Thermax Ltd share price logo

Thermax Ltd

NSE: THERMAX

BSE: 500411

Mid Cap

Electric Sector

₹4141.40

+15.00

(+0.36%)

as on

bell
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Tech Chart

Thermax Stock Performance

as on April 17, 2026 at 9:31 pm IST

  • Day's Low

    Day's High

    ₹4,058.00
    ₹4,170.00
    downward going graph

    2.01%

    Downside

    0.69%

    Upside

    downward going graph

  • 52 Week's Low

    52 Week's High

    ₹2,742.70
    ₹4,170.00
    downward going graph

    33.77%

    Downside

    0.69%

    Upside

    downward going graph

Thermax share price movements today

Previous Close
₹4,126.40
Open
₹4,112.00
Volume
2.17L
Upper Circuit
₹4,951.60
Lower Circuit
₹3,301.20
Day's Low - High
₹4,058.00 - ₹4,170.00
52 Week Low - High
₹2,742.70 - ₹4,170.00

Thermax Historical Returns

1 Month Return
+ 27.42 %
3 Month Return
+ 40.46 %
1 Year Return
+ 21.56 %
3 Year Return
+ 81.85 %
5 Year Return
+ 211.37 %

Thermax Fundamentals

as on April 17, 2026 at 4:01 pm IST

Market Cap

₹49,168.66 Cr

Return on Equity (ROE)

13.43

PE Ratio (TTM)

68.16

Return on capital employed (ROCE)

16.22

Industry PE ratio

74.41

Beta (LTM)

0.45

P/B Ratio

10.97

Dividend Yield

0.38

PEG Ratio

12.22

Quarterly Earnings Growth YOY

80.26

EPS (TTM)

55.63

Sector

Capital Goods - Electrical Equipment

Book Value

438.25

Technical Analysis

Bullish

View Technical Analysis

Thermax Stock Valuation

as on April 17, 2026 at 4:01 pm IST

Thermax in the last 5 years

  • Overview

  • Trends

Lowest (25.41x)

March 23, 2020

Today (68.16x)

April 16, 2026

Industry (74.41x)

April 16, 2026

Highest (116.86x)

March 10, 2021

LowHigh

Today’s Price to Earnings Ratio: 68.16x

Thermax Ltd vs Peer Comparison

Compare market cap, revenue, PE, and other key metrics of Thermax with its industry peers.

Company
Analyst View
Market Cap(in ₹ Cr)
5 Year CAGRDebt to Asset Ratio
Net Profit(in ₹ Cr)
Yearly Revenue(in ₹ Cr)
Thermax Ltd image
Thermax Ltd
HOLD49,168.6642.27%0.6462610,388
AIA Engineering Ltd image
AIA Engineering Ltd
HOLD36,631.0422.18%0.531,0604,290
Cummins India Ltd image
Cummins India Ltd
BUY1,39,658.9099.96%0.521,99910,390
Bharat Heavy Electricals Ltd image
Bharat Heavy Electricals Ltd
HOLD1,07,686.29120.41%0.7553328,339
ABB India Ltd image
ABB India Ltd
HOLD1,45,867.1378.68%0.001,66813,202
See all

Market expectation of Thermax Stock

Common consensus of the market based on various publicly available news, publications,brokerage expectation and market data

HOLD

42.86%

Buy

38.10%

Hold

19.05%

Sell

Thermax Stock’s Investor Sentiment and Interest

Investment in Thermax Ltd Shares on INDmoney has grown by 66.27% over the past 30 days, indicating increased transactional activity.

Time period: to

Change:66.27% versus previous 30 day period

Search interest for Thermax Ltd Stock has increased by 27% in the last 30 days, reflecting an upward trend in search activity.

