Thermax

3,239.10
+83.00
(2.63%)
ann
There are new updates from the company1 day ago
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Market Cap
38,595.90 Cr
EPS
57.30
PE Ratio
60.76
Dividend Yield
0.38 %
52 Week High
5,839.95
52 Week Low
2,950.05
PB Ratio
8.14
Debt to Equity
0.25
Add Ratio
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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
BUY
Analysts have suggested that investors can buy this stock
Buy
Buy+45.00 %
+45.00 %
Hold
Hold+30.00 %
+30.00 %
Sell
Sell+25.00 %
+25.00 %

Company News

View All News
Caret
positive
Thermax Reports Q4 Results and Dividend Announcement13 hours ago
Thermax has announced its Q4 financial results and dividend recommendation. The company's Q4 consolidated net profit increased to 2.05 billion rupees from 1.9 billion rupees year-over-year. Revenue rose to 30.8 billion rupees from 27.64 billion rupees in the same period. EBITDA improved to 2.99 billion rupees, though the EBITDA margin slightly decreased to 9.69%. The company has recommended a dividend of 14 rupees per equity share.
positive
Thermax Increases Stake in Subsidiary Thermax Bioenergy Solutions2 days ago
Thermax has increased its equity stake in its subsidiary, Thermax Bioenergy Solutions Pvt Ltd (TBSPL), from 65% to 76.97%. This was achieved by subscribing to 1.3 crore new equity shares at ₹10 each.
Competitors
LTP
Market Cap (₹ Cr.)
P/E Ratio
Revenue (₹ Cr.)
YoY Revenue Growth %
Net Profit (₹ Cr.)
YoY Profit Growth %
RSI
5,440.50
#1 1,15,288.80
59.56
12,541.70
16.69
1,875
25.39
50.50
2,857.20
1,01,750.75
44.44
23,165.00
15.54
#1 2,718
21.53
53.60
609.60
93,199.88
95.57
8,152.20
15.79
871
17.32
47.60
216.63
75,431.94
145.87
#1 24,439.00
2.45
282
123.38
47.22
2,594.00
74,521.26
#1 40.08
11,632.80
69.56
1,274
35.63
54.44
52.67
71,886.05
61.88
6,567.50
9.64
660
91.03
40.04
15,080.00
67,215.12
207.73
5,246.80
17.02
164
#1 497.39
70.46
945.65
42,627.48
55.84
3,171.30
#1 116.74
231
490.74
47.21
1,653.00
42,324.49
85.73
3,190.50
13.66
181
189.45
63.73
3,239.10
#10 38,595.90
#5 60.76
#5 9,556.00
#5 15.83
#6 643
#10 9.59
44.75
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
Mar 2025
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
3,163
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
2,785
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
377
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 %
10 %
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
45
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
31
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
301
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
95
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
206
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
18.27

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

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

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
Mar 2025
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 %
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 %
15.86 %
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 %
12.25 %
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 %
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 %
3.71 %
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 %
6.19 %
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
53,687

Dividend History

Dividends per share (FY)
Dividend yield (FY) %
Dividends per share (FY)
Dividend yield (FY) %
Annual Cash Flows 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Dividend Per Share (₹) 0.00 6 6 7 7 7 9 10 12 0.00
Dividend Yield (%) 0.00 0.53 0.62 0.95 0.52 0.36 0.4 0.24 0.33 0.00

Corporate Action

Record Date Corporate Action Information Announcement Day LTP at Annoucement LTP at Record Day
09 May 2025 QUARTERLY RESULT ANNOUNCEMENT Quarterly Result Announcement
NA
09 May 2025 3,366.40 3,156.10
04 Feb 2025 QUARTERLY RESULT ANNOUNCEMENT Quarterly Result Announcement
NA
04 Feb 2025 3,900.10 3,576.05
13 Nov 2024 QUARTERLY RESULT ANNOUNCEMENT Quarterly Result Announcement
NA
13 Nov 2024 5,149.35 5,111.70
01 Aug 2024 ANNUAL GENERAL MEETING Annual General Meeting
NA
01 Aug 2024 5,619.25 5,071.80
05 Jul 2024 DIVIDEND Dividend
₹ 12.00 /share
05 Jul 2024 4,486.45 5,289.00
21 Jul 2023 DIVIDEND Dividend
₹ 10.00 /share
21 Jul 2023 2,429.80 2,432.60
22 Jul 2022 DIVIDEND Dividend
₹ 9.00 /share
21 Jul 2022 2,139.45 2,185.45
23 Jul 2021 DIVIDEND Dividend
₹ 7.00 /share
22 Jul 2021 1,408.95 1,425.35

