Thermax Limited has informed the Exchange regarding Outcome of Board Meeting held on May 09, 2025.
THERMAX · price
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Thermax Limited reported audited financial results for Q4 and FY25 on May 9, 2025, with an Unmodified Opinion from auditors. Consolidated FY25 revenue from operations rose ~11.4% to Rs. 10,388.69 crore, but net profit dipped slightly to Rs. 626.70 crore from Rs. 643.19 crore, dragged by lower other income and a one-time litigation provision. Standalone, however, showed strong performance with revenue up ~7.4% to Rs. 6,254.07 crore and net profit jumping ~31% to Rs. 572.14 crore, boosted by a Rs. 93.73 crore reversal of impairment in its Dutch subsidiary. The Board recommended a healthy dividend of Rs. 14 per share (700% on face value of Rs. 2), with record date July 4, 2025. Leadership changes include the appointment of Harsh Mariwala as Lead Independent Director, Ashish Bhandari's re-appointment as MD & CEO for five more years, and a new Chief Internal Auditor. The auditor flagged two emphasis-of-matter items: an arbitral award of Rs. 218.45 crore under appeal and an excise demand of Rs. 1,385.47 crore pending before the Supreme Court.
For shareholders: A robust 700% dividend and strong standalone earnings growth signal financial health, but the slight decline in consolidated profit and large contingent liabilities from ongoing litigation may weigh on sentiment. The unchanged Unmodified audit opinion and continuity in senior leadership provide reassurance.