Thermax Ltd. announced that its wholly-owned subsidiary Thermax Babcock & Wilcox Energy Solutions Ltd. (TBWES) has secured a significant boiler package supply order worth ₹1,600 crore from a leading thermal power projects company in central India. The contract involves supplying equipment for a 1x800 MW ultra-supercritical thermal power plant. The scope of work includes the entire lifecycle management of the boiler package, covering manufacturing, supply, supervision of installation, commissioning, and final performance testing. As per multiple reports, execution timelines will be strictly aligned with the project milestones defined in the contract. TBWES provides equipment and solutions for generating steam for process and power through the combustion of various solid, liquid and gaseous fuels, as well as through heat recovery from turbine/engine exhaust and waste heat recovery from industrial processes.
As reported by CNBC TV18, Thermax's MD and CEO Ashish Bhandari described this order as a significant breakthrough for Thermax that reinforces the company's proven capabilities in large scale energy solutions. According to Economic Times, Bhandari stated that this order marks a significant breakthrough for Thermax and reinforces their proven capabilities in large-scale energy solutions. The company thanked their customer for their trust in Thermax and looks forward to delivering this project with accelerated timelines and successful execution. TBWES also offers heaters for various applications in the chemical, petrochemical and refinery segments, while its services arm provides renovation and modernisation solutions for old boilers and heaters, complemented by digital solutions implementation.
Thermax Limited operates as a leading entity in the global energy and environment sector, focusing heavily on the energy transition. The company offers a wide portfolio encompassing clean air, clean energy, clean water, and chemical solutions. Leveraging deep industry expertise across audit, consulting, execution, and maintenance, Thermax aims to convert operational costs into profits while ensuring environmental protection. The organization maintains an extensive footprint, operating 16 manufacturing facilities across India, Europe, and Southeast Asia, supported by over 45 subsidiaries internationally.
As reported by Moneycontrol, Thermax shares closed at ₹3,192.35 in the previous session, down ₹52.25 or 1.61%. The stock has experienced a 15% decline in the last one year despite the company's strong financial performance and recent contract wins. The share touched a 52-week high of ₹4,088.00 and a 52-week low of ₹2,744.20 on July 17, 2025, and December 8, 2025, respectively. Currently, the stock is trading 21.91% below its 52-week high and 16.33% above its 52-week low. The company's market capitalisation stands at ₹38,038.86 crore.
According to CNBC TV18, Thermax reported strong financial results in the third quarter, with net profit of ₹205 crore, up 80% from the previous year. The company's revenue increased 4.2% to ₹2,634 crore, while EBITDA rose 34.5% to ₹254.3 crore. Most significantly, the EBITDA margin expanded to 9.7% from 7.5% in the year-ago period, indicating improved operational efficiency.
