Thermax and Hindustan Petroleum Corporation have signed a Memorandum of Understanding (MoU) entering into a strategic collaboration with an aim to exchange scientific information, carry out joint research, and encourage demonstration & deployment in the field of HP AEM electrolysers, CO2 capture solutions, bio-pyrolysis oil processing and other emerging new energy areas. This collaboration will accelerate the deployment of indigenous, sustainable energy technologies and significantly advance the �Make in India� vision aligned with India`s energy transition and climate objectives.Commenting on the partnership, Ashish Bhandari, MD & CEO, Thermax said, India`s energy transition will be driven by strong partnerships, and this collaboration between Thermax and HPCL reflects that belief. Combining Thermax`s technology and product expertise with HPCL`s complementary R&D, operational excellence and scale, the partnership will advance solutions across green hydrogen, carbon capture and bio-based fuels-accelerating the journey from innovation to on-ground implementation. Powered by Capital Market - Live News

Thermax has received affirmation in credit ratings for bank facilities aggregating to Rs 5500 crore at CRISIL AA+; Stable / CRISIL A1+. Powered by Capital Market - Live News

Thermax announced that CareEdge Ratings has assigned a credit rating of CARE A1+ for the commercial papers of the company.Powered by Capital Market - Live News

Thermax will hold a meeting of the Board of Directors of the Company on 2 February 2026.Powered by Capital Market - Live News

Net profit of Thermax declined 39.27% to Rs 119.66 crore in the quarter ended September 2025 as against Rs 197.03 crore during the previous quarter ended September 2024. Sales declined 5.42% to Rs 2473.90 crore in the quarter ended September 2025 as against Rs 2615.69 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales2473.902615.69 -5 OPM %6.9510.63 - PBDT225.14308.32 -27 PBT173.67266.25 -35 NP119.66197.03 -39 Powered by Capital Market - Live News