Thermax Ltd Board Approves Q1 FY27 Financial Results and Scheme of Arrangement

Thermax Limited's Board of Directors met on July 30, 2026, to approve the un-audited standalone and consolidated financial results for the quarter ended June 30, 2026. The board also approved a Scheme of Arrangement and Amalgamation involving its wholly-owned subsidiaries, Thermax Bioenergy Solutions Private Limited and Thermax Cooling Solutions Limited, with Thermax Limited as the resulting company. This scheme is subject to regulatory approvals, including from the National Company Law Tribunal (NCLT). The appointed date for the scheme is April 1, 2026, or as fixed by the NCLT. Assets and liabilities of the demerged and transferor companies will be transferred at carrying values, and inter-company balances will be cancelled. No new shares will be issued to Thermax Limited for its holdings in the subsidiaries upon the scheme's effectiveness.