Thermax reported consolidated net profit of Rs 115.81 crore in Q1 FY25, registering a growth of 96.68% as against with Rs 58.88 crore posted in Q1 FY24.
Revenue from operations stood at Rs 2,184.41 crore during the quarter, grew by 13.01% year on year.Profit before tax (PBT) was at Rs 161.31 crore in Q1 FY25, up 76.35% as against with Rs 91.47 crore posted in Q1 FY24.
The companys revenue from industrial products business stood at Rs 960.80 crore (up 14.94% YoY), revenue from industrial infra business was at Rs 925.07 crore (up 0.96% YoY), green solutions business revenue was at Rs 173.74 crore (up 53.54% YoY) while chemical business revenue came at Rs 170.83 crore (up 6.27% YoY) during the period under review.
The order balance for the quarter was Rs 10,681 crore, up by 2% from Rs 10,505 crore posted in the corresponding quarter previous year. The order booking for the quarter was marginally up to Rs 2,569 crore as against Rs 2,567 crore reported in Q1 FY24.
On standalone basis, the companys net profit soared 95.94% to Rs 85.98 crore in Q1 FY25 as against with Rs 43.88 crore posted in Q1 FY24. Revenue from operations was at Rs 1,310.95 crore during the quarter, up 12.95% year on year.
During the quarter, the company unveiled a manufacturing factory in Pune for water and wastewater solutions. This is a significant move to serve its customers better by delivering superior engineered products to meet the growing demand for water.
Meanwhile, the company acquired a 51% stake in TSA Process Equipments, enhancing its ability to offer end-to-end solutions for highly purified water, ultra-pure water, and water for injectables across fast-growing industries. With a focus on advancing the chemicals business, the Company recently announced the incorporation of a new wholly-owned subsidiary, Thermax Chemical Solutions (TCSPL).
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TCSPL entered into a shareholders agreement with Vebro Polymers Holdings., forming Thermax Vebro Polymers India. The partnership based on a 50.1% TCSPL and 49.9% Vebro Polymers ownership aims to meet the demands of the growing industrial and commercial flooring market and contribute to India's developing infrastructure landscape.
Further, the board has approved additional equity investment of $2.8 million in Thermax (Thailand), a step-down subsidiary of the company through Thermax Engineering Singapore (TESPL), subsidiary of the company.
Lastly, the board has approved issuance of guarantee for an amount not exceeding $4 million on behalf of Thermax (Thailand).
Thermax, a leading energy and environment solutions provider, is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. Thermax has manufacturing facilities in India, Europe and Southeast Asia.
Shares of Thermax declined 1.44% to currently trade at Rs 5,101.30 on the BSE.
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