Archive · 30 Jul 2026
Thermax Q1 Profit Plunges 85% Amid Project Cost Overrun
Thermax is a company that makes energy and environment solutions.
In the first quarter of 2027, it earned only ₹22 crore, a huge drop from the previous year.
This happened because a big project cost more money than expected, adding ₹91 crore to expenses.
Even though profit fell, the company still made more money overall, with revenue up 7% to ₹2,303 crore.
It also got a big order of over ₹400 crore to supply parts for a data‑centre in the United States.
The company says the extra cost was a one‑time thing and expects things to improve later in the year.
Thermax’s Q1 FY27 net profit fell 85‑86% to ₹22 crore due to a ₹91 crore cost overrun on an Industrial Infra project.
Operating revenue rose 7% to ₹2,303 crore, and order bookings increased 2% to ₹2,809 crore.
The order backlog grew 23% to ₹14,045 crore, including a >₹400 crore order for boiler parts to a U.S. data‑centre project.
A one‑time ₹56 crore benefit received in FY26 helped offset the loss, and the company expects the overrun to be a one‑time impact.
Thermax plans to expand its large boilers, chemicals, water, and cooling businesses and is exploring strategic investments in its solar and wind division.
- Who
- Thermax and Managing Director Ashish Bhandari
- What
- Q1 FY27 net profit fell 85% to ₹22 crore due to a project cost overrun
- When
- Quarter ended June 2026
- Where
- New Delhi, India (HQ) and United States (major order)
- Why
- Cost overrun and higher expenses in the Industrial Infra segment
- Net profit
- ₹22 crore
- Operating revenue
- ₹2,303 crore
- Order backlog
- ₹14,045 crore
- Order bookings
- ₹2,809 crore
- Project cost overrun
- ₹91 crore
