Thermax shares soar over 5% on ₹115 crore investment in First Energy; Check details

This comes after the company invested ₹115 crore in First Energy Private Limited (FEPL), a wholly owned subsidiary, for further investment in First Energy 10 Private Limited (FE10), a wholly owned subsidiary of FEPL, it said in a regulatory filing on Tuesday.

The allotment of equity shares in respect of the said investment was completed on September 9 by FEPL and FE10.

With the allotment, Thermax acquired 11,50,00,000 equity shares of ₹10 each in FEPL, and subsequently, FEPL acquired 11,50,00,000 equity shares of ₹10 each in FE10. However, the acquisition didn’t lead to any change in the percentage of shareholding, it added.

The equity infused in FEPL is in connection with new projects proposed to be undertaken by FE10.

FE10 is a special-purpose vehicle (SPV) incorporated on March 23, 2024, for undertaking renewable energy projects.

FEPL is engaged in renewable energy and offers sustainable solutions, including solar, wind, wind-solar hybrid, and storage batteries in the commercial and industrial segments.

Thermax stock performance

At around 11:45 am, the scrip was trading 1.64% higher at ₹3,366.50 per equity share.

Thermax stock has gained 3.40% over the week and 4.43% over the month. However, it lost 4.45% over the past three months. On a year-to-date basis, the scrip declined 16.44%.

While the share reached a 52-week low of ₹2,950.05 on February 17, 2025, it hit a year’s high of ₹5,719 apiece on October 28, 2024.

Thermax has a total market capitalisation of ₹40,308.19 crore, as of September 10, 2025, according to data on the NSE.

Thermax Q1 result

The company reported a 38.53% year-on-year (YoY) increase in its consolidated net profit to ₹151 crore in the June quarter of FY26, compared to ₹109 crore in the same period last year.

Its revenue from operations declined 1.56% YoY to ₹2,150 crore during the quarter under review, as against ₹2,184 crore in the first quarter of FY25.