Thermax Limited (THERMAX) — Corporate Action | 30 July 2026 (2 announcements)

Thermax Limited announced on July 30, 2026, a Scheme of Arrangement merging its subsidiaries TBSPL and TCSL into itself, effective April 1, 2026, with no shareholding changes and NCLT approval required. The filing also disclosed unaudited Q1 results showing total revenue of Rs. 2,302.73 crore, a Rs. 18 crore loss after tax due to a Rs. 91 crore cost overrun in Industrial Infra, and a 5% rise in order book to Rs. 139 crore despite an 8% drop in new orders to Rs. 1,606 crore. The scheme simplifies structure to enhance financial stability and shareholder value through cost savings.

Thermax Limited announced a demerger of its Bio-CNG and Cooling Solutions businesses effective April 1, 2026, approved by NCLT, with no impact on consolidated financials or shareholding. The move aims to simplify structure and enhance shareholder value. Financials for Q1 FY2026 show consolidated revenue of ₹2,302.73 crore and profit before tax of [amount context mismatch] crore, though standalone PAT declined to a loss of ₹18 crore due to exceptional items including a ₹2,104 crore statutory labor code impact.