THERMAX - Thermax Ltd. Share Price
Electrical Equipment
Valuation | |
|---|---|
| Market Cap | 41.14 kCr |
| Price/Earnings (Trailing) | 57.95 |
| Price/Sales (Trailing) | 3.89 |
| EV/EBITDA | 34.61 |
| Price/Free Cashflow | 293.62 |
| MarketCap/EBT | 44.02 |
| Enterprise Value | 42.42 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 10.59 kCr |
| Rev. Growth (Yr) | -2.3% |
| Earnings (TTM) | 668.73 Cr |
| Earnings Growth (Yr) | 38.4% |
Profitability | |
|---|---|
| Operating Margin | 9% |
| EBT Margin | 9% |
| Return on Equity | 13.53% |
| Return on Assets | 5.56% |
| Free Cashflow Yield | 0.34% |
Price to Sales Ratio
Revenue (Last 12 mths)
Net Income (Last 12 mths)
Growth & Returns | |
|---|---|
| Price Change 1W | -10% |
| Price Change 1M | 0.20% |
| Price Change 6M | 1.9% |
| Price Change 1Y | -22.4% |
| 3Y Cumulative Return | 18.7% |
| 5Y Cumulative Return | 35.7% |
| 7Y Cumulative Return | 17.1% |
| 10Y Cumulative Return | 12.7% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -1.24 kCr |
| Cash Flow from Operations (TTM) | 1.04 kCr |
| Cash Flow from Financing (TTM) | 123.55 Cr |
| Cash & Equivalents | 417.68 Cr |
| Free Cash Flow (TTM) | 140.12 Cr |
| Free Cash Flow/Share (TTM) | 11.76 |
Balance Sheet | |
|---|---|
| Total Assets | 12.04 kCr |
| Total Liabilities | 7.1 kCr |
| Shareholder Equity | 4.94 kCr |
| Current Assets | 7.31 kCr |
| Current Liabilities | 5.64 kCr |
| Net PPE | 2.62 kCr |
| Inventory | 720.3 Cr |
| Goodwill | 80.19 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.14 |
| Debt/Equity | 0.34 |
| Interest Coverage | 6.82 |
| Interest/Cashflow Ops | 9.73 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 14 |
| Dividend Yield | 0.41% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
Risk & Volatility | |
|---|---|
| Max Drawdown | -8.3% |
| Drawdown Prob. (30d, 5Y) | 17.69% |
| Risk Level (5Y) | 30.7% |
Latest News and Updates from Thermax
Updated May 5, 2025
The Bad News
Thermax's stock has experienced a significant decline of over 40% since the COVID-19 pandemic, reflecting ongoing project losses and slower growth.
The company is at risk of being removed from the MSCI India Standard Index, which could result in an estimated passive fund outflow of $120 million.
Currently trading 2.04% lower, Thermax has seen a decline of 18.53% this year, highlighting its struggle in the current market environment.
The Good News
Thermax has shown remarkable growth over a longer time frame, with a 351.36% increase over five years.
Despite current market challenges, Thermax's historical strengths in engineering and product quality remain a cornerstone of its reputation.
Foreign Institutional Investor holdings in Thermax have increased to 15.86%, indicating continued interest from international investors.
