Thermax Bags Mega Rs. 1,600 Crore Order

On Monday, March 30, 2026, Thermax shares were trading at Rs. 3,154.30 as of 10:15 AM, down Rs. 40.20 (-1.26 per cent) from the previous close. The stock has delivered 3.11 per cent returns year-to-date. The company has a market capitalization of Rs. 37,939 crore.

Thermax secured a boiler package supply order worth approximately Rs. 1,600 crore
Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a wholly owned subsidiary of Thermax Limited, has secured a boiler package supply order worth approximately Rs. 1,600 crore from a thermal power projects company in Central India. The order is for a 1x800 MW ultra-supercritical thermal power plant. Ultra-supercritical technology operates at higher pressures and temperatures compared to conventional thermal plants. These systems can achieve thermal efficiency levels of 45-46 per cent, which means they use approximately 15-20 per cent less coal per unit of electricity generated. This also results in lower CO2 emissions.
The scope of work includes manufacturing, supply, supervision of installation and commissioning, and performance testing of the boiler package. The execution will follow the project milestones and delivery schedules mentioned in the contract. This order is important for Thermax as it enters the large-scale utility boiler segment. The company will need to handle the engineering, manufacturing, and quality control requirements of an 800 MW ultra-supercritical unit. The order also shows that Thermax can compete in this segment, which has been dominated by a few global players.
India is adding more thermal power capacity with a focus on high-efficiency technologies. This is part of the country's effort to meet growing energy demands while meeting environmental requirements. The power sector is currently seeing renewed interest in thermal capacity addition, particularly with technologies that offer better efficiency and lower environmental impact.

Management Commentary
Ashish Bhandari, MD & CEO of Thermax, said: "This order marks a significant breakthrough for Thermax and reinforces our proven capabilities in large-scale energy solutions. We thank our customers for their trust in Thermax and look forward to delivering this project with accelerated timelines and successful execution."

About the Company
Thermax Limited is a company in the energy and environment space. Thermax's portfolio includes clean air, clean energy, clean water, and chemical solutions. The company has industry partnerships across multiple sectors and provides services in audit, consulting, execution, and maintenance, along with digital solutions. Thermax operates 16 manufacturing facilities across India, Europe, and Southeast Asia and has 45+ Indian and international subsidiaries.

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Disclaimer: The article is for informational purposes only and not investment advice.