Thermax Ltd. Annual Results: Standalone & Consolidated Reports

Annual Results

Results Snapshot

Figures in Cr

Consolidate Annual Results

Mar'25

Mar'24

Mar'23

Mar'22

Mar'21

Mar'20

Mar'19

Net Sales

10,369.26

9,323.46

8,089.81

6,128.33

4,791.25

5,731.31

5,973.17

Other Operating Income

0.00

Total Operating income

10,369.26

9,323.46

8,089.81

6,128.33

4,791.25

5,731.31

5,973.17

Raw Material Cost

5,534.24

5,091.56

4,442.70

3,506.01

2,467.43

2,996.14

3,239.69

Purchase of Finished goods

193.19

162.99

152.73

121.55

83.36

104.12

115.09

(Increase) / Decrease In Stocks

66.64

-34.99

29.25

-142.52

-12.16

-14.57

-18.12

Employee Cost

1,268.94

1,148.29

954.17

812.93

758.76

799.02

767.45

Power Cost

0.00

Manufacturing Expenses

0.00

Selling and Distribution Expenses

0.00

Other Expenses

2,398.47

2,158.22

1,913.40

1,408.99

1,138.67

1,440.42

1,411.62

Total Expenditure (Excl Depreciation)

9,461.48

8,526.07

7,492.25

5,706.96

4,436.06

5,325.13

5,515.73

Operating Profit (PBDIT) excl Other Income

907.78

797.39

597.56

421.37

355.19

406.18

457.44

Other Income

252.22

232.57

160.18

127.01

107.74

100.00

149.88

Operating Profit (PBDIT)

1,160.00

1,029.96

757.74

548.38

462.93

506.18

607.32

Interest

116.78

87.59

37.59

25.17

20.64

15.02

14.32

Exceptional Items

0.00

75.49

0.00

-52.53

0.00

-89.54

Gross Profit (PBDT)

1,043.22

1,017.86

720.15

523.21

389.76

491.16

503.46

Depreciation

158.51

148.08

116.86

113.24

114.57

116.63

92.02

Profit Before Tax

884.71

869.78

603.29

409.97

275.19

374.53

411.44

Tax

257.77

225.77

152.36

97.79

68.61

162.08

84.94

Provisions and contingencies

0.00

Profit After Tax

626.94

644.01

450.93

312.18

206.58

212.45

326.50

Extraordinary Items

0.00

Prior Period Expenses

0.00

Other Adjustments

0.00

Net Profit

626.94

644.01

450.93

312.18

206.58

212.45

326.50

Share in Profit of Associates

-0.24

-0.82

-0.23

0.13

0.00

-1.07

Minority Interest

7.77

2.09

-0.41

0.00

Other related items

0.00

Consolidated Net Profit

634.47

645.28

450.29

312.31

206.58

212.45

325.43

Equity Capital

22.53

22.52

Face Value

2.0

Reserves

4,914.36

4,417.28

3,845.55

3,469.97

3,228.87

3,005.38

2,991.77

Earnings per share (EPS)

56.32

57.31

39.99

27.74

18.35

18.87

28.9

Diluted Earnings per share

56.31

57.28

39.98

27.73

18.34

18.87

28.9

Operating Profit Margin (Excl OI)

8.75%

8.55%

7.39%

6.88%

7.41%

7.09%

7.66%

Gross Profit Margin

10.06%

10.92%

8.9%

8.54%

8.13%

8.57%

8.43%

PAT Margin

6.04%

6.9%

5.57%

5.1%

4.31%

3.71%

5.45%

Public Share Holdings (%)

0.0%

Pledged Promotor Holding (%)

0.0%

Annual Analysis Highlights

Net Sales

YoY Growth in year ended Mar 2025 is 11.22% vs 15.25% in Mar 2024

Consolidate Net Profit

YoY Growth in year ended Mar 2025 is -1.68% vs 43.30% in Mar 2024

Operating Profit (PBDIT) excl Other Income

YoY Growth in year ended Mar 2025 is 13.84% vs 33.44% in Mar 2024

Interest

YoY Growth in year ended Mar 2025 is 33.33% vs 133.01% in Mar 2024

Operating Profit Margin (Excl OI)

