Thermax wins court appeal, arbitral award set aside

Thermax Limited has informed the exchanges that the Bombay High Court pronounced its judgment today, December 9, 2025, setting aside an arbitral award dated June 5, 2023. This award was previously passed against Thermax in an arbitration matter between the company and a customer. The company had previously provided intimations regarding this matter on June 6, 2023, and October 10, 2023.

The company will submit the requisite details, as required under SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, in due course of time. This outcome represents a favorable resolution for Thermax in the aforementioned legal dispute.

The announcement was signed by Sangeet Hunjan, company secretary and compliance officer. The communication was addressed to both BSE Limited and the National Stock Exchange of India Limited.