Thermax Second Quarter 2025 Earnings: Beats Expectations

Thermax (NSE:THERMAX) Second Quarter 2025 Results

Key Financial Results

• Revenue: ₹26.1b (up 13% from 2Q 2024).
• Net income: ₹1.97b (up 25% from 2Q 2024).
• Profit margin: 7.5% (up from 6.9% in 2Q 2024). The increase in margin was driven by higher revenue.
• EPS: ₹17.49 (up from ₹14.00 in 2Q 2024).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Thermax Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in India.

Performance of the Indian Machinery industry.

The company's shares are down 2.5% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Thermax that you should be aware of.

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