Thermax Ltd
NSE: THERMAX BSE: 500411
₹2950
(4.25)%
Tue, 03 Feb 2026, 03:38 pm
Market Cap337.2B
PE Ratio55.99
Dividend0.49
Producer Manufacturing
Industrial Machinery
24.5KFinancials
| Particulars | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 15.95B | 22.89B | 34.30B | 34.02B | 32.73B | 52.45B | 60.87B | 54.31B | 50.09B | 53.28B | 50.86B | 44.06B | 43.94B | 59.06B | 56.76B | 47.37B | 60.96B | 80.71B | 92.70B | 102.83B |
| Gross profit | 1.54B | 2.68B | 8.92B | 7.39B | 5.78B | 7.92B | 10.09B | 8.05B | 7.56B | 7.76B | 8.35B | 7.46B | 7.09B | 8.67B | 8.56B | 6.37B | 8.24B | 11.82B | 14.10B | 15.66B |
| Operating expenses (excl. COGS) | -158.80M | -188.00M | -5.39B | -3.18B | -3.11B | -3.32B | -4.30B | -4.21B | -4.21B | -4.74B | -4.80B | -4.14B | -4.58B | -5.21B | -6.22B | -4.31B | -5.58B | -6.72B | -7.34B | -8.28B |
| Selling/general/admin expenses, total | — | — | -5.32B | -3.11B | -2.87B | -3.28B | -4.25B | -4.17B | -4.15B | -4.67B | -4.91B | -3.50B | -4.10B | -5.05B | -5.08B | -3.76B | -5.33B | -6.49B | -6.68B | -7.59B |
| Research & development | — | -55.30M | -55.50M | -89.60M | — | — | — | — | — | — | -200.00M | -195.60M | -226.10M | -314.30M | -282.50M | -265.60M | -312.50M | -322.10M | -350.20M | -374.00M |
| Selling/general/admin expenses, other | — | — | -5.26B | -3.02B | -2.87B | -3.28B | -4.25B | -4.17B | -4.15B | -4.67B | -4.71B | -3.31B | -3.87B | -4.73B | -4.80B | -3.50B | -5.01B | -6.17B | -6.33B | -7.22B |
| Other operating expenses, total | -158.80M | -188.00M | -73.90M | -72.10M | -243.60M | -39.70M | -53.30M | -44.60M | -61.20M | -74.00M | 110.70M | -639.40M | -479.00M | -159.80M | -1.14B | -545.10M | -251.00M | -228.00M | -655.80M | -685.30M |
| Operating income | 1.39B | 2.43B | 3.53B | 4.21B | 2.60B | 4.60B | 5.79B | 3.84B | 3.35B | 3.02B | 3.55B | 3.32B | 2.51B | 3.46B | 2.34B | 2.06B | 2.66B | 5.10B | 6.77B | 7.38B |
| Non-operating income, total | 301.30M | 527.40M | 919.10M | 3.10M | 255.20M | 1.14B | 174.10M | 976.30M | 545.20M | 166.60M | 1.12B | 1.06B | 1.71B | 642.10M | 1.41B | 694.70M | 1.44B | 930.20M | 1.93B | 1.47B |
| Interest expense, net of interest capitalized | -16.10M | -15.40M | -16.50M | -38.10M | -20.30M | -41.00M | -89.20M | -94.00M | -273.60M | -931.90M | -121.90M | -70.40M | -71.90M | -97.00M | -86.10M | -117.50M | -134.70M | -256.40M | -753.30M | -1.04B |
| Interest capitalized | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | — | 0 | 0 | 0 | 0 | 0 | 83.20M | 372.30M |
| Non-operating income, excl. interest expenses | 320.70M | 722.00M | 925.80M | 41.60M | 1.44B | 1.38B | 522.20M | 1.25B | 930.80M | 1.74B | 826.40M | 1.07B | 899.50M | 902.40M | 805.90M | 1.26B | 887.20M | 931.10M | 2.91B | 1.96B |
| Non-operating interest income | 5.20M | 34.10M | 36.00M | 112.50M | 413.90M | 446.20M | 602.40M | 474.60M | 300.90M | 333.30M | 349.30M | 205.50M | 143.00M | 237.50M | 286.70M | 847.30M | 689.00M | 894.30M | 1.12B | 1.23B |
| Miscellaneous non-operating expense | 315.50M | 687.90M | 889.80M | -70.90M | 1.02B | 935.80M | -80.20M | 771.00M | 629.90M | 1.41B | 433.10M | 860.40M | 756.40M | 675.60M | 519.20M | 414.00M | 198.20M | 36.80M | 1.79B | 709.40M |
| Unusual income/expense | -3.30M | -179.20M | 9.80M | -400.00K | -1.16B | -204.40M | -258.90M | -175.30M | -112.00M | -641.70M | 415.00M | 62.10M | 887.10M | -163.30M | 685.40M | -449.10M | 686.40M | 255.50M | -230.40M | 541.50M |
| Pretax income | 1.69B | 2.96B | 4.44B | 4.21B | 2.86B | 5.74B | 5.96B | 4.81B | 3.89B | 3.19B | 4.67B | 4.38B | 4.22B | 4.10B | 3.75B | 2.75B | 4.10B | 6.03B | 8.70B | 8.85B |
