Thermax Ltd
₹2785.90
as on
🔔 Brokerage Upgrade Alert
JPMorgan upgrades Thermax to Overweight citing margin recovery and strong order backlog despite earnings miss; Kotak and UBS maintain Buy with lowered targets.
What are INDmoney investors doing with Thermax shares?
Based on platform-user behaviour - not analyst opinion or company fundamentals.
Search interest on INDmoney
+14%
Searches for Thermax on INDmoney have increased by 14% over the last 30 days.
Investment activity on INDmoney
+146.96%
Investment activity in Thermax among INDmoney users has increased by 146.96% over the last 30 days.
Among the most traded stocks
245th
Thermax was the 245th most traded stock on INDmoney over the last 7 days.
Average holding period of indmoney investors
25 days
INDmoney investors hold Thermax shares for an average of 25 days.
Key Events for Thermax
Thermax Stock Performance
as on November 9, 2026 at 9:31 pm IST
Day's Low
Day's High
₹2,723.20₹2,842.00
2.25%
Downside
2.01%
Upside
52 Week's Low
52 Week's High
₹2,666.60₹5,277.804.28%
Downside
89.45%
Upside
Thermax share price movements today
- Previous Close
- ₹2,839.80
- Open
- ₹2,839.80
- Volume
- 4.00L
- Upper Circuit
- ₹3,407.70
- Lower Circuit
- ₹2,271.90
- Day's Low - High
- ₹2,723.20 - ₹2,842.00
- 52 Week Low - High
- ₹2,666.60 - ₹5,277.80
Thermax Historical Returns
- 1 Month Return
- -12.79 %
- 3 Month Return
- -29.92 %
- 1 Year Return
- -9.52 %
- 3 Year Return
- -2.5 %
- 5 Year Return
- + 112.28 %
Thermax Fundamentals
as on November 9, 2026 at 4:01 pm IST
Market Cap
₹33,838.01 Cr
Return on Equity (ROE)
12.63
PE Ratio (TTM)
54.39
Return on capital employed (ROCE)
15.45
Industry PE ratio
54.45
Beta (LTM)
0.37
P/B Ratio
8.85
Dividend Yield
0.06
PEG Ratio
-108.78
Quarterly Earnings Growth YOY
-5.27
EPS (TTM)
63.94
Book Value
492.67
Thermax Stock Valuation
as on November 9, 2026 at 4:01 pm IST
Thermax in the last 5 years
Lowest (25.41x)
March 23, 2020
Today (54.39x)
November 8, 2026
Industry (54.45x)
November 8, 2026
Highest (116.86x)
March 10, 2021
Today’s Price to Earnings Ratio: 54.39x
Thermax Technical Analysis
Track how Thermax technical analysis has moved over time to understand its trends.
Technicals Summary
Bearish
Neutral
Bullish
Moving Averages
Bearish
Neutral
Bullish
Oscillators
Bearish
Neutral
Bullish
Overall
Oscillators
Name | Value | Action |
|---|---|---|
MACD level (12,26) | -2.08 | |
CCI (20) | -89.16 | Neutral |
RSI (14) | 37.45 | Neutral |
Momentum (10) | -5.4 | Bullish |
ADI (14) | 38.86 | |
Ultimate Oscillator (7,14,28) | 48.86 | Neutral |
Moving Averages
Name | Value | Action |
|---|---|---|
SMA (20) | 2786.06 | |
EMA (20) | 2784.79 | |
VWMA (20) | 2784.12 | |
SMA (50) | 2788.14 | |
EMA (50) | 2787.35 | |
SMA (200) | 2795.57 | |
EMA (200) | 2793.27 | |
KAMA (200) | 2791.38 | |
DEMA (200) | 2789.19 |
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 CAGR | Debt to Asset Ratio | Net Profit(in ₹ Cr) | Yearly Revenue(in ₹ Cr) |
|---|---|---|---|---|---|---|
| HOLD | 33,838.01 | 22.46% | 0.66 | 720 | 10,774 | |
| BUY | 29,758.93 | 13.46% | 0.50 | 1,268 | 4,421 | |
| BUY | 1,14,067.80 | 69.27% | 0.52 | 2,361 | 12,143 | |
| HOLD | 1,45,271.68 | 95.73% | 0.75 | 1,600 | 33,782 | |
| HOLD | 1,45,358.55 | 42.79% | 0.51 | 1,668 | 13,202 |
Market expectation of Thermax Stock
Common consensus of the market based on various publicly available news, publications,brokerage expectation and market data
36.84%
Buy
36.84%
Hold
26.32%
Sell
Thermax Ltd Quarterly Profit & Loss
Figures in Rupees Crores
Thermax Ltd Annual Profit & Loss
Figures in Rupees Crores
Thermax Ltd Cash Flow
Figures in Rupees Crores
Mutual Funds Buying / Exiting Thermax
Holdings as of 15 Oct 2026 · based on the latest SEBI-mandated portfolio disclosures
Mutual Funds Buying Thermax
Sorted by largest increase in holding, month-over-month.
