A Weak Q2 For Thermax | Expect Industrial Infrastructure Biz To See Improvement From Q3, Says Co
CNBC-TV18 · 06 Nov 2026 · 8 min
Management interview of Thermax Ltd (THERMAX), with 2 key numbers discussed.
- Ashish Bhandari, MD & CEO, Thermax
Thermax faced a difficult Q2 due to geopolitical-related supply chain disruptions, logistical bottlenecks that delayed profitable export shipments, and commodity price inflation. However, management expects performance to improve significantly from Q3 as inventory clearances begin. The company holds a strong order backlog of Rs 14,300 cr, which is anticipated to support revenue and absolute profitability growth in the second half. Segmentally, Industrial Infrastructure and Industrial Products are both projected to rebound starting Q3.