Integrated Filing — IndAS

General information about company
Scrip Code	500411
NSE Symbol	THERMAX
MSEI Symbol	NOTLISTED
ISIN	INE152A01029
Name of company	THERMAX LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	09-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	17-Apr-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Single segment
Description of single segment	Industrial Products, Industrial Infra, Green Solutions and Chemical
Start date and time of board meeting	09-May-2025   09:30:00
End date and time of board meeting	09-May-2025   17:00:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion
Whether the company has any related party?	Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?	Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public	NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.	NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)?	No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?	Yes
Latest Date on which RPT policy is updated	2023-02-07
Indicate Company website link for updated RPT policy of the Company	https://www.thermaxglobal.com/wp-content/uploads/2024/11/Related-Party-Transactions-Policy.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?	No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
No Default, Not Applicable

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	19716500000	62540700000
	Other income	556500000	2025300000
	Total income	20273000000	64566000000
2	Expenses
(a)	Cost of materials consumed	10544800000	33058500000
(b)	Purchases of stock-in-trade	550200000	1893600000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	400400000	162700000
(d)	Employee benefit expense	1914700000	7643100000
(e)	Finance costs	86400000	314000000
(f)	Depreciation, depletion and amortisation expense	203600000	783900000
(f)	Other Expenses
1	Other expenses	4138200000	14516100000
	Total other expenses	4138200000	14516100000
	Total expenses	17838300000	58371900000
3	Total profit before exceptional items and tax	2434700000	6194100000
4	Exceptional items	937300000	937300000
5	Total profit before tax	3372000000	7131400000
6	Tax expense
7	Current tax	852200000	1779600000
8	Deferred tax	-230700000	-369600000
9	Total tax expenses	621500000	1410000000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	2750500000	5721400000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	2750500000	5721400000
17	Other comprehensive income net of taxes	71200000	-35200000
18	Total Comprehensive Income for the period	2821700000	5686200000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	238300000	238300000
	Face value of equity share capital	2	2
27	Details of debt securities
22	Reserves excluding revaluation reserve		39439300000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	23.09	48.02
	Diluted earnings (loss) per share from continuing operations	23.09	48.02
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	23.09	48.02
	Diluted earnings (loss) per share from continuing and discontinued operations	23.09	48.02
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	9537100000
	Capital work-in-progress	815900000
	Investment property
	Goodwill	0
	Other intangible assets	230600000
	Intangible assets under development	11200000
	Biological assets other than bearer plants
	Investments accounted for using equity method	100000000
	Non-current financial assets
	Non-current investments	14000900000
	Trade receivables, non-current	1424600000
	Loans, non-current	116700000
	Other non-current financial assets	93900000
	Total non-current financial assets	15636100000
	Deferred tax assets (net)	906400000
	Other non-current assets	544900000
	Total non-current assets	27782200000
2	Current assets
	Inventories	3830500000
	Current financial asset
	Current investments	12954000000
	Trade receivables, current	16515500000
	Cash and cash equivalents	1181800000
	Bank balance other than cash and cash equivalents	21200000
	Loans, current	482000000
	Other current financial assets	8682200000
	Total current financial assets	39836700000
	Current tax assets (net)	908100000
	Other current assets
	Total current assets	44575300000
3	Non-current assets classified as held for sale	100000000
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	72457500000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	238300000
	Other equity	39439300000
	Total equity attributable to owners of parent	39677600000
	Non controlling interest
	Total equity	39677600000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	251800000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	525200000
	Total Trade payable	525200000
	Other non-current financial liabilities	36700000
	Total non-current financial liabilities	813700000
	Provisions, non-current	268200000
	Deferred tax liabilities (net)
	Deferred government grants, Non-current
	Other non-current liabilities
	Total non-current liabilities	1081900000
	Current liabilities
	Current financial liabilities
	Borrowings, current	593300000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	4720000000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	6333100000
	Total Trade payable	11053100000
	Other current financial liabilities	1223400000
	Total current financial liabilities	12869800000
	Other current liabilities	15838900000
	Provisions, current	2334600000
	Current tax liabilities (Net)	654700000
	Deferred government grants, Current
	Total current liabilities	31698000000
3	Liabilities directly associated with assets in disposal group classified as held for sale
4	Regulatory deferral account credit balances and related deferred tax liability
	Total liabilities	32779900000
	Total equity and liabilites	72457500000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets	null	null
	Net Segment Asset	null	null
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities	null	null
	Net Segment Liabilities	null	null
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Re-measurement gain/(loss) of defined benefit plan	48300000	-65000000
	Total Amount of items that will not be reclassified to profit and loss	48300000	-65000000
2	Income tax relating to items that will not be reclassified to profit or loss	12100000	-16400000
3	Amount of items that will be reclassified to profit and loss
1	Net gain on cash flow hedge	46800000	17900000
	Total Amount of items that will be reclassified to profit and loss	46800000	17900000
4	Income tax relating to items that will be reclassified to profit or loss	11800000	4500000
5	Total Other comprehensive income	71200000	-35200000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			7131400000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			314000000
	Adjustments for decrease (increase) in inventories			142800000
	Adjustments for decrease (increase) in trade receivables, current			-1935100000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			191800000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			-2418500000
	Adjustments for other financial assets, current			0
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			507500000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			1552300000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			783900000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			-568000000
	Adjustments for provisions, current			269100000
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			-50200000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			35100000
	Adjustments for dividend income			250000000
	Adjustments for interest income			489700000
	Adjustments for share-based payments			54300000
	Adjustments for fair value losses (gains)			-868100000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			-3400000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			-2732200000
	Net cash flows from (used in) operations			4399200000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			657500000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			3741700000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			2306500000
	Other cash receipts from sales of equity or debt instruments of other entities			780000000
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			20800000
	Purchase of property, plant and equipment			2698400000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			3800400000
	Cash receipts from repayment of advances and loans made to other parties			5113000000
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			510000000
	Interest received			250000000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			872100000
	Net cash flows from (used in) investing activities	-1259400000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			0
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			5548100000
	Repayments of borrowings			7781000000
	Payments of lease liabilities			14800000
	Dividends paid			1429500000
	Interest paid			259500000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-3936700000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			-1454400000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			-1454400000
	Cash and cash equivalents cash flow statement at beginning of period			2636200000
	Cash and cash equivalents cash flow statement at end of period			1181800000