THERMAX Thermax Q4 FY25 results (Jan–Mar 2025) and concall
Thermax reported a mixed Q4 FY25, achieving INR 3,000 crores in revenue and maintaining overall profitability despite a significant INR 85 crore hit from its bio-CNG business. While Industrial Products performed strongly with a 14.4% EBIT margin and a 20% higher backlog, the company missed its order inflow targets. Management is focused on learning from past project challenges, particularly in bio-CNG and FGD, and is cautiously pursuing new orders with revised guarantees.
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What they filed
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 |
|---|---|---|---|
| Revenue | 1,523 | 1,469 | 1,942 |
| EBITDA | 127 | 110 | 212 |
| Net profit | 108 | 103 | 275 |
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.
