Thermax

Market Cap

39,661.77 Cr

EPS

57.30

PE Ratio

64.23

Dividend Yield

0.36 %

Industry

Capital Goods

52 Week High

5,839.95

52 Week low

2,950.05

PB Ratio

8.60

Debt to Equity

0.25

Sector

Electrical Equipment

Investment Returns

In Long Term

In Short Term

1 Year

0.00%

2 Years

0.00%

3 Years

0.00%

4 Years

0.00%

5 Years

0.00%

Analyst Rating

- By Refinitiv from20 analysts

Analysts have suggested that investors can buy this stock

Buy35.00 %

35.00 %

Hold30.00 %

30.00 %

Sell35.00 %

35.00 %

Peer Comparison Compare Peers on Screener

Competitors	LTP	Market Cap (₹ Cr.)	P/E Ratio	Revenue (₹ Cr.)	YoY Revenue Growth %	Net Profit (₹ Cr.)	YoY Profit Growth %	RSI
Siemens	5,025.90	1,78,982.60	77.69	23,165.00	15.54	2,718	21.53	32.53
ABB	5,344.65	1,13,257.61	57.91	10,748.20	22.88	1,248	25.39	29.29
CG Power & Industrial Solutions	595.80	91,071.19	95.09	8,152.20	15.79	871	-68.18	43.01
Suzlon Energy	54.88	74,896.54	62.98	6,567.50	9.64	660	91.03	48.19
Bharat Heavy Electricals	200.17	69,700.46	130.94	24,439.00	2.45	282	123.38	43.88
Waaree Energies	2,309.30	66,342.31	44.99	11,632.80	69.56	1,274	260.01	42.45
Hitachi Energy	11,297.65	47,881.33	143.23	5,246.80	17.02	164	497.39	36.72
Premier Energies	986.15	44,453.11	59.05	3,171.30	116.74	231	490.74	45.71
Thermax	3,328.55	39,661.77	64.23	9,556.00	15.83	643	-52.05	43.03
GE Vernova T&D	1,425.45	36,498.15	71.98	3,190.50	13.66	181	189.45	25.48

Growth Rate

Revenue Growth

15.83 %

Net Income Growth

42.71 %

Cash Flow Change

-46.19 %

ROE

24.38 %

ROCE

21.85 %

EBITDA Margin (Avg.)

17.43 %

Quarterly Financial Results

Quarterly Financials	Jun 2015	Sept 2015	Dec 2015	Mar 2016	Jun 2016	Sept 2016	Dec 2016	Mar 2017	Jun 2017	Sept 2017	Dec 2017	Mar 2018	Jun 2018	Sept 2018	Dec 2018	Mar 2019	Jun 2019	Sept 2019	Dec 2019	Mar 2020	Jun 2020	Sept 2020	Dec 2020	Mar 2021	Jun 2021	Sept 2021	Dec 2021	Mar 2022	Jun 2022	Sept 2022	Dec 2022	Mar 2023	Jun 2023	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024
Revenue	1,248	1,277	1,202	1,541	1,002	1,106	969	1,520	896	1,057	1,141	1,488	1,067	1,463	1,468	2,126	1,414	1,628	1,436	1,354	686	1,164	1,439	1,610	1,078	1,506	1,644	2,028	1,675	2,115	2,092	2,369	1,986	2,368	2,509	2,819	2,269	2,671	2,539
Expenses	1,129	1,155	1,071	1,362	899	978	857	1,335	800	938	1,022	1,322	966	1,318	1,418	1,905	1,293	1,476	1,297	1,259	676	1,087	1,291	1,435	989	1,359	1,502	1,857	1,559	1,935	1,888	2,111	1,852	2,098	2,137	2,491	2,044	2,334	2,319
EBITDA	120	122	131	179	104	128	113	185	96	119	119	166	101	145	50	220	121	152	139	94	10	78	148	176	88	147	142	171	117	180	203	258	134	270	372	329	225	338	220
Operating Profit %	8 %	8 %	9 %	9 %	8 %	9 %	9 %	10 %	8 %	9 %	9 %	8 %	7 %	8 %	1 %	8 %	7 %	8 %	8 %	5 %	-2 %	5 %	8 %	9 %	6 %	7 %	7 %	7 %	6 %	7 %	8 %	9 %	4 %	9 %	8 %	10 %	6 %	11 %	8 %
Depreciation	18	18	19	17	19	20	20	23	19	19	21	24	21	24	23	25	26	28	32	31	28	29	29	29	27	27	29	30	29	30	29	29	29	33	36	50	36	42	35
Interest	3	4	3	3	3	2	2	3	2	5	3	4	3	4	4	4	4	4	2	5	4	5	6	6	5	5	5	10	7	8	9	14	13	20	27	28	28	29	29
Profit Before Tax	105	114	88	160	81	106	91	160	76	95	96	138	76	118	24	192	90	120	105	59	-23	44	113	140	56	114	108	132	81	142	165	214	92	218	309	251	161	266	156
Tax	51	55	34	46	32	27	38	124	36	38	38	63	27	43	-51	65	27	95	21	20	-7	13	30	33	14	26	29	29	22	33	39	58	32	59	72	63	52	68	43
Net Profit	55	59	54	114	49	78	54	35	40	57	59	76	49	75	75	127	63	26	85	39	-15	31	83	107	42	88	79	103	59	109	126	156	60	159	237	188	109	198	114
EPS in ₹	4.85	5.25	4.82	10.14	4.35	6.98	4.86	3.88	3.61	5.08	5.20	6.72	4.35	6.62	6.66	11.27	5.57	2.29	7.54	3.47	-1.36	2.78	7.39	9.53	3.77	7.80	7.06	9.10	5.23	9.70	11.20	13.85	5.23	14.00	21.17	16.90	10.28	17.49	10.29

