Thermax earnings calls.
Other · 8 quarters tracked · source-linked performance, management guidance and promise context.
Latest revenue
₹3,428 Cr
verified financial record
Quarters tracked
8
source records in the directory
Delivery assessment
0
Across 20 tracked commitments: 0 delivered, 20 missed.
Call date
2026-04-28
latest available source date
Signal trajectory
8 actual quartersCurrent read
0/100
Across 20 tracked commitments: 0 delivered, 20 missed.
Latest source read
What changed this quarter?
Thermax reported a strong Q4 FY26, with revenue execution improving over prior quarters and a robust order book boosted by a ₹1,600 crore supercritical boiler order from the private sector. The order book closed 27% higher YoY, providing good revenue visibility. Management highlighted a healthy pipeline across traditional sectors (steel, cement, oil & gas) and emerging opportunities in data center cooling and steam solutions. However, they flagged risks from commodity price inflation (steel, copper, styrene) and potential Middle East conflict impacts on supply chains and customer capex. The green solutions segment faced a cost overrun on a wind-solar project due to contractor failure, but legacy low-margin orders are largely closed. Management guided for regular capex of ₹150 crore plus ₹100 crore for capacity expansions. Key risk: raw material cost pressures may compress margins in the industrial products segment in coming quarters.
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Signal
Positive
Revenue
₹3,428 Cr
Source date
2026-04-28
Across the record
Quarter history.
History modules