Announcements

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation9 hours ago
Announcement Under Regulation 30 Of SEBI (LODR) Regulations 20159 hours ago
Announcement under Regulation 30 (LODR)-Investor Presentation11 hours ago
Announcement under Regulation 30 (LODR)-Change in Directorate13 hours ago
Announcement under Regulation 30 (LODR)-Change in Management13 hours ago
Announcement Under Regulation 3013 hours ago
Intimation Of Record Date13 hours ago
Corporate Action-Board approves Dividend13 hours ago
Results Of Thermax Limited For Quarter And Year Ended March 31 202513 hours ago
Board Meeting Outcome for Outcome Of The Board Meeting13 hours ago
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS1 day ago
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation2 days ago
Announcement under Regulation 30 (LODR)-Acquisition2 days ago
Announcement Under Regulation 30 Of SEBI (LODR) Regulations 20158 days ago
Announcement under Regulation 30 (LODR)-Credit RatingApr 28, 2025
Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance OfficerApr 18, 2025
Board Meeting Intimation for Audited Financial Results For Quarter And Year Ended March 31 2025 And Recommend Final Dividend For FY 2024-25 If Any.Apr 17, 2025
Announcement under Regulation 30 (LODR)-Updates on AcquisitionApr 11, 2025
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Apr 04, 2025
Announcement under Regulation 30 (LODR)-RestructuringApr 03, 2025
Closure of Trading WindowMar 27, 2025
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/sMar 20, 2025
Board Meeting Outcome for Outcome Of Board Meeting - Appointment Of Statutory AuditorsMar 20, 2025
Announcement under Regulation 30 (LODR)-Memorandum of Understanding /AgreementsMar 10, 2025
Announcement under Regulation 30 (LODR)-RestructuringMar 03, 2025
Announcement under Regulation 30 (LODR)-Change in DirectorateFeb 18, 2025
Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportFeb 18, 2025
Announcement under Regulation 30 (LODR)-Earnings Call TranscriptFeb 11, 2025
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeFeb 07, 2025
Announcement under Regulation 30 (LODR)-Newspaper PublicationFeb 05, 2025
Announcement under Regulation 30 (LODR)-Investor PresentationFeb 04, 2025
Integrated Filing (Financial)Feb 04, 2025
Announcement Under Regulation 30 Of SEBI (LODR) Regulations 2015.Feb 04, 2025
Results Of Thermax Limited For Quarter And Nine Months Ended December 31 2024Feb 04, 2025
Board Meeting Outcome for Outcome Of The Board MeetingFeb 04, 2025
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJan 30, 2025
Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance OfficerJan 21, 2025
Announcement under Regulation 30 (LODR)-Newspaper PublicationJan 16, 2025
Shareholder Meeting / Postal Ballot-Notice of Postal BallotJan 15, 2025
Integrated Filing (Governance)Jan 13, 2025
Board Meeting Intimation for Approval Of Un-Audited Standalone And Consolidated Financial Statements For Quarter And Nine Months Ended December 31 2024.Jan 10, 2025
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jan 07, 2025
Closure of Trading WindowDec 27, 2024
Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate CertificateDec 27, 2024
Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate CertificateDec 13, 2024
Announcement under Regulation 30 (LODR)-Change in DirectorateDec 12, 2024
Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate CertificateDec 06, 2024
Announcement under Regulation 30 (LODR)-Change in ManagementNov 30, 2024
Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate CertificateNov 21, 2024
Announcement under Regulation 30 (LODR)-Earnings Call TranscriptNov 19, 2024

Technical Indicators

RSI(14)
Neutral
44.75
ATR(14)
Volatile
144.60
STOCH(9,6)
Oversold
11.83
STOCH RSI(14)
Oversold
10.62
MACD(12,26)
Bearish
-19.35
ADX(14)
Weak Trend
13.24
UO(9)
Bearish
47.55
ROC(12)
Downtrend But Slowing Down
-6.08
WillR(14)
Neutral
-76.14

About Thermax

Thermax Group is an Indian company founded in 1966 and headquartered in Pune. It specializes in integrated solutions for heating, cooling, power generation, water treatment, air pollution control, and chemicals. The company operates globally with 34 international and 22 domestic offices, and 14 manufacturing facilities across India, Europe, and Southeast Asia. Thermax offers services including operations and maintenance, retrofitting, revamping, upgrading, and auditing. It has expanded into digital solutions for asset lifecycle management. The company is structured into four main segments: Industrial Products, Industrial Infra, Green Solutions, and Chemical. These segments cover a range of products and services including boilers, chillers, pollution control systems, water treatment, power plants, and specialty chemicals. Thermax has a focus on clean energy, air, and water solutions, and has recently expanded into renewable energy offerings including solar, wind, and bio-CNG projects.
Chairperson NameMeher P Pudumjee