Stock market positive on Thermax despite profit margin decline in Q1

Thermax reported 13 per cent Y-o-Y revenue growth with operating profit margin decline in Q1FY25. It took a hit of Rs 70 crore on specific projects. The company enjoys a strong order pipeline across sectors like power, steel, refining and petrochemicals. Its strengths include technical expertise, a strong balance sheet and good working capital management.

The industrial products segment is poised for double-digit growth driven by solutions for water treatment and air pollution. The chemical business is on a growth trajectory as supply chain issues ease. In green solutions, the subsidiary TOESL continues to grow at a