Thermax Limited has informed the Exchange regarding Change in Auditors of the company.
THERMAX · price
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Awaiting price reaction for this filing.
Thermax's board on May 9, 2025 approved audited Q4 and FY25 results. Consolidated revenue for FY25 rose to Rs. 10,388.69 crore (vs Rs. 9,323.46 crore last year), but net profit slipped marginally to Rs. 626.70 crore from Rs. 643.19 crore; standalone net profit grew to Rs. 572.14 crore. The board recommended a 700% dividend of Rs. 14 per share, with record date July 4, 2025. Mr. Ashish Bhandari was re-appointed as MD & CEO for another five years (Sept 2025 to Aug 2030), and marquee industrialist Harsh Mariwala was appointed as Lead Independent Director. M/s. Makarand M. Joshi & Co was named Secretarial Auditor for five years, while Chief Internal Auditor Satish Jayaram stepped down due to an internal role change and was replaced by Tushar Dahale.
Solid revenue growth, a generous 700% dividend, and continuity at the top with Bhandari's re-appointment should be viewed positively by shareholders. The addition of Harsh Mariwala as Lead Independent Director and routine auditor refresh strengthen governance optics. The minor YoY dip in consolidated profit and an ongoing Rs. 218.45 crore arbitration matter (partly provided) are minor watchpoints.