Thermax has inducted Arun Unni has been inducted as the Business Unit Head, New Energy & Strategy and member of Senior Management of the Company. Powered by Capital Market - Live

Net profit of Thermax rose 24.92% to Rs 197.03 crore in the quarter ended September 2024 as against Rs 157.73 crore during the previous quarter ended September 2023. Sales rose 13.43% to Rs 2611.59 crore in the quarter ended September 2024 as against Rs 2302.46 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales2611.592302.46 13 OPM %10.648.88 - PBDT308.32250.43 23 PBT266.25217.47 22 NP197.03157.73 25 Powered by Capital Market - Live

Thermax has entered into Share Purchase and Share Subscription Agreement with Buildtech Products India (Buildtech / Target), Sunder Lal Kothari, Sanjiv Kapoor and Prapti Kothari (Shareholders of Target) on 25 October 2024 for acquiring / subscribing to the 100% of the equity share capital of the Target. The acquisition would provide Thermax entry into niche infrastructure projects including tunnelling, hydro power projects, etc. by enhancing the current product portfolio of construction chemicals,waterproofing compounds/ systems, epoxy products, grouts (polyurethane), grout (cementitious), grout (epoxy), floor hardeners, curing compounds, sealants for joints, synthetic fibres (poly) adhesives, coatings and related products and other such chemicals used in infrastructure projects. Powered by Capital Market - Live

Thermax will hold a meeting of the Board of Directors of the Company on 13 November 2024.Powered by Capital Market - Live

This order is part of the second phase of a 600 MW project being developed by the major, positioning Thermax as the sole partner for the entire project. TBWES will supply two 550 TPH CFBC (circulating fluidised bed combustion) boilers and will undertake complete responsibility for designing, engineering, manufacturing, testing, supply, supervision of erection & commissioning, and performance testing. The project will supply power to the national utility grid, addressing the power needs of the region, and strengthening energy security. Commenting on the project win, MD and CEO Ashish Bhandari said, 'Winning the second order for the same project is a testament to the trust the customer has placed in our capabilities. With this project in Botswana, we look forward to contributing to the broader energy landscape in Southern Africa, enhancing its power infrastructure, and setting new benchmarks with best-in-class solutions for efficiency and environmental performance.' 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. 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. The company had reported consolidated net profit of Rs 115.81 crore in Q1 FY25, registering a growth of 96.68% as against with Rs 58.88 crore posted in Q1 FY24. Revenue from operations stood at Rs 2,184.41 crore during the quarter, grew by 13.01% year on year. The scrip ended 1.80% higher at Rs 4,727.25 on Friday, 13 September 2024.Powered by Capital Market - Live

Thermax has entered into a loan agreement with Thermax Babcock and Wilcox Energy Solutions (TBWES), wholly owned subsidiary of the Company for availing loan upto Rs. 250 crore in one or more tranches from TBWES.Powered by Capital Market - Live

Ceres Power is a subsidiary of Ceres Power Holdings plc (CWR.L), a leading developer of clean energy technology. In a regulatory filing made today, the energy and environment solutions provider stated that have entered a non-exclusive, global license agreement for Thermax to manufacture, sell and service stack array modules (SAM) based on Ceres' advanced solid oxide electrolysis cell (SOEC) technology. Thermax will also develop, commercialise and sell SAM balance of modules (SBM) and multi-megawatt SOEC electrolyser modules. The partnership marks a significant step towards accelerating the deployment of SOEC technology in India and worldwide that will enable cost-effective green hydrogen production,' Thermax said in a statement. Under this partnership, Thermax will leverage its extensive experience in heat integration and waste heat recovery to manufacture a first-of-its-kind pressurised SAM and design, engineer, and develop SAM balance of module (SBM), a building block for further development of a multi-MW SOEC electrolyser module. The collaboration would deliver systems that are up to 25% more efficient than incumbent low-temperature electrolysis technologies and effectively utilise steam generated from industrial process heat/waste heat recovery. This makes it an optimal solution for decarbonising hard-to-abate industries such as ammonia/fertiliser, steel, refineries and chemical production. As a step towards commercialisation, Thermax plans to establish a manufacturing facility for the electrolysers, develop the supply chain, and localise critical components. This collaboration would position Thermax among the few companies globally to provide large-scale SOEC systems for commercial applications. Ashish Bhandari, Managing Director & CEO, Thermax: 'In India, significant strides are being made towards embracing renewable energy sources, particularly green hydrogen, as the country targets to produce 5 million metric tonnes of green hydrogen by 2030. We are excited to partner with Ceres to bring advanced solid oxide electrolysis (SOEC) technology to India. By leveraging our expertise in thermal management, we aim to offer a highly efficient and cost-effective hydrogen production solution that will accelerate the energy transition in India and globally. This collaboration aligns with our commitment to driving sustainable solutions for accelerating decarbonisation for hard to abate industries. 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. The company had reported consolidated net profit of Rs 115.81 crore in Q1 FY25, registering a growth of 96.68% as against with Rs 58.88 crore posted in Q1 FY24. Revenue from operations stood at Rs 2,184.41 crore during the quarter, grew by 13.01% year on year. The scrip jumped 4% to end at Rs 4654.90 on the BSE today. Powered by Capital Market - Live

Thermax has announced a strategic collaboration with Ceres Power, a subsidiary of Ceres Power Holdings plc (CWR.L), a leading developer of clean energy technology. The two companies have entered a non-exclusive, global license agreement for Thermax to manufacture, sell and service stack array modules (SAM) based on Ceres' advanced solid oxide electrolysis cell (SOEC) technology. Thermax will also develop, commercialise and sell SAM balance of modules (SBM) and multimegawatt SOEC electrolyser modules. The partnership marks a significant step towards accelerating the deployment of SOEC technology in India and worldwide that will enable cost-effective green hydrogen production. Under this partnership, Thermax will leverage its extensive experience in heat integration and waste heat recovery to manufacture a first-of-its-kind pressurised SAM and design, engineer, and develop SAM balance of module (SBM), a building block for further development of a multi-MW SOEC electrolyser module. The collaboration is set to revolutionise the hydrogen production landscape by delivering systems that are up to 25% more efficient than incumbent low-temperature electrolysis technologies and effectively utilise steam generated from industrial process heat/waste heat recovery. This makes it an optimal solution for decarbonising hard-to-abate industries such as ammonia/fertiliser, steel, refineries and chemical production. As a step towards commercialisation, Thermax plans to establish a manufacturing facility for the electrolysers, develop the supply chain, and localise critical components. This collaboration positions Thermax among the few companies globally to provide large-scale SOEC systems for commercial applications.Powered by Capital Market - Live