Thermax Q2 FY27: revenue rises, order balance grows, profit dips
THERMAX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 15.4 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.
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Thermax reported Q2 FY2026-27 operating revenue of Rs 2,756 crore, up 11%, supported by executing its backlog. Order bookings fell 8% to Rs 3,259 crore, while the order balance rose 16% to Rs 14,250 crore. Profit before tax declined 3% to Rs 169 crore and profit after tax fell 5% to Rs 113 crore. Higher input costs hurt Industrial Products, while a Rs 15 crore impairment hurt Green Solutions.
The larger order balance supports future revenue, but lower profit and higher costs may pressure near-term earnings and the share price.