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 - ₹4,303.55
Previous CloseN/A
Volume51.58K
Average Volume (3M)4.51K
Market Cap
₹477.49B
Enterprise Value₹464.21B
Total Cash (Recent Filing)₹25.93B
Total Debt (Recent Filing)₹18.11B
Price to Earnings (P/E)41.7
Beta0.76
Next Earnings
May 27, 2026EPS Estimate
16.41Next Dividend Ex-DateN/A
Dividend Yield0.48%
Share Statistics
EPS (TTM)14.25
Shares Outstanding119,156,300
10 Day Avg. Volume3,560
30 Day Avg. Volume4,507
Financial Highlights & Ratios
PEG Ratio-37.24
Price to Book (P/B)8.10
Price to Sales (P/S)3.90
P/FCF Ratio285.46
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)73.34
Revenue Forecast (FY)₹122.64B
Bulls Say, Bears Say
Bulls Say
Consistent Revenue Growth & Stable MarginsThermax's documented robust revenue growth and stable net margins reflect durable demand for energy, environmental and industrial utility solutions. Consistent top-line expansion with margin stability supports repeat project wins, aftermarket revenue and reinvestment capacity over a multi-quarter horizon.
Free Cash Flow TurnaroundThe shift from negative to positive free cash flow signals structurally improved cash conversion from operations. Positive FCF enhances the company's ability to fund capex, service working capital for EPC cycles, and support aftermarket investments, reducing reliance on external financing over coming quarters.
Solid Balance Sheet & Healthy ROEModerate leverage and a strong equity base give Thermax financial flexibility to underwrite turnkey projects and absorb execution timing risks. Healthy ROE indicates efficient capital deployment, supporting sustainable returns and the ability to bid on larger, multi-period contracts without immediately straining capital.
Bears Say
Rising Total LiabilitiesGrowing liabilities increase capital structure risk and could raise financing costs, especially if project cash flows slip. For an EPC and equipment supplier, higher liabilities reduce buffer for project overruns and working-capital swings, constraining strategic flexibility across the next several quarters.
Volatile Free Cash Flow GrowthVolatility in FCF growth points to uneven project receipts, timing of capex and working capital swings common in turnkey businesses. This unpredictability complicates funding for maintenance, service expansion and debt reduction, increasing execution and liquidity risk during slower order or execution periods.
EBITDA Margin FluctuationsVariability in EBITDA margins suggests sensitivity to project mix, raw-material or labor cost swings and execution efficiency. Persistent fluctuations can erode long-term profitability on EPC contracts and pressure aftermarket margins, making earnings less predictable across the business cycle.
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 ₹4303.55 in the past 12 months.
What is Thermax Limited.’s market cap?
Thermax Limited.’s market cap is ₹477.49B.
When is Thermax Limited.’s upcoming earnings report date?
Thermax Limited.’s upcoming earnings report date is May 27, 2026 which is in 31 days.
How were Thermax Limited.’s earnings last quarter?
Thermax Limited. released its earnings results on Feb 02, 2026. The company reported ₹14.25 earnings per share for the quarter, beating the consensus estimate of ₹12.49 by ₹1.76.
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 ₹14 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 16.41.
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 ₹14.25 in its last earnings report, beating expectations of ₹12.49. Following the earnings report the stock price went down -1.806%.
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 provides energy, environment, and chemical solutions in India and internationally. It operates through three segments: Energy, Environment, and Chemical. The company offers vapor absorption and hybrid chillers, heat pumps, chiller-heaters, and heat transformers; evaporative condensers, closed loop cooling towers, adiabatic and dry coolers, radiators, and air cooled heat exchangers and condensers; EPC solutions, such as cogen or trigen power plants, air cooled condensers, bio-CNG plants, waste heat recovery power plants, and refinery process units; and renewable energy solutions. It also provides oil and gas fired boilers, heat recovery boilers and systems, high pressure boilers, lean gas and solid fuel fired boilers, hot water generators, waste to energy boilers, fired heaters and process furnaces, waste heat recovery units, thermal oil heaters and vaporizers, hot water and air generators, energy plants, and packaged and modular units, as well as specialized services. In addition, the company offers air pollution control and water and waste solutions; and chemicals, such as ion exchange resins, water and fuel treatment chemicals, oil field chemicals, and construction chemicals. It serves agriculture, automobiles and auto components, aviation, biotechnology, cement, commercial/construction, engineering and capital goods, as well as food and beverages, fast moving consumer goods, healthcare, hospitality, infrastructure, IT and datacenter, manufacturing, medical devices, metals, oil and gas, paper and pulp, pharmaceuticals, power, renewable energy, rubber, telecommunications, textiles, and wood industries. The company was founded in 1966 and is headquartered in Pune, India. Thermax Limited is a subsidiary of RDA Holdings Private Limited.
Technical Analysis
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