Fund Name | Value of Holding | Increase (MoM) | Holding % |
|---|---|---|---|
 Sundaram Mid Cap - Direct Plan - Growth Option | ₹250.73 Cr | ₹158.78 Cr (+172.67%) | 2.2% |
Mutual Funds Exiting Thermax
Sorted by largest decrease in holding, month-over-month.
Fund Name | Value of Holding | Decrease (MoM) | Holding % |
|---|---|---|---|
 SBI Focused Fund Direct Plan Growth | ₹556.08 Cr | ₹118.59 Cr (-17.58%) | 1.35% |
Thermax Corporate Actions
View detailed summary of the earnings and dividend history of Thermax.
Thermax Ltd Earnings Results
Thermax Ltd’s net profit fell -4.28% since last year same period to ₹114.54Cr in the Q2 2026-2027. On a quarterly growth basis, Thermax Ltd has generated 353.8% jump in its net profits since last 3-months.
Read MoreThermax Ltd Dividends May,2026
In the quarter ending March 2026, Thermax Ltd has declared dividend of ₹14.00 per share on 07 May 2026 - translating a dividend yield of 0.70%.
Read More about Dividends
Indices Featuring Thermax Stock
Check stock indices that include Thermax.
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.
POSITIVE IMPACTRetail Holding Up
Retail Investor have increased holdings from 5.88% to 6.32% in Sep 2026 quarter
- POSITIVE IMPACT
Profit Spike
Netprofit is up for the last 2 quarters, 25.24 Cr → 114.54 Cr (in ₹), with an average increase of 78.0% per quarter
- POSITIVE IMPACT
Revenue Rich
Revenue is up for the last 2 quarters, 2.37K Cr → 2.83K Cr (in ₹), with an average increase of 16.5% per quarter
NO EFFECTAgainst Peers
In the last 1 year, Craftsman Automation Ltd has given 55.8% return, outperforming this stock by 65.3%
- NO EFFECT
Against Peers
In the last 3 years, Craftsman Automation Ltd has given 115.4% return, outperforming this stock by 117.9%
- NO EFFECT
Promoter Holding Unchanged
Promoters holdings remained unchanged at 61.98% of holdings in Sep 2026 quarter
NEGATIVE IMPACTFII Holding Down
Foreign Institutions have decreased holdings from 11.46% to 11.31% in Sep 2026 quarter
- NEGATIVE IMPACT
MF Holding Down
Mutual Funds have decreased holdings from 12.86% to 12.33% in Sep 2026 quarter
- NEGATIVE IMPACT
Price Dip
In the last 7 days, THERMAX stock has moved down by -9.4%
About Thermax Ltd
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: ₹2,755.87Cr as on September 2026 (Q2 FY27)
Net Profit: ₹113.11Cr as on September 2026 (Q2 FY27)
Listing date: 14 Jun, 1995
Chairperson Name: Meher P Pudumjee
| Organisation | Thermax Ltd |
| Headquarters | Pune |
| Industry | Capital Goods - Electrical Equipment |
| CEO | Meher P Pudumjee |
| E-voting on shares | Click here to vote |
FAQs
What is Thermax share price today?
Thermax share price today stands at ₹2785.9 as on at the close of the market. Thermax share today touched a day high of ₹2842 and a low of ₹2723.2.
What is the 52 week high and 52 week low range for Thermax share?
Thermax touched a 52 week high of ₹5277.8 and a 52 week low of ₹2666.6. Thermax share price today i.e. is closed at ₹2785.9, which is -47.21% down from its 52 week high and 4.47% up from its 52 week low.
What is Thermax's market capitalisation today?
Thermax market capitalisation is ₹33,838.01 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 4.00L as on . This means that 4.00L shares of Thermax were bought and sold on the stock market during today's trading session.
What are INDmoney investors doing with Thermax shares right now?
Based on aggregated, anonymised INDmoney platform data, search interest and investment activity in Thermax have both increased over the past 30 days, and the average INDmoney investor holds the stock for 25 days. This reflects platform activity only and is not investment advice.