THERMAX Thermax Q1 FY27 results (Apr–Jun 2026) and concall
Thermax Limited reported a challenging Q1 FY27 with only 7% revenue growth, primarily due to a significant INR 91 crore cost-to-completion hit on a legacy government project and INR 300 crore shipping delays in Industrial Products. Despite these setbacks and losses in FEPL and Bio-CNG, management expressed bullishness for the full year, citing a strong and growing order backlog, promising pipelines in international markets, data centers, and green solutions. The company is actively cleaning up its legacy project book, focusing on profitable orders, and expects significant profitability improve
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What they filed
Q1 FY27: revenue up 9.0%, net profit down 138.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,523 | 1,469 | 1,942 | 1,195 | 1,505 −1% | 1,599 +9% | 2,232 +15% | 1,303 +9% |
| EBITDA | 127 | 110 | 212 | 54 | 106 −17% | 139 +26% | 246 +16% | -28 −152% |
| Net profit | 108 | 103 | 275 | 47 | 226 +109% | 175 +70% | 201 −27% | -18 −138% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
