Q1-FY26 · Q3 FY25
Q4 FY25 Revenue Target: INR 3,000+ crore
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
THERMAX / Q2-FY26 / promises
Measure what management said.
Thermax · A quarter-by-quarter view of forward statements and whether delivery is visible yet.
Research layer active
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Management delivery ledger
Promises over time.
Q1-FY26 · Q3 FY25
Project Business Profitability: 5%+ Next Year
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
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Q1-FY26 · Q3 FY25
Bio-CNG Order Resumption: H2 FY26
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
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Q1-FY26 · Q3 FY25
International Revenue Potential: INR 2,000-3,500 crore
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
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Q2-FY25 · Q1 FY25
Industrial Infra margin improvement in ensuing quarters
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
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Q2-FY25 · Q1 FY25
Double-digit growth in Industrial Products for FY25
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q2-FY25 · Q1 FY25
Chemicals business targeting INR 200-250 crore run rate
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q2-FY25 · Q1 FY25
Thermal power orders expected in H2 FY25
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
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Q2-FY26 · Q1 FY26
Order Inflow Growth: Targeting Double-Digit Growth
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q2-FY26 · Q1 FY26
Chemicals Margin Recovery to 12-13% in Q2
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q2-FY26 · Q1 FY26
International Orders: Targeting INR 1,000+ Crore
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q3-FY25 · Q2 FY25
Renewable Energy Capacity Expansion: 600 MW by FY25, 1 GW by FY28
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q3-FY25 · Q2 FY25
Industrial Infra Q3-Q4 Margin Improvement Expected
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q3-FY26 · Q2 FY26
20%+ Order Book Growth for FY26
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q3-FY26 · Q2 FY26
Q3 Revenue Catch-Up
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q3-FY26 · Q2 FY26
Chemicals Business to Reach INR 250cr Quarterly Orders
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q4-FY25 · Q3 FY25
Q4 FY25 Revenue Target: INR 3,000+ crore
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q4-FY25 · Q3 FY25
Project Business Profitability: 5%+ Next Year
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q4-FY25 · Q3 FY25
Bio-CNG Order Resumption: H2 FY26
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q4-FY25 · Q3 FY25
International Revenue Potential: INR 2,000-3,500 crore
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q4-FY26 · Q3 FY26
Q4 Revenue: Double-digit growth vs Q4 last year
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q4-FY26 · Q3 FY26
Chemicals profitability recovery to 13-14% EBITDA
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q4-FY26 · Q3 FY26
Industrial Infra legacy issues resolution by Q2 FY27
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
heuristic_v1
Q4-FY26 · Q3 FY26
CapEx investments in cooling/TBW capacity
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
missed
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