Thermax Q3 FY26 results: PAT up 72% YoY, order book up 34%

Profit growth above 25%Exceptional itemResults View source PDF Explain this filing

THERMAX · price

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

+3.8%Reaction day

₹2825.60

prior close

₹3090.00

announcement price

After-mkt

timing

Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)+2.9%+0.9% vs market

Heavy Electrical Equipment peers, median of 30sector+4.6%-0.8% vs sector

On the reaction day the stock moved 0.9 pts more than Nifty Midcap 150 and 0.8 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

-1.7

10m

-2.2

15m

-1.4

30m

-4.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+3.8+2.9+0.9+4.6-0.8

Next day

+4.6+3.5+1.1+5.9-1.3

+3.2+3.2-0.0+5.3-2.1

+1.6+3.2-1.6+5.2-3.6

+2.3+4.8-2.5+8.3-6.0

+5.0+5.2-0.3+9.5-4.5

+0.3+4.7-4.4+7.4-7.1

15d

+11.7+2.7+9.0+4.6+7.1

+6.7-1.2+7.9-2.5+9.3

+15.8-5.5+21.3-0.2+16.0

+48.6+4.3+44.4+31.7+17.0

UpDownMarket · Nifty Midcap 150Sector · Heavy Electrical Equipment peers, median of 30Pending

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

AI summary

Thermax Q3 FY26 consolidated PAT up 72% YoY at Rs 205 cr; PBT before exceptional items up 47% at Rs 230 cr. Revenue grew 4% to Rs 2,635 cr. Order booking surged 34% to Rs 3,080 cr; order book at Rs 12,641 cr, up 11%. Nine month PAT up 13% at Rs 476 cr. Q3 includes Rs 59 cr exceptional gain from Bombay HC order setting aside arbitral award (reversal of Rs 51 cr provision plus Rs 29 cr interest), offset by Rs 21 cr labour code charge. Board approved Dubai step-down subsidiary.

Likely market impact

Strong Q3 profit growth supported by order book momentum, favourable Bombay HC ruling, and operating leverage. Dubai subsidiary signals international expansion.