Time period: to

Change:27% versus previous 30 day period

Thermax Ltd Quarterly Profit & Loss

Figures in Rupees Crores

Jun 2023
Sep 2023
Dec 2023
Mar 2024
Jun 2024
Sep 2024
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Sales
1,932.96
2,302.46
2,324.36
2,763.68
2,184.41
2,615.69
2,528.72
3,084.93
2,157.53
2,473.9
2,634.68
Other Income
53.06
65.86
184.52
55.4
84.09
59.77
31.51
77.56
65.63
85.41
121.48
Total Income
1,986.02
2,368.32
2,508.88
2,819.08
2,268.5
2,675.46
2,560.23
3,162.49
2,223.16
2,559.31
2,756.16
Expenses
1,851.78
2,098.09
2,137.27
2,490.53
2,043.68
2,337.75
2,340.23
2,785.26
1,932.61
2,302
2,379.97
Operating Profit
81.18
204.37
187.09
273.15
140.73
277.94
188.49
299.67
224.92
171.9
254.71
Operating Profit Margin %
4.2%
8.88%
8.05%
9.88%
6.44%
10.63%
7.45%
9.71%
10.42%
6.95%
9.67%
Profit Before Interest, Tax and Depreciation
134.24
270.23
371.61
328.55
224.82
337.71
220
377.23
290.55
257.31
376.19
Interest
13.37
19.8
26.61
27.81
27.48
29.39
28.66
31.25
30.2
32.17
34.24
Depreciation
29.4
32.96
35.84
49.88
36.03
42.07
35.07
45.34
48.88
51.47
53.28
Profit Before Tax
91.47
217.47
309.16
250.86
161.31
266.25
156.27
300.64
211.47
173.67
288.67
Tax Paid
31.52
58.87
72.1
63.28
51.89
68.25
42.54
95.09
60.02
54.27
83.66
Profit After Tax
59.95
158.6
237.06
187.58
109.42
198
113.73
205.55
151.45
119.4
205.01
Total Net profit including share of profit / Loss from associate company
59.95
158.6
237.06
187.58
109.42
198
113.73
205.55
151.45
119.4
205.01
EPS
5.23
14
21.17
16.9
10.28
17.49
10.29
18.27
13.53
10.62
18.12
Actual EPS
5.23
14
21.17
16.9
10.28
17.49
10.29
18.27
13.53
10.62
18.12
Adjusted EPS
5.23
14
21.17
16.9
10.28
17.49
10.29
18.27
13.53
10.62
18.12
Diluted EPS
5.23
14
21.17
16.88
10.28
17.49
10.29
18.26
13.52
10.62
18.12

Thermax Ltd Annual Profit & Loss

Figures in Rupees Crores

Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Mar 2025
Sales
4,464.88
5,973.17
5,731.31
4,791.25
6,128.33
8,089.81
9,323.46
10,369.26
Other Income
116.39
149.88
100
107.74
127.14
160.18
308.06
252.22
Total Income
4,581.27
6,123.05
5,831.31
4,898.99
6,255.47
8,249.99
9,631.52
10,621.48
Expenses
4,089.13
5,606.34
5,325.13
4,488.59
5,706.96
7,492.48
8,526.89
9,461.72
Operating Profit
375.75
366.83
406.18
302.66
421.37
597.33
796.57
907.54
Operating Profit Margin %
8.42%
6.14%
7.09%
6.32%
6.88%
7.38%
8.54%
8.75%
Profit Before Interest, Tax and Depreciation
492.14
516.71
506.18
410.4
548.51
757.51
1,104.63
1,159.76
Interest
12.85
14.32
15.02
20.64
25.17
37.59
87.59
116.78
Depreciation
82.44
92.02
116.63
114.57
113.24
116.86
148.08
158.51
Profit Before Tax
396.85
410.37
374.53
275.19
410.1
603.06
868.96
884.47
Tax Paid
165.75
84.94
162.08
68.61
97.79
152.36
225.77
257.77
Profit After Tax
231.1
325.43
212.45
206.58
312.31
450.7
643.19
626.7
Total Net profit including share of profit / Loss from associate company
231.1
325.43
212.45
206.58
312.31
450.7
643.19
626.7
EPS
20.61
28.9
18.87
18.34
27.73
39.98
57.3
56.33
Actual EPS
20.61
28.9
18.87
18.34
27.73
39.98
57.3
56.33
Adjusted EPS
20.61
28.9
18.87
18.34
27.73
39.98
57.3
56.33
Diluted EPS
20.61
28.9
18.87
18.34
27.73
39.98
57.28
56.31

Thermax Ltd Cash Flow

Figures in Rupees Crores

Mar 2016
Mar 2017
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Mar 2025
Net Cash from Operating Activities
252.58
334.58
533.59
-115.42
325.58
769.48
324.71
459.56
247.3
1,042.79
Cash Flow from Investing Activities
-127.11
-99.33
-506.55
245.98
-163.85
-653.51
-508.03
-663.81
-513.68
-1,220.12
Cash Flow from Financing Activities
-112.25
-125.58
-20.32
-65.37
-232.45
77.24
-20.58
348.54
285.4
123.55
Net Cash Flow
13.22
109.67
6.72
85.19
-46.89
219.81
-115.37
144.29
19.02
-53.78

Mutual Funds that own Thermax Stock

Check out the Mutual Funds with significant holdings in Thermax.

Thermax Corporate Actions

View detailed summary of the earnings and dividend history of Thermax.

  • Thermax Ltd Earnings Results

    Thermax Ltd’s net profit jumped 76.17% since last year same period to ₹204.18Cr in the Q3 2025-2026. On a quarterly growth basis, Thermax Ltd has generated 70.63% jump in its net profits since last 3-months.

    Read More about Earnings Results

  • Thermax Ltd Dividends May,2025

    In the quarter ending March 2025, Thermax Ltd has declared dividend of ₹14.00 per share on 09 May 2025 - translating a dividend yield of 0.63%.

    Read More about Dividends

Indices Featuring Thermax Stock

Check stock indices that include Thermax.