| Taxes | -662.20M | -1.02B | -1.54B | -1.32B | -1.42B | -1.97B | -2.04B | -1.77B | -1.70B | -1.71B | -1.44B | -1.56B | -1.66B | -849.40M | -1.62B | -686.10M | -977.90M | -1.52B | -2.26B | -2.58B |
| Non-controlling/minority interest | 0 | 0 | 0 | 0 | 4.10M | 46.90M | 113.80M | 160.70M | 262.40M | 616.50M | 0 | 68.70M | 10.10M | 0 | 0 | 0 | 0 | -4.10M | 20.90M | 77.70M |
| After tax other income/expense | 0 | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income before discontinued operations | 1.03B | 1.94B | 2.91B | 2.89B | 1.44B | 3.82B | 4.04B | 3.20B | 2.46B | 2.10B | 2.82B | 2.23B | 2.32B | 3.25B | 2.12B | 2.07B | 3.12B | 4.50B | 6.45B | 6.34B |
| Net income | 1.03B | 1.94B | 2.91B | 2.89B | 1.44B | 3.82B | 4.04B | 3.20B | 2.46B | 2.10B | 2.82B | 2.23B | 2.32B | 3.25B | 2.12B | 2.07B | 3.12B | 4.50B | 6.45B | 6.34B |
| Dilution adjustment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred dividends | 77.30M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Diluted net income available to common stockholders | 948.00M | 1.94B | 2.91B | 2.89B | 1.44B | 3.82B | 4.04B | 3.20B | 2.46B | 2.10B | 2.82B | 2.23B | 2.32B | 3.25B | 2.12B | 2.07B | 3.12B | 4.50B | 6.45B | 6.34B |
| Basic earnings per share (Basic EPS) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Diluted earnings per share (Diluted EPS) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA | 1.55B | 2.63B | 3.76B | 4.56B | 3.11B | 5.14B | 6.45B | 4.61B | 4.27B | 4.36B | 4.27B | 4.14B | 3.32B | 4.39B | 3.52B | 3.21B | 3.79B | 6.27B | 8.12B | 8.97B |
| EBIT | 1.39B | 2.43B | 3.53B | 4.21B | 2.67B | 4.60B | 5.79B | 3.84B | 3.35B | 3.02B | 3.55B | 3.32B | 2.51B | 3.46B | 2.34B | 2.06B | 2.66B | 5.10B | 6.77B | 7.38B |
| Total operating expenses | -14.57B | -20.45B | -30.78B | -29.81B | -30.13B | -47.85B | -55.08B | -50.47B | -46.75B | -50.26B | -47.30B | -40.74B | -41.43B | -55.60B | -54.42B | -45.32B | -58.30B | -75.61B | -85.93B | -95.45B |
| Prepaid expenses | 221.80M | 419.40M | 430.80M | 597.10M | 1.20B | 1.09B | 422.40M | 445.70M | 143.90M | 94.40M | 106.10M | 123.70M | 192.20M | 209.10M | 226.90M | 285.40M | 435.20M | 340.40M | 335.60M | 349.90M |
| Deferred income, current | — | — | — | — | — | — | — | — | 13.68B | 14.79B | 11.09B | 9.54B | 14.94B | 17.62B | 12.78B | 12.69B | 16.13B | 20.51B | 21.04B | 26.16B |
| Capital and operating lease obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.50M | 14.10M | 14.10M | 0 | 96.80M | 66.10M | 81.30M | 147.40M | 164.10M | 188.30M |
| Operating lease liabilities | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Deferred tax liabilities | 196.20M | 201.20M | 312.90M | 366.60M | 440.50M | 587.70M | 732.70M | 772.20M | 860.60M | 785.90M | 155.00M | 160.10M | 164.70M | 99.00M | 44.10M | 70.10M | 30.90M | 29.10M | 122.80M | 300.40M |
| Deferred income, non-current | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 377.60M | 318.10M | 454.20M | 359.50M | 247.90M | 721.80M | 405.80M | 216.40M | 280.70M | 365.00M |
| Minority interest | 0 | 0 | 0 | 0 | 93.80M | 519.70M | 1.12B | 1.10B | 1.40B | 780.10M | 0 | 13.90M | 0 | 0 | 0 | 0 | 0 | 21.50M | 0 | 56.90M |
| Change in accrued expenses | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Common dividends paid | -362.40M | -924.20M | -362.20M | -1.11B | -696.50M | -694.60M | -1.25B | -969.40M | -974.00M | -839.90M | -958.40M | -823.40M | -823.90M | -812.90M | -1.90B | 0 | -788.30M | -1.02B | -1.13B | -1.35B |
| Preferred dividends paid | -362.40M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
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Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800