiatives.

The company is actively expanding into new growth areas, securing a major boiler order for a Nigerian refinery and tapping into the hyperscale data center market with cooling solutions. Other notable updates include the first biomass plant order in Congo and dispatch of the first cascade from the Prayagraj waste-to-CBG plant. Despite rising input costs for some commodities, the manufacturing outlook in India remains positive, with data centers and MENA region exports presenting promising future potential.