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THERMAX Stock Chart & Stats
₹4517.50
-₹67.00(-1.48%)
At close: 4:00 PM EDT
₹4517.50
-₹67.00(-1.48%)
Day’s Range― - ―
52-Week Range₹2,744.20 - ₹5,277.00
Previous CloseN/A
Volume152.39K
Average Volume (3M)4.51K
Market Cap
₹486.83B
Enterprise Value₹369.58K
Total Cash (Recent Filing)₹24.67B
Total Debt (Recent Filing)₹23.53B
Price to Earnings (P/E)77.5
Beta0.65
Next Earnings
Nov 05, 2026EPS Estimate
14.27Next Dividend Ex-DateN/A
Dividend Yield0.5%
Share Statistics
EPS (TTM)63.95
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)65.45
Revenue Forecast (FY)₹122.25B
Bulls Say, Bears Say
Bulls Say
Diversified, Recurring Business ModelThermax combines product sales, EPC project execution and aftermarket O&M/spares, producing both upfront project revenue and recurring service cash flows. This mix supports revenue stability across cycles, increases lifetime customer value, and strengthens long-term cash visibility compared with pure equipment sellers.
Consistent Revenue Growth TrendA multi-year positive revenue trajectory indicates sustained demand for energy, environmental and utility solutions. Even as growth moderates, steady top-line expansion supports capacity utilization, backlog conversion and serviceable installed base growth that can underpin margins and aftermarket revenue over months to years.
Generally Healthy Balance Sheet And Stable ReturnsModerate leverage with rising equity and stable ~13% ROE signals the company is well-capitalized to fund projects and working capital needs. This financial flexibility supports execution of capital-intensive EPC contracts and investment in service capabilities that sustain competitive positioning over the medium term.
Bears Say
Weak And Volatile Cash GenerationNegative and choppy free cash flow reflects higher working capital needs or elevated capex, undermining earnings quality and reducing internal funding for growth or deleveraging. Persistent cash conversion weakness constrains durable financial flexibility and raises refinancing or dividend sustainability risks.
Sharp Gross-margin VolatilityA dramatic drop in gross margin signals exposure to project mix, input-cost swings or contract issues, which reduces predictability of operating profits. Margin instability weakens the firm’s ability to cover fixed costs, invest in growth, and maintain consistent returns during cyclical downswings.
Rising Leverage TrendProgressively higher leverage reduces financial headroom and increases interest obligations, making the firm more sensitive to margin shocks or cash-flow volatility. If cash conversion remains weak, higher debt could constrain bidding on large EPC projects and limit strategic investments 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 ₹5277.00 in the past 12 months.
What is Thermax Limited.’s market cap?
Thermax Limited.’s market cap is ₹486.83B.
When is Thermax Limited.’s upcoming earnings report date?
Thermax Limited.’s upcoming earnings report date is Nov 05, 2026 which is in 83 days.
How were Thermax Limited.’s earnings last quarter?
Thermax Limited. released its earnings results on Jul 30, 2026. The company reported ₹2 earnings per share for the quarter, missing the consensus estimate of ₹13.807 by -₹11.807.
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 0.5%. See more information on Thermax Limited. dividends here
What is Thermax Limited.’s EPS estimate?
Thermax Limited.’s EPS estimate is 14.27.
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 ₹2 in its last earnings report, missing expectations of ₹13.807. Following the earnings report the stock price went down -2.816%.
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, environmental, and chemical solutions in India and internationally. It operates in Industrial Products, Industrial Infra, Green Solutions, and Chemical segments. The Industrial Products segment offers manufacturing, installation, sales and services related to boilers and heating equipment, absorption chillers/heat pumps, air pollution control equipment/ systems, water & waste recycling, including associated services and engineering, procurement and construction. The Industrial Infra segment provides engineering, procurement, and construction (EPC) of power plants, infra projects, and flue gas desulphurisation projects, along with associated services and manufacturing, installation, sales and services related to boiler and heater plants. The Green solutions segment builds, owns and operates BOO models, energy management solutions, oil and gas-fired, green hydrogen projects and renewable energy (Solar/Wind). The Chemical segment offers manufacturing, installation, sales and services related to ion exchange resins, performance chemicals, construction chemicals, water treatment chemicals, oil field chemicals, paper and construction chemicals, and related services. It also operates cogeneration, waste heat recovery power, captive power, and independent power plants, as well as offers operation and maintenance services. In addition, the company offers steam boilers; waste heat recovery units; fired heaters and process furnaces; thermic fluid, hot air, and hot water heaters; and waste heat recovery. It serves automobiles, cement, chemicals and fertilizers, commercial/construction, dairy, distillery, paper and pulp, pharmaceuticals, plywood, power generation, food, refineries and petrochemicals, soft beverages, metals, sugar, textiles, and tyre industries. Thermax Limited was incorporated in 1966 and is headquartered in Pune, India. Thermax Limited is a subsidiary of RDA Holdings Private Limited.
Technical Analysis
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