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Thermax Ltd logo

Thermax Ltd

NSE: THERMAX BSE: 500411

₹3227.40

(-0.31%)

Mon, 23 Mar 2026, 11:16 pm

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Thermax Share Price Live Chart

1 Day

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Summary

  • Market Cap

    38439.23

  • Net Profit

    626.70

  • P/B

    8.34

  • Sector P/E

    43.03

  • P/E

    64.88

  • EV/EBITDA

    35.98

  • Debt/Equity (Industry)

    0.37

  • Interest Cover (Industry)

    7.07

  • ROCE (Industry)

    15.14

  • RONW (Industry)

    13.48

  • ROE

    13.37

  • ROCE

    15.66

  • Debt/Equity

    0.32

  • EPS (TTM)

    53.76

  • Dividend Yield

    0.43

  • Book Value

    424.12

  • Interest Cover

    8.57

Analysis

all

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Pros

  • Dividends per share have increased over the past 10 years.
  • Dividends paid are well covered by earnings (3.8x coverage).
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
  • Dividends per share have been stable in the past 10 years.
  • Thermax's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.76%).
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Cons

  • Thermax's dividend is below the markets top 25% of dividend payers in India (3.08%).
  • Thermax's earnings are expected to grow by 17.7% yearly, however this is not considered high growth (20% yearly).
  • Thermax's earnings growth is positive but not above the India market average.
  • Thermax's earnings are expected to increase but not above the low risk growth rate next year.
  • Thermax's net income is expected to increase but not above the 50% threshold in 2 years time.

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Financials

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Ratios

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Shareholding

ShareholdersDEC 2025SEPT 2025JUN 2025MAR 2025DEC 2024
Promoters61.9861.9861.9861.9861.98
FII12.3613.4416.0215.8615.49
DII14.8413.9511.7512.2512.66
Public10.8210.6210.259.919.87
Government00000

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Technical Analysis

RSI

48.03

MACD

52.03

50 DMA

3025.66

200 DMA

3203.19

Support and Resistance

TypeR3R2R1PPS1S2S3
Classic4031.673534.873326.333038.072829.532541.272044.47
Fibonacci3534.873345.093227.843038.072848.292731.042541.27
Camarilla3254.423208.883163.343038.073072.263026.722981.18

Pivots Level: Classic

R3

+993.60

4031.67

R2

+496.80

3534.87

R1

+288.27

3326.33

3038.07
3038.07
Pivot Point
LTP: 3101.10

S1

-208.53

2829.53

S2

-496.80

2541.27

S3

-993.60

2044.47

Moving Average

SMAEMA

Period

Value

  • 10-EMA

    3188.92

  • 20-EMA

    3152.50

  • 30-EMA

    3118.25

  • 50-EMA

    3078.29

  • 100-EMA

    3079.75

  • 200-EMA

    3208.79

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Corporate Actions

Announcement DatePurposeActionEx Date
02 Feb 2026board-meetingsQuarterly Results
11 Nov 2025board-meetingsQuarterly Results, Half Yearly Results
05 Jul 2025agm
04 Jun 2025dividendFinal Dividend - Rs. - 1404 Jul 2025
09 May 2025dividend₹14.00 Dividend /Share04 Jul 2025
08 Jul 2024agm
05 Jun 2024dividendDividend - Rs. - 1205 Jul 2024
10 May 2024dividend₹12.00 Dividend /Share05 Jul 2024
05 Jul 2023agm
21 Jun 2023dividendDividend - Rs. - 1021 Jul 2023

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Peer Comparison

Thermax Ltd logo

Thermax Ltd

CG Power & Industrial Solutions Ltd logo

CG Power & Industrial Solutions Ltd

Waaree Energies Ltd logo

Waaree Energies Ltd

Bharat Heavy Electricals Ltd logo

Bharat Heavy Electricals Ltd

ABB India Ltd logo

ABB India Ltd

Siemens Ltd logo

Siemens Ltd

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Thermax Ltd About

Thermax an Indian engineering company that provides solutions in energy, environment, and chemicals.

