Thermax Shares Surge 8% as Q4 Profit Climbs 19% YoY to Rs 244 Crore Amid Strengthening Order Book

Shares of Thermax experienced a notable increase, soaring by 7.82% to reach Rs 4,509 during Friday’s trading session, buoyed by the company’s impressive Q4FY26 earnings. The stock achieved a new 52-week high of Rs 4,539, continuing its bullish momentum as strong revenue growth and increased order inflows fueled investor confidence. The engineering conglomerate reported a consolidated net profit of Rs 244.28 crore, reflecting an 18.7% year-on-year rise compared to Rs 205.73 crore during the same quarter last year. Additionally, revenue from operations climbed by 12.5% year-on-year to Rs 3,428.04 crore, further underscoring robust performance across various segments.

A significant driver of investor optimism is Thermax’s order pipeline, which saw a remarkable 27% year-on-year growth, with a total order balance of Rs 13,604 crore as of March 31, 2026, up from Rs 10,693 crore in the corresponding period last year. The company’s gross order bookings surged 112% in Q4, hitting Rs 4,490 crore compared to Rs 2,119 crore in the previous fiscal quarter. This remarkable growth indicates strong demand visibility and ongoing business momentum, reassuring investors about the company’s future prospects.

On the shareholder return front, the board has recommended a final dividend of Rs 14 per share alongside a special anniversary dividend of Rs 6, culminating in a total payout of Rs 20 per share for FY26, pending shareholder approval. Thermax’s stock has demonstrated impressive performance, with nearly a 46% increase over the last three months, and its market capitalization currently stands at approximately Rs 49,834 crore. Despite its premium valuations, indicated by a price-to-earnings ratio of 73.08 and a price-to-book ratio of 9.53, the stock remains robust, trading above all key simple moving averages. However, with the Relative Strength Index (RSI) nearing overbought territory at 66.1, investors might want to evaluate their positions carefully. Foreign institutional investors have slightly reduced their stake, which could influence future stock dynamics.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova team.)