Thermax Q1 PAT drops 85%, board approves merger of two subsidiaries

Nclt Scheme FiledStrategic Transactions View source PDF Explain this filing

THERMAX · price

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

+1.2%Reaction day

₹4250.00

prior close

₹3892.00

announcement price

After-mkt

timing

Nifty Midcap 150market+0.5%+0.7% vs market

Heavy Electrical Equipment peers, median of 33sector+1.1%+0.0% vs sector

On the reaction day the stock moved 0.7 pts more than Nifty Midcap 150 and in line with 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

-6.4

10m

-6.5

15m

-6.5

30m

-3.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.2+0.5+0.7+1.1+0.0

Next day

-3.0+1.7-4.6+2.8-5.8

-5.7+1.4-7.1+2.8-8.5

-4.9+1.6-6.6+3.9-8.9

-6.0+1.2-7.2+3.6-9.6

-4.2+1.4-5.7+3.4-7.7

-5.2+1.9-7.1+2.5-7.7

15d

-6.9+1.6-8.6+1.0-7.9

-7.8+2.2-10.0+0.2-8.0

-20.5-5.1-15.4-2.7-17.7

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UpDownMarket · Nifty Midcap 150Sector · Heavy Electrical Equipment peers, median of 33Pending

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

AI summary

Thermax Q1 FY27 consolidated revenue rose 7% to Rs 2,303 crore, but PAT fell 85% to Rs 22 crore due to a Rs 91 crore cost overrun in one Industrial Infra project. PBT dropped 80% to Rs 42 crore. Order book grew 23% to Rs 14,045 crore. Board also approved a composite scheme: demerger of Bio-CNG EPC business from wholly owned TBSPL into Thermax, and merger of TCSL into Thermax. No new shares issued, scheme subject to NCLT approval.

Likely market impact

Weak Q1 profits hurt by one-off cost overrun; group restructuring simplifies structure with no share dilution for shareholders.