Industry

Electric Equipment

Founded

1980

Headquarters

CEO

Meher P Pudumjee

Employees

Contact

Website icon

Website

http://www.thermaxindia.com

Email icon

Email

igkcpl@karvy.com

Phone icon

Phone

91-20-66122100/66155000

Location icon

Location

D-13 MIDC Industrial Area, R D Aga Road Chinchwad, Pune, Maharashtra, 411019

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Thermax Ltd Company History

YearHistory
2020
  • Won major order for captive Combined Heat and Power plant.
  • Launched compact sewage recycle system 'atoM'.
2021
  • Signed agreement with Power Roll to develop solar film market in India.
  • Bagged Rs. 830 crore order for three FGD systems.
2022
  • Bagged Rs. 545.6 crore order for two FGD systems.
  • Won Rs. 522 crore order for refinery and petrochemical complex.
  • Bagged Rs. 1,176 crore order for Sulphur Recovery Block.
2023
  • Entered green hydrogen market in partnership with Fortescue Future Industries.
  • Won Rs. 271.50 crore order from India's biggest refinery for mechanical balance of plant.
  • Won Rs. 251.7 crore order to renovate and modernise ESPs for public sector power company.
2024
  • Completed acquisition of Buildtech Products India Private Limited.
  • Won repeat order worth Rs. 516 crore for 600 MW greenfield energy project in Botswana.
  • Partnered with Ceres for green hydrogen production with SOEC manufacturing in India.

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Deals

Client NameOrder SideQTYAvg PriceDate
NALANDA INDIA EQUITY FUND LIMITEDSell15000005100.2607 Jun 2024
SBI MUTUAL FUNDBuy1374359510007 Jun 2024
INTEGRATED CORE STRATEGIES (ASIA) PTE. LTD.Sell10344265403.7631 May 2024
NALANDA INDIA EQUITY FUND LIMITEDBuy943506687.9920 Mar 2020
NALANDA INDIA FUND LIMITEDBuy1128611689.8420 Mar 2020
IMPAX ENVIRONMENTAL MARKETS PLCSell604436940.0208 Mar 2019
RELIANCE MUTUAL FUNDBuy100000094008 Mar 2019
AMANSA HOLDINGS PRIVATE LIMITEDSell126077781025 Jan 2017

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Thermax Ltd News

Thermax Unit FE8PL Signs Share Deal with India Cements

FE8PL, a Thermax subsidiary, enters share subscription agreement with India Cements for acquisition of 13.3 million shares representing 14.63% ownership stake in the company.

16 Mar 2026

companies

Thermax Block Trade Worth Rs. 15.43 Crores on NSE

Thermax Ltd. witnessed a significant block trade on NSE involving approximately 46,880 shares valued at Rs. 15.43 crores, executed at Rs. 3292.00 per share.

16 Mar 2026

equity-markets

Thermax Acquires 35.83% Stake in Exactspace Technologies

Thermax Limited signed definitive agreements to acquire 35.83% stake in AI-IoT solutions provider Exactspace Technologies for ₹30.48 crores, increasing total shareholding to 51%.

27 Feb 2026

co actions results

Thermax Board Approves Wind Energy Subsidiaries Merger

Thermax Limited announces board approval for amalgamation scheme between step-down subsidiaries Jalansar Wind Energy and Kanakal Wind Energy, both engaged in renewable energy business.

04 Feb 2026

co actions results

Thermax Q3 Profit Surges 76% to ₹2.04 Billion

Thermax reported strong Q3 performance with consolidated net profit jumping 76% YoY to ₹2.04 billion, while revenue grew 4.2% to ₹26.35 billion, demonstrating robust operational execution.

02 Feb 2026

co actions results

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