Thermax Limited. (IN:THERMAX)
:THERMAX
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THERMAX Stock Chart & Stats
₹3069.65
-₹115.10(-2.81%)
At close: 4:00 PM EST
₹3069.65
-₹115.10(-2.81%)
Day’s Range― - ―
52-Week Range₹2,744.20 - ₹5,069.00
Previous CloseN/A
Volume51.58K
Average Volume (3M)4.51K
Market Cap
₹565.09B
Enterprise Value₹572.91B
Total Cash (Recent Filing)₹25.93B
Total Debt (Recent Filing)₹18.11B
Price to Earnings (P/E)74.1
Beta0.77
Next Earnings
Jul 30, 2026EPS Estimate
14.32Next Dividend Ex-DateN/A
Dividend Yield0.48%
Share Statistics
EPS (TTM)52.71
Shares Outstanding119,156,300
10 Day Avg. Volume3,560
30 Day Avg. Volume4,507
Financial Highlights & Ratios
PEG Ratio3.77
Price to Book (P/B)6.62
Price to Sales (P/S)3.44
P/FCF Ratio-84.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)76.63
Revenue Forecast (FY)₹125.11B
Bulls Say, Bears Say
Bulls Say
Diversified Revenue Mix & Recurring ServicesThermax’s business combines engineered equipment sales, EPC project execution and recurring aftermarket/O&M services. This vertical mix builds an installed base that generates repeat service revenue, smoothing cycles and providing durable cash streams over a 2–6 month to multi-year horizon.
Steady Multi-year Revenue GrowthConsistent top-line growth indicates sustained demand across industrial heating, cooling and environmental solutions. Even with moderating pace, steady revenue expansion supports operational scale, long-term customer relationships and the company’s ability to invest in product and project capabilities.
Generally Healthy Balance Sheet And Stable ROEModerate leverage alongside growing equity and a stable ~13% ROE provide financial flexibility for project execution and selective investment. A well-capitalized profile supports bidding on EPC contracts and sustaining operations through capex cycles, reducing structural financial risk.
Bears Say
Choppy And Negative Free Cash FlowNegative and volatile free cash flow weakens the company’s ability to self-fund projects, pay down debt, or increase shareholder returns. Persistent working-capital needs or elevated capex that depress FCF reduce financial optionality and increase reliance on external funding if the pattern persists.
Sharp Gross Margin DeteriorationA large drop in gross margin signals material mix shifts, input-cost pressure or one-offs that undermine earnings quality. If structural, margin compression limits operating leverage, reduces cash generation and raises execution risk on fixed-price EPC work, harming long-term profitability stability.
Rising Leverage TrendThe clear upward trend in debt-to-equity increases interest and refinancing risk, particularly if margins and cash conversion remain volatile. Higher leverage reduces strategic flexibility for bidding on large projects and raises sensitivity to demand slowdowns and interest-rate moves over the medium term.
Thermax Limited. News
THERMAX FAQ
What was Thermax Limited.’s price range in the past 12 months?
Thermax Limited. lowest stock price was ₹2744.20 and its highest was ₹5069.00 in the past 12 months.
What is Thermax Limited.’s market cap?
Thermax Limited.’s market cap is ₹565.09B.
When is Thermax Limited.’s upcoming earnings report date?
Thermax Limited.’s upcoming earnings report date is Jul 30, 2026 which is in 50 days.
How were Thermax Limited.’s earnings last quarter?
Thermax Limited. released its earnings results on May 07, 2026. The company reported ₹21 earnings per share for the quarter, beating the consensus estimate of ₹16.411 by ₹4.589.
Is Thermax Limited. overvalued?
According to Wall Street analysts Thermax Limited.’s price is currently Overvalued.
Does Thermax Limited. pay dividends?
Thermax Limited. pays a Annually dividend of ₹20 which represents an annual dividend yield of 0.48%. See more information on Thermax Limited. dividends here
What is Thermax Limited.’s EPS estimate?
Thermax Limited.’s EPS estimate is 14.32.
How many shares outstanding does Thermax Limited. have?
Thermax Limited. has 119,156,300 shares outstanding.
What happened to Thermax Limited.’s price movement after its last earnings report?
Thermax Limited. reported an EPS of ₹21 in its last earnings report, beating expectations of ₹16.411. Following the earnings report the stock price went up 2.559%.
Which hedge fund is a major shareholder of Thermax Limited.?
Currently, no hedge funds are holding shares in IN:THERMAX
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
Company Description
Thermax Limited.
Thermax Limited, an Indian company with a significant global presence and its headquarters in Pune, specializes in delivering comprehensive solutions across the energy, environmental, and chemical sectors. The company operates through three principal divisions: Energy, Environment, and Chemical. Within its extensive Energy portfolio, Thermax provides a diverse range of products and services. This includes advanced heating and cooling technologies such as vapor absorption and hybrid chillers, heat pumps, and heat transformers, along with various evaporative and adiabatic condensers, cooling towers, and air-cooled heat exchangers. The company also undertakes Engineering, Procurement, and Construction (EPC) for complex projects like cogen/trigen power plants, bio-CNG facilities, waste heat recovery systems, and refinery process units, in addition to offering renewable energy solutions. Its wide selection of boiler systems encompasses oil, gas, solid fuel, and waste-to-energy fired units, high-pressure boilers, heat recovery boilers, fired heaters, process furnaces, thermal oil heaters, and integrated energy plants, all supported by specialized services. The Environment division focuses on tackling ecological challenges by offering sophisticated air pollution control measures and comprehensive solutions for water and waste management. Finally, the Chemical segment manufactures and supplies a variety of specialized chemical products, including ion exchange resins and tailored treatments for water, fuel, oil field operations, and construction applications. Thermax serves an exceptionally broad and varied client base across numerous industries, including agriculture, automotive, aviation, cement, commercial construction, engineering, food & beverages, healthcare, IT, manufacturing, metals, oil & gas, pharmaceuticals, power generation, renewable energy, telecommunications, and textiles, among many others. Founded in 1966, Thermax Limited is a subsidiary of RDA Holdings Private Limited.
Technical Analysis
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