Thermax Limited has informed the Exchange that Record date for the purpose of Dividend is 04-Jul-2025.

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THERMAX · price

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Price reactionminutes from the announcement price · days from the prior close

+1.8%Reaction day

₹3240.00

prior close

₹3402.50

announcement price

After-mkt

timing

Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)+3.8%-2.0% vs market

Heavy Electrical Equipment peers, median of 26sector+6.1%-4.4% vs sector

On the reaction day the stock moved 2.0 pts less than Nifty Midcap 150 and 4.4 pts less than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

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30m

-4.5

Sessions after the filingfrom the prior close

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Reaction day

+1.8+3.8-2.0+6.1-4.4

Next day

+2.6+4.0-1.4+8.0-5.4

+5.1+5.3-0.2+10.9-5.8

+6.0+6.0-0.0+12.4-6.4

+5.7+7.0-1.2+14.4-8.7

+8.9+7.1+1.8+13.9-5.0

+9.4+6.3+3.1+13.2-3.8

15d

+5.6+8.4-2.7+15.7-10.0

+9.7+9.8-0.0+15.1-5.4

+6.2+11.1-4.9+18.1-11.9

+1.7+6.8-5.1+8.7-7.0

UpDownMarket · Nifty Midcap 150Sector · Heavy Electrical Equipment peers, median of 26Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Thermax reported consolidated FY25 revenue of Rs. 10,388.69 crore, up about 11.4% from Rs. 9,323.46 crore last year. However, consolidated net profit slipped slightly to Rs. 626.70 crore from Rs. 643.19 crore in FY24. Standalone net profit jumped to Rs. 572.14 crore from Rs. 437.44 crore, helped by a Rs. 93.73 crore reversal of an investment impairment provision. The board recommended a Rs. 14 per share dividend (700% on face value of Rs. 2), with July 4, 2025 as the record date. The auditor flagged two ongoing matters in an Emphasis of Matter: a Rs. 218.45 crore arbitration award dispute (partly provided for) and a Rs. 1,385.47 crore excise demand under appeal. The board also appointed Harsh Mariwala as Lead Independent Director and re-appointed Ashish Bhandari as MD & CEO for five years from September 2025.

Likely market impact

Modest revenue growth but slight dip in consolidated profit may limit near-term upside, while the strong dividend signals cash comfort for shareholders. The auditor's emphasis on a large arbitration case and an excise demand worth over Rs. 1,300 crore remains a watchpoint despite management's confidence of a favourable outcome.