Thermax shares surged 13% to hit a fresh 52-week high of ₹4,736 on the NSE on Friday, marking the biggest gain in four years after the company reported stronger-than-expected Q4FY26 earnings. The engineering major's stock has gained more than 14% over the last two trading sessions, with the stock opening 4.6% higher on Friday. According to Moneycontrol, the surge reflects strong execution across segments and attractive dividend recommendations including a special payout for the company's 60th anniversary.
The company reported an 18.7% year-on-year increase in consolidated net profit to ₹244.3 crore for Q4FY26, compared with ₹205 crore in the year-ago period, significantly ahead of the CNBC-TV18 poll estimate of ₹219 crore. Revenue from operations rose 12.5% YoY to ₹3,428 crore in Q4FY26, surpassing estimates of ₹3,277 crore. Total income increased to ₹3,481.75 crore in the January-March period from ₹3,123.25 crore in the corresponding quarter of the previous financial year. For the full fiscal year FY26, consolidated PAT grew 15% to ₹720 crore, demonstrating consistent growth momentum across the business segments.
The most impressive aspect of the quarter was the company's order booking performance, which surged 112% to ₹4,490 crore versus ₹2,119 crore in the same quarter last fiscal. According to Moneycontrol, the order inflow momentum was supported by improved ordering activity in its industrial products and industrial infrastructure businesses, with the company also witnessing stronger performance in its heating, cooling, and water & waste solutions segments. During the quarter, Thermax secured a boiler package order worth ₹1,600 crore, providing further visibility on future growth. As of March 31, 2026, the company's consolidated order book closing balance stood at ₹13,604 crore, representing a 27% year-on-year growth from ₹10,693 crore in the corresponding quarter of the previous year, providing strong visibility for future revenue.
The company announced a total dividend payout of ₹20 per equity share for FY26, subject to shareholder approval at the upcoming 45th Annual General Meeting. The record date for dividend eligibility has been fixed as Friday, July 3, 2026. Additionally, marking Thermax's 60th anniversary milestone, the board has declared a special dividend of ₹6 per share. The board has recommended a final dividend of ₹14 per share for FY26, further signaling financial strength and commitment to shareholder returns. The company's subsidiary, TOESL, has implemented a rolling 12-month forecast model for its order book to improve project pipeline management and reporting accuracy.
The sharp rise in order booking highlights Thermax's strong execution capabilities and prominent market position in the energy and environment sectors. Healthy demand for the company's offerings is evident, with the significant order surge expected to translate into sustained revenue growth in the coming quarters. The company operates as a leading engineering solutions provider in clean air, clean energy, clean water and chemical solutions, spanning boilers, heating and cooling systems, water and wastewater management solutions, and air pollution control technologies. As of 11:09 am on Friday, Thermax shares traded 13% higher at ₹4,736, outperforming the NIFTY50 index which was down 0.54%. The company's strong performance across all segments and robust order book position it well for continued growth in the energy and environment sector.