YoY Growth in year ended Mar 2025 has improved from Mar 2024

Compare Annual Results Of Thermax With

Select Peers

Figures in Cr

Consolidate Annual Results

Change(INR)

Change(%)

Net Sales

10,369.26

10,889.74

-520.48

-4.78%

Other Operating Income

0.00

Total Operating income

10,369.26

10,889.74

-520.48

-4.78%

Raw Material Cost

5,534.24

7,139.17

-1,604.93

-22.48%

Purchase of Finished goods

193.19

0.00

193.19

(Increase) / Decrease In Stocks

66.64

-252.57

319.21

126.38%

Employee Cost

1,268.94

941.53

327.41

34.77%

Power Cost

0.00

Manufacturing Expenses

0.00

Selling and Distribution Expenses

0.00

Other Expenses

2,398.47

1,204.38

1,194.09

99.15%

Total Expenditure (Excl Depreciation)

9,461.48

9,032.51

428.97

4.75%

Operating Profit (PBDIT) excl Other Income

907.78

1,857.23

-949.45

-51.12%

Other Income

252.22

103.39

148.83

143.95%

Operating Profit (PBDIT)

1,160.00

1,960.62

-800.62

-40.84%

Interest

116.78

254.80

-138.02

-54.17%

Exceptional Items

0.00

Gross Profit (PBDT)

1,043.22

1,705.82

-662.60

-38.84%

Depreciation

158.51

259.19

-100.68

-38.84%

Profit Before Tax

884.71

1,446.63

-561.92

-38.84%

Tax

257.77

-625.00

882.77

141.24%

Provisions and contingencies

0.00

Profit After Tax

626.94

2,071.63

-1,444.69

-69.74%

Extraordinary Items

0.00

Prior Period Expenses

0.00

Other Adjustments

0.00

Net Profit

626.94

2,071.63

-1,444.69

-69.74%

Share in Profit of Associates

-0.24

0.00

-0.24

Minority Interest

7.77

0.00

7.77

Other related items

0.00

Consolidated Net Profit

634.47

2,071.63

-1,437.16

-69.37%

Equity Capital

22.53

2,731.79

-2,709.26

-99.18%

Face Value

2.00

0.00

Reserves

4,914.36

3,373.93

1,540.43

45.66%

Earnings per share (EPS)

56.32

1.52

54.80

3,605.26%

Diluted Earnings per share

56.31

1.51

54.80

3,629.14%

Operating Profit Margin (Excl OI)

8.75%

17.12%

0.00

-8.37%

Gross Profit Margin

10.06%

15.72%

0.00

-5.66%

PAT Margin

6.04%

19.09%

0.00

-13.05%

Public Share Holdings (%)

0.00%

0.00

0.00%

Pledged Promotor Holding (%)

0.00%

0.00

0.00%

Annual - Net Sales

Net Sales 10,369.26 Cr

in Mar 2025

Figures in Cr

YoY Growth in year ended Mar 2025 is 11.22% vs 15.25% in Mar 2024

Annual - Consolidate Net Profit

Consolidate Net Profit 634.47 Cr

in Mar 2025

Figures in Cr

YoY Growth in year ended Mar 2025 is -1.68% vs 43.30% in Mar 2024

Annual - Operating Profit (PBDIT)

Operating Profit (PBDIT) 907.78 Cr

in Mar 2025

Figures in Cr

YoY Growth in year ended Mar 2025 is 13.84% vs 33.44% in Mar 2024

Annual - Interest

Interest 116.78 Cr

in Mar 2025

Figures in Cr

YoY Growth in year ended Mar 2025 is 33.33% vs 133.01% in Mar 2024

Annual - Operating Profit Margin (Excl OI)

Operating Profit Margin (Excl OI) 8.75%

in Mar 2025

Figures in %

YoY Growth in year ended Mar 2025 has improved from Mar 2024