Show % Change

Above figures are in Rs. Crores

Balance Sheet

Balance Sheet	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	6,089	5,181	5,061	5,945	6,800	5,956	6,507	7,461	8,839	10,153
Fixed Assets	1,431	827	811	973	1,312	1,283	1,242	1,195	1,248	1,906
Current Assets	4,185	3,610	3,297	4,102	4,737	3,977	4,467	4,738	6,072	6,448
Capital Work in Progress	43	60	141	103	40	56	24	44	434	525
Investments	822	1,050	1,083	1,472	829	875	235	1,477	1,626	1,765
Other Assets	3,793	3,244	3,025	3,397	4,619	3,742	5,006	4,746	5,531	5,957
Total Liabilities	6,089	5,181	5,061	5,945	6,800	5,956	6,507	7,461	8,839	10,153
Current Liabilities	3,274	2,615	2,365	3,079	3,654	2,787	3,071	3,758	4,409	4,725
Non Current Liabilities	591	150	156	152	132	141	185	211	559	988
Total Equity	2,224	2,416	2,539	2,715	3,014	3,028	3,251	3,493	3,870	4,440
Reserve & Surplus	2,123	2,394	2,515	2,692	2,992	3,005	3,229	3,470	3,846	4,417
Share Capital	24	23	23	23	23	23	23	23	23	23

Show % Change

Above figures are in Rs. Crores

Cash Flow

Cash Flow	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Cash Flow	39	13	110	7	85	-47	220	-115	144	19
Investing Activities	80	-127	-99	-507	266	-140	-627	-420	-664	-514
Operating Activities	311	253	335	534	-115	326	770	325	460	247
Financing Activities	-351	-112	-126	-20	-65	-232	77	-21	349	285

Show % Change

Above figures are in Rs. Crores

Share Holding

% Holding	Mar 2021	Jun 2021	Sept 2021	Dec 2021	Mar 2022	Jun 2022	Sept 2022	Dec 2022	Mar 2023	Jun 2023	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024
Promoter	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %	61.98 %
FIIs	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	12.24 %	15.15 %	15.38 %	15.49 %
DIIs	12.80 %	12.77 %	12.00 %	12.72 %	13.17 %	13.21 %	15.27 %	15.34 %	15.63 %	15.46 %	15.46 %	15.71 %	15.82 %	12.88 %	12.72 %	12.66 %
Government	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %	0.00 %
Public / Retail	4.61 %	4.52 %	4.38 %	4.37 %	4.22 %	4.08 %	4.01 %	4.09 %	3.84 %	3.91 %	3.74 %	3.83 %	3.71 %	3.78 %	3.73 %	3.67 %
Others	20.61 %	20.73 %	21.65 %	20.93 %	20.63 %	20.72 %	18.73 %	18.59 %	18.54 %	18.64 %	18.82 %	18.48 %	6.25 %	6.21 %	6.19 %	6.20 %
No of Share Holders	31,546	32,515	32,015	34,088	34,440	36,255	37,910	39,943	36,103	39,815	35,616	39,547	40,819	48,966	51,876	50,755