Updates from Thermax
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Summary of Latest Earnings Report from Thermax
Summary of Thermax's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated:
Last updated:
Revenue Breakdown
Analysis of Thermax's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Jun 30, 2025
| Description | Share | Value |
|---|---|---|
| a. Industrial Products | 43.6% | 954.4 Cr |
| b. Industrial Infra | 40.6% | 890.4 Cr |
| c. Green Solutions | 7.9% | 173.2 Cr |
| d. Chemical | 7.9% | 173.2 Cr |
| Total | 2.2 kCr |
Share Holdings
Understand Thermax ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Holding Pattern
Share Holding Details
| Shareholder Name | Holding % |
|---|---|
| RDA HOLDINGS PRIVATE LTD | 53.99% |
| ARA TRUSTEESHIP COMPANY PRIVATE LIMITED | 7.99% |
| SBI ESG EXCLUSIONARY STRATEGY FUN | 6.62% |
| NALANDA INDIA EQUITY FUND LIMITED | 5.13% |
| KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK MANUFACTUR | 2.67% |
| JASMEET BHATIA | 2.41% |
| KOTAK FUNDS - INDIA MIDCAP FUND | 1.35% |
| PHEROZ N PUDUMJEE | 0.01% |
| MEHER PUDUMJEE | 0% |
| ARNAVAZ ROHINTON AGA | 0% |
| ZAHAAN PHEROZ PUDUMJEE | 0% |
| LEA PUDUMJEE | 0% |
| MEHER P. SETHNA | 0% |
| JAMSDHED A. BHATENA | 0% |
| DARAYUS A. BHATENA | 0% |
| RDA INVESTMENTS SINGAPORE PTE. LTD. | 0% |
| SHAKTI SUSTAINABLE ENERGY FOUNDATION | 0% |
| SOCOMP SOLUTIONS PRIVATE LIMITED | 0% |
| LAZARA CAPITAL ADVISORS PRIVATE LIMITED | 0% |
| MEPHEZALEA ASSET SERVICES LLP | 0% |
Overall Distribution
Distribution across major stakeholders
Ownership Distribution
Distribution across major institutional holders
Is Thermax Better than it's peers?
Detailed comparison of Thermax against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| LT | Larsen & Toubro | 4.99 LCr | 2.69 LCr | +1.40% | +1.50% | 31.46 | 1.86 | - | - |
| ABB | ABB India | 1.14 LCr | 12.63 kCr | -12.80% | -31.70% | 63.6 | 8.79 | - | - |
| SIEMENS | Siemens | 1.1 LCr | 20.27 kCr | -5.90% | -53.20% | 42.14 | 5.42 | - | - |
| BHEL | Bharat Heavy Electricals | 83.22 kCr | 28.8 kCr | -6.80% | -16.90% | 156.21 | 2.89 | - | - |
| KEC | KEC International | 22.04 kCr | 22.39 kCr | -6.80% | -0.20% | 36.07 | 0.98 | - | - |
Sector Comparison: THERMAX vs Electrical Equipment
Comprehensive comparison against sector averages
Comparative Metrics
THERMAX metrics compared to Electrical
| Category | THERMAX | Electrical |
|---|---|---|
| PE | 57.95 | 67.28 |
| PS | 3.89 | 6.15 |
| Growth | 7.6 % | 12.2 % |
Performance Comparison
THERMAX vs Electrical (2021 - 2025)
- 1. THERMAX is among the Top 10 Heavy Electrical Equipment companies but not in Top 5.
- 2. The company holds a market share of 8.5% in Heavy Electrical Equipment.
- 3. In last one year, the company has had a below average growth that other Heavy Electrical Equipment companies.
Income Statement for Thermax
Balance Sheet for Thermax
Cash Flow for Thermax
What does Thermax Ltd. do?
Thermax is a prominent Heavy Electrical Equipment company with the stock ticker THERMAX. With a market capitalization of Rs. 40,640.5 Crores, it specializes in providing energy, environment, and chemical solutions both in India and internationally.
The company operates through several segments, including Industrial Products, Industrial Infra, Green Solutions, and Chemical, offering a wide array of products such as:
- Vapour absorption and hybrid chillers
- Heat pumps, chillers, and transformers
- Industrial refrigeration and renewable energy solutions
- Various types of boilers and heaters
- Air pollution control and water/waste solutions
- Specialty chemicals for diverse applications
Thermax also engages in cogeneration and waste heat recovery power, and operates captive and independent power plants, alongside offering operation and maintenance services.
Thermax serves a vast range of industries, including automobiles, cement, chemicals and fertilizers, pharmaceuticals, food, textiles, and more. Established in 1966 and headquartered in Pune, India, it is a subsidiary of RDA Holdings Private Limited.
In terms of financial performance, Thermax has a trailing 12 months revenue of Rs. 10,298.1 Crores and has reported a substantial revenue growth of 76.4% over the past three years. The company provides dividends to its investors, boasting a dividend yield of 0.54% per year, with a return of Rs. 22 dividend per share in the last year.