Thermax Limited has informed the Exchange regarding Change in Auditors of the company.
THERMAX · price
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Thermax Limited's board approved audited consolidated revenue of Rs. 10,388.69 crore for FY25 (up from Rs. 9,323.46 crore in FY24), with consolidated net profit of Rs. 626.70 crore, slightly lower than Rs. 643.19 crore in FY24. Q4 FY25 consolidated revenue grew to Rs. 3,084.93 crore with net profit of Rs. 205.55 crore. The board recommended a dividend of Rs. 14 per share (700%) with a record date of July 4, 2025. Mr. Ashish Bhandari was re-appointed as Managing Director and CEO for another five years (Sept 2025 to Aug 2030). Mr. Harsh Mariwala (founder of Marico) was appointed as Lead Independent Director. M/s. Makarand M. Joshi & Co. was appointed as the new Secretarial Auditor for five years, and Mr. Tushar Dahale replaced Mr. Satish Jayaram as Chief Internal Auditor following an internal role change.
Solid revenue growth of about 11% YoY, stable profitability, and a generous 700% dividend signal strong shareholder returns. The re-appointment of the CEO provides leadership continuity, while the addition of a high-profile independent director and fresh internal audit leadership reinforce governance. The slight dip in net profit and ongoing litigation exposure (Rs. 218.45 crore arbitral award, Rs. 1,385.47 crore excise demand) are points investors should watch.