Nifty Energy

₹38,881.75

1.83 (▲697.00%)

S&P BSE 400 MidSmallCap

₹11,923.12

1.35 (▲158.48%)

S&P BSE 150 MidCap

₹16,131.51

1.26 (▲201.12%)

S&P BSE POWER

₹7,780.28

1.95 (▲148.69%)

Nifty Midcap 150

₹22,045.20

1.22 (▲264.70%)

BSE 200

₹11,238.26

0.85 (▲95.23%)

Nifty MidSmallcap 400

₹19,974.35

1.30 (▲257.00%)

BSE 500

₹35,820.15

0.94 (▲334.24%)

S&P BSE Capital Goods

₹76,112.21

2.19 (▲1632.36%)

Nifty LargeMidcap 250

₹16,308.00

1.00 (▲161.95%)

S&P BSE 250 LargeMidCap

₹10,675.58

0.88 (▲93.14%)

S&P BSE Indus.

₹15,713.63

1.32 (▲205.16%)

Nifty 500

₹22,869.40

0.94 (▲213.10%)

Insights on Thermax Ltd

Insights help you understand the recent movement of the company's critical parameters, giving you an overall view of the company.

  • imgPOSITIVE IMPACT

    Profit Spike

    img

    Netprofit is up for the last 2 quarters, 119.66 Cr → 204.18 Cr (in ₹), with an average increase of 41.4% per quarter

  • imgPOSITIVE IMPACT

    Price Rise

    img

    In the last 7 days, THERMAX stock has moved up by 13.3%

  • imgPOSITIVE IMPACT

    MF Holding Up

    img

    Mutual Funds have increased holdings from 12.56% to 13.26% in Dec 2025 quarter

  • imgPOSITIVE IMPACT

    Retail Holding Up

    img

    Retail Investor have increased holdings from 5.16% to 5.36% in Dec 2025 quarter

  • imgPOSITIVE IMPACT

    Revenue Rich

    img

    Revenue is up for the last 3 quarters, 2.22K Cr → 2.75K Cr (in ₹), with an average increase of 10.1% per quarter

  • imgPOSITIVE IMPACT

    Best in 3 Years

    img

    In the last 3 years, THERMAX has outperformed top 5 stocks with highest market-cap in Industrial Machinery & Equipment

  • imgNO EFFECT

    Against Peers

    img

    In the last 1 year, Timken India Ltd has given 35.4% return, outperforming this stock by 13.8%

  • imgNO EFFECT

    Promoter Holding Unchanged

    img

    Promoters holdings remained unchanged at 61.98% of holdings in Dec 2025 quarter

  • imgNEGATIVE IMPACT

    FII Holding Down

    img

    Foreign Institutions have decreased holdings from 13.44% to 12.36% in Dec 2025 quarter

About Thermax Ltd

Thermax Ltd is an Indian engineering company, incorporated in 1980. The company is involved in providing engineering solutions in the energy and environment sectors. Thermax has operations in over 75 countries, with a presence in all major markets. Its lines of business include heating, cooling, water and waste management, energy management, and specialty chemicals.

Thermax's top products include boilers, chillers, water and waste management systems, air pollution control systems, and energy management systems. Its popular brands include Thermax, Thermion, and Thermofin. Thermax is also the leading supplier of energy efficient solutions in India, with its products helping customers reduce their energy consumption and carbon footprint.

Revenue: ₹2,634.68Cr as on December 2025 (Q3 FY26)
Net Profit: ₹205.01Cr as on December 2025 (Q3 FY26)
Listing date: 14 Jun, 1995
Chairperson Name: Meher P Pudumjee
OrganisationThermax Ltd
HeadquartersPune
IndustryCapital Goods - Electrical Equipment
CEOMeher P Pudumjee
E-voting on sharesClick here to vote

FAQs

What is Thermax share price today?

Thermax share price today stands at ₹4141.4 as on at the close of the market. Thermax share today touched a day high of ₹4170 and a low of ₹4058.

What is the 52 week high and 52 week low range for Thermax share?

Thermax touched a 52 week high of ₹4170 and a 52 week low of ₹2742.7. Thermax share price today i.e. is closed at ₹4141.4, which is -0.69% down from its 52 week high and 51.00% up from its 52 week low.

What is Thermax's market capitalisation today?

Thermax market capitalisation is ₹49,168.66 Cr as on .

How to buy Thermax shares?

To buy Thermax shares, you need to follow these steps:

  • Open a Demat account and Trading account on INDmoney
  • Fund your Trading account
  • Search for THERMAX or Thermax Ltd on the INDmoney app to check live prices of the stock
  • Click on Buy or SIP to place an order to invest in Thermax shares. You can invest by selecting the number of shares or set up a fixed SIP to invest every month or week.

What is Thermax trading volume today?

Thermax trading volume is 2.17L as on . This means that 2.17L shares of Thermax were bought and sold on the stock market during today's trading session.