Thermax Q4: Consistent Performance, Leadership Stability, and ₹14 Dividend Indicate Confidence

Thermax Ltd. announced its Q4 FY25 performance, reflecting operational resilience and shareholder value focus, even as top-line numbers were marginally short of analyst estimates. The board also expressed confidence in leadership by re-appointing Ashish Bhandari as Managing Director and CEO, and announced a liberal ₹14 per share dividend.

 

Key Highlights:

 

Q4 Financials: Thermax reported consolidated revenue from operations of ₹30.85 billion for the March quarter, marginally lower than the IBES estimate of ₹31.22 billion. Consolidated net profit was ₹2.06 billion, very close to the IBES profit estimate of ₹2.08 billion. The numbers indicate stable demand in its energy and environment solutions core businesses despite a tough macro scenario.

 

Leadership Reappointment: The board has reappointed Ashish Bhandari as Managing Director and CEO, highlighting faith in his leadership. Bhandari, who joined in September 2020, has played a key role in leading innovation and operational excellence at Thermax, making the company a leader in sustainable industrial solutions.

 

Dividend Declaration: Thermax declared a final dividend of ₹14 per share for FY25, higher than ₹12 paid last year, reiterating its commitment to rewarding shareholders as the bottom line remains strong.

 

Market Outlook: Though there was a slight miss on expectations, the fundamentals of Thermax remain good with a solid order book and ongoing emphasis on energy transition, water management, and pollution control solutions.

 

Thermax's Q4 performance, management stability, and increasing dividend reflect a consistent path and hope for future growth in India's industrial solutions space.

 

Sources: Moneycontrol, Economic Times HR, INDmoney, BlinkX