India's Thermax posts quarterly profit fall due to cost pressure

Thermax

30/07/2026 12:39

July 30 (Reuters) - Indian engineering firm Thermax THMX.NS reported an 83.4% slump in first-quarter profit on Thursday, hurt by rising raw material and operating costs amid intensifying competition from larger diversified rivals.

Here are some more details:
Thermax reported a consolidated net profit of 252.4 million rupees ($2.64 million) for the quarter ended June 30, down from 1.52 billion rupees a year earlier.
Manufacturers globally are grappling with elevated input costs, exacerbated by the Middle East conflict and supply chain disruptions, forcing firms to balance margin protection against the risk of losing market share to larger rivals.
Total expenses rose 15.8% in the quarter to 23.29 billion rupees, from 20.12 billion rupees last year.
Thermax's revenue from operations increased 6.7% to 23.03 billion rupees, driven by a rise of 11.4% in its industrial products business, the company's largest segment.
Thermax manufactures boilers, heaters, air pollution control systems, cooling and water treatment equipment, and also offers green energy, chemicals and infrastructure solutions to industrial clients.
Revenue from the industrial infrastructure segment, Thermax's second-largest business, fell 2.8% from a year ago.
Shares of Thermax closed down 2.9%, but are up 40.6% so far this year.


($1 = 95.6800 Indian rupees)

 (Reporting by Abhinav Parmar in Bengaluru; Editing by Eileen Soreng)
 ((Abhinav.Parmar@thomsonreuters.com;))