However, revenue from operations grew by 7.89% to Rs 2,507.76 crore in the quarter ended 31 December 2024.
Profit before tax (PBT) was at Rs 156.27 crore in Q3 FY25, down 49.45% as against Rs 309.16 crore posted in Q3 FY24.
On the segmental front, revenue from industrial products stood at Rs 1,080.14 crore (up 5.62% YoY), revenue from industrial infra stood at Rs 1,131.66 crore (up 3.11% YoY), revenue from green solutions stood at Rs 189.22 crore (up 53.25% YoY) and revenue from chemical segment stood at Rs 191.59 crore (up 19.30% YoY) during the quarter.
The current quarter's results are affected by lower margins in certain orders within the industrial infra segment and the impact of product mix changes in the chemicals segment.
The order balance for the quarter stood at Rs 11,383 crore, registering a 6% increase from Rs 10,717 crore in the corresponding quarter of the previous year. However, the order booking for the quarter was Rs 2,296 crore, marking an 8% decline compared to Rs 2,506 crore in the same quarter of the previous fiscal year.
During the quarter, the company completed the acquisition of 100% of the equity share capital of Buildtech Products India, a company that manufactures admixtures, accelerators, and capsules used in tunnels, infrastructure, and railway projects. This acquisition enhances the company's presence in the construction chemicals sector.
On standalone basis, the company’s net profit dropped 48.56% to Rs 103.18 crore in Q3 FY25 as against Rs 200.62 crore posted in Q3 FY24. Revenue from operations slipped 1.82% YoY to Rs 1,452.71 crore posted in Q3 FY25
Meanwhile, the company’s board has approved support by way of a corporate guarantee or letter of comfort to First Energy (FEPL), a wholly owned subsidiary of the company, for its borrowings up to Rs 400 crore.
Thermax, a leading energy and environment solutions provider, is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. Thermax has manufacturing facilities in India, Europe and Southeast Asia.