Commissioned a 60 TR steam-driven vapour absorption chiller for a rubber glove manufacturer in Sri Lanka.
Supplied a 30 KLD Zero Liquid Discharge solution for an auto component manufacturer.
Commissioned a first-of-its-kind multi-utility plant in Thailand generating steam and thermic fluid heat from a single source.
Commissioned multiple high-capacity Waste Heat Recovery ESPs for 650 TPD kiln lines in the steel sector.
TBWES secured an order for a large CFBC boiler for a captive power project in East India.
TBWES delivered a fuel-flexible 60 TPH Flexisource boiler for the paper industry.
Commissioned a 4.9 MW biomass-based multi-utility plant in Thailand.
TOESL commissioned a 12 TPH biomass boiler in Coimbatore, reducing ~11,000 tonnes of CO₂ annually.
For the 60 MW Trichy wind project, 12 out of 17 WTGs and transmission are completed.
For the 100 MW Karur wind project, foundations are completed for 10 out of 17 WTGs.
The 9.1 MWp Tuticorin solar expansion is nearing commissioning.
A CBG plant successfully completed PGTR, achieving 22+ TPD production against a 20 TPD guarantee.
For a hybrid project in Jafrabad, Gujarat, PSS charging was successful, 69.5 MWp solar modules were installed, and 12 out of 21 WTGs were erected.
Key drivers of operational performance: Project executions and commissioning across global energy and environment solutions, alongside new order wins in boilers and green solutions.
Segment-wise Performance
Industrial Products: Sales ₹1,058 crore (up 11.4% YoY), PBIT ₹64 crore (PBIT margin 6.1%, down from 8.3% YoY).
Industrial Infra: Sales ₹814 crore (down 2.9% YoY), PBIT ₹(71) crore (PBIT margin -8.7%, down from 9.9% YoY).
Chemicals: Sales ₹230 crore (up 32.9% YoY), PBIT ₹26 crore (PBIT margin 11.2%, up from 9.3% YoY).
Green Solutions: Sales ₹245 crore (up 2.9% YoY), PBT ₹(17) crore (PBT margin -6.9%, down from -2.2% YoY).
Explanation of significant changes in segment performance: Industrial Infra performance was severely impacted by a ₹91 crore cost overrun on a specific project. Industrial Products margins were impacted by higher input costs and reduced export sales. Chemicals profitability improved due to higher volumes and a better product mix. Green Solutions margins were impacted by project overrun costs.
PBT % (Before Exceptional Items): 1.8% (down from 9.8% YoY).
PAT: ₹22 crore (down 85.4% YoY).
PAT %: 0.9% (down from 7.0% YoY).
EPS: Not Specified.
YoY/QoQ comparison: Revenue increased 6.7% YoY but Profit After Tax decreased 85.4% YoY.
Drivers of financial performance: The lower profit was predominantly due to a ₹91 crore cost overrun provision for a project in the Industrial Infra segment. This was partially offset by higher revenue and improved performance in the Chemicals segment.
Key Risks: Disclosed risks include business risks from the volatile global economic environment, political conditions, compliance costs, market acceptance of new products, changes in governmental regulations, and currency exchange rates.
Geographical Revenue Split
Domestic vs Export Revenue: Not Specified.
Balance Sheet Snapshot
Net Debt/Equity: Not Specified.
Reserves: Not Specified.
Current Assets/Liabilities: Not Specified.
Working Capital/Leverage Metrics: Not Specified.
Financial Health Insights: Not Specified.
Capex & Cash Flow Health
Capital Expenditure: Not Specified.
Free Cash Flow: Not Specified.
Operating Cash Flow: Not Specified.
Net Debt Movement: Not Specified.
Investment Rationale: Not Specified.
Strategic & R&D Initiatives
Investments in multi-utility plants, fuel-flexible boilers, biomass solutions, wind and solar power projects, and CBG plants.
Expected impact on growth: Not Specified.
Strategic Rationale: Focus on providing sustainable solutions in energy and the environment to enhance efficiency and reduce fossil fuel dependence for clients.
Industry Trends & Business Environment
Macro/Industry Trends: Flat and structural steel prices hardened; non-ferrous metals saw significant price volatility; US dollar–Indian rupee movements increased imported material costs; India's Manufacturing PMI remained in expansion (54.7 in April, 55.0 in May, 54.2 in June); data center investment is accelerating; global manufacturing remains expansionary; West Asia conflict dampens trade sentiment and regional capex.
Impact on Company: Input cost volatility and currency movements increased cost pressures. Strong PMI indicates sustained manufacturing growth, supporting demand. Data centers are noted as a high-potential growth sector.
Management Commentary & Growth Outlook
Strategic Outlook: The company aims to be a globally respected high-performance organisation offering sustainable solutions.
FY Guidance: Not Specified.
Market Share Targets: Not Specified.
Risks and Opportunities: The outlook notes risks from the volatile global economic environment, political conditions, and currency exchange rates.
