Below are the financial statements of Thermax, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of INR | 2024 | 2023 |
|---|---|---|
| Income | — | — |
| Revenue from operations | 93,234.6a | 80,898.1a |
| Other income | 2,325.7a | 1,601.8a |
| Total income | 95,560.3a | 82,499.9a |
| Expenses | — | — |
| Cost of raw materials and components consumed | -50,915.6a | -44,427a |
| Purchase of traded goods | -1,629.9a | -1,527.3a |
| (Increase)/decrease in inventories of finished goods, work-in-progress and traded goods | -349.9a | -292.5a |
| Employee benefits expense | -11,482.9a | -9,553a |
| Finance cost | -875.9a | -375.9a |
| Depreciation, amortisation and impairment expense | -1,480.8a | -1,168.6a |
| Other expenses | -21,582.2a | -19,122.7a |
| Total expenses | -87,617.4a | -76,467a |
| Profit before tax and share of (loss) of associates | 7,942.9a | 6,032.9a |
| Share of (loss) of associates | -8.2a | -2.3a |
| Profit before exceptional items and tax | 7,934.7a | 6,030.6a |
| Exceptional items gain | 754.9a | 0a |
| Profit before tax | 8,689.6a | 6,030.6a |
| Tax expense | — | — |
| Current tax | -2,144.6a | -1,258.9a |
| Deferred tax (net) | -113.1a | -264.7a |
| Total tax expense | -2,257.7a | -1,523.6a |
| Profit for the year | 6,431.9a | 4,507a |
| Profit for the year attributable to | — | — |
| Equity holders of the parent | 6,452.8a | 4,502.9a |
| Non-controlling interest | -20.9a | 4.1a |
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