Thermax: revenue up 11% but Q2 profit falls on costs and impairment
Thermax reported 11% revenue growth in Q2 and a 16% rise in order backlog, while net profit fell 5% on cost pressures and a project write-down.
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what happened
Thermax posted Q2 consolidated revenue up 11% year on year to Rs 2,756 crore, according to TradingView. Profit before tax fell 3% and profit after tax fell 5%. Product mix, higher input costs in the Industrial Products segment and a Rs 15 crore impairment on a renewable-energy project weighed on profitability.
The order backlog grew 16%, though new bookings declined 8%.
why it matters
The picture is mixed: sales and backlog growth point to demand, while margin pressure and the impairment show costs eating into earnings. A backlog rising while bookings fall suggests new orders are arriving more slowly than the backlog is growing, so the full report is needed for firmer conclusions.
market impact
Thermax shares: revenue and backlog growth offset by cost pressure and impairment
- Thermax shares mixed — revenue and backlog growth offset by lower profit and bookings
tags
instruments
sources
- THERMAX: Revenue and backlog grew, but Q2 profit fell amid cost pressures and a project impairment — TradingView, 5 November 2026 at 12:33 UTC
- THERMAX: Revenue rose 11%, but Q2 profit fell amid cost, mix and impairment pressures — TradingView, 5 November 2026 at 12:55 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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