Thermax Limited (BOM:500411)
India flag India · Delayed Price · Currency is INR
4,324.60
+73.90 (1.74%)
At close: Jul 31, 2026

Thermax Stock Forecast

Stock Price Forecast

According to 22 analysts polled by S&P Global, Thermax stock has a consensus rating of "Hold" and an average price target of ₹4,294. The average 1-year stock price forecast is 0.71% lower than the current stock price, while the lowest is ₹2,893 (-33.10%) and the highest is ₹5,335 (+23.36%).

Price Target: ₹4,294 (-0.71%)
Analyst Consensus: Hold

Price Target

Chart
TargetLowAverageMedianHigh
Price₹2,893₹4,294₹4,333₹5,335
Change-33.10%-0.71%+0.18%+23.36%

Analyst Ratings

The average analyst rating for Thermax stock is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Chart
RatingFeb '26Mar '26Apr '26May '26Jun '26Jul '26
Strong Buy888555
Buy222111
Hold666999
Sell222333
Strong Sell222444
Total202020222222

Financial Forecast

Revenue This Year
125.84B
from 106.94B
Increased by 17.67%
Revenue Next Year
148.34B
from 125.84B
Increased by 17.89%
EPS This Year
73.77
from 67.83
Increased by 8.75%
EPS Next Year
96.67
from 73.77
Increased by 31.04%
Fiscal YearFY 2022FY 2023FY 2024FY 2025FY 2026FY 2027
Period EndingMar 31, 2022Mar 31, 2023Mar 31, 2024Mar 31, 2025Mar 31, 2026Mar 31, 2027
Revenue
61.28B80.90B93.23B103.89B106.94B125.84B
Revenue Growth
27.91%32.01%15.25%11.43%2.94%17.67%
Operating Income
3.10B4.85B6.64B7.53B8.19B10.67B
Net Income
3.12B4.50B6.45B6.34B7.21B8.50B
EPS
----67.8373.77
EPS Growth
----20.46%8.75%
Forward PE
-----58.62
Dividend / Share
9.0010.0012.0014.0014.0018.41
Dividend Growth
-11.11%20.00%16.67%-31.50%
Free Cash Flow
2.94B-2.32B-6.51B212.08M-3.11B6.99B
No. Analysts
-----19
EPS and Forward PE are based on non-GAAP adjusted numbers. Financial currency is INR.

Revenue Forecast

Revenue202720282029
High132.1B
Avg125.8B
Low119.5B

Revenue Growth

Revenue Growth202720282029
High
23.6%
Avg
17.7%
Low
11.7%

EPS Forecast

EPS202720282029
High87.16
Avg73.77
Low64.20

EPS Growth

EPS Growth202720282029
High
28.5%
Avg
8.8%
Low
-5.4%