Thermax Limited (BOM:500411)

Thermax Statistics

Total Valuation

Thermax has a market cap or net worth of INR 437.99 billion. The enterprise value is 428.02 billion.

Market Cap	437.99B
Enterprise Value	428.02B

Important Dates

The next estimated earnings date is Friday, August 1, 2025.

Earnings Date	Aug 1, 2025
Ex-Dividend Date	Jul 4, 2025

Share Statistics

Current Share Class	112.64M
Shares Outstanding	n/a
Shares Change (YoY)	+0.01%
Shares Change (QoQ)	+0.03%
Owned by Insiders (%)	n/a
Owned by Institutions (%)	n/a
Float	32.52M

Valuation Ratios

The trailing PE ratio is 69.03 and the forward PE ratio is 54.22.

PE Ratio	69.03
Forward PE	54.22
PS Ratio	4.22
PB Ratio	8.86
P/TBV Ratio	9.23
P/FCF Ratio	312.58
P/OCF Ratio	42.00
PEG Ratio	n/a

Enterprise Valuation

The stock's EV/EBITDA ratio is 47.38, with an EV/FCF ratio of 305.47.

EV / Earnings	67.46
EV / Sales	4.12
EV / EBITDA	47.38
EV / EBIT	56.83
EV / FCF	305.47

Financial Position

The company has a current ratio of 1.30, with a Debt / Equity ratio of 0.35.

Current Ratio	1.30
Quick Ratio	1.05
Debt / Equity	0.35
Debt / EBITDA	1.90
Debt / FCF	12.26
Interest Coverage	7.44

Financial Efficiency

Return on equity (ROE) is 13.36% and return on invested capital (ROIC) is 7.61%.

Return on Equity (ROE)	13.36%
Return on Assets (ROA)	4.24%
Return on Invested Capital (ROIC)	7.61%
Return on Capital Employed (ROCE)	11.77%
Revenue Per Employee	18.55M
Profits Per Employee	1.13M
Employee Count	3,704
Asset Turnover	0.94
Inventory Turnover	7.83

Taxes

In the past 12 months, Thermax has paid 2.58 billion in taxes.

Income Tax	2.58B
Effective Tax Rate	29.14%

Stock Price Statistics

The stock price has decreased by -23.82% in the last 52 weeks.

Beta (5Y)	n/a
52-Week Price Change	-23.82%
50-Day Moving Average	3,488.11
200-Day Moving Average	3,920.02
Relative Strength Index (RSI)	74.54
Average Volume (20 Days)	17,319

Short Selling Information

Short Interest	n/a
Short Previous Month	n/a
Short % of Shares Out	n/a
Short % of Float	n/a
Short Ratio (days to cover)	n/a

Income Statement

In the last 12 months, Thermax had revenue of INR 103.89 billion and earned 6.34 billion in profits. Earnings per share was 56.31.

Revenue	103.89B
Gross Profit	45.75B
Operating Income	7.53B
Pretax Income	8.84B
Net Income	6.34B
EBITDA	8.95B
EBIT	7.53B
Earnings Per Share (EPS)	56.31

Balance Sheet

The company has 27.20 billion in cash and 17.18 billion in debt, giving a net cash position of 10.02 billion.

Cash & Cash Equivalents	27.20B
Total Debt	17.18B
Net Cash	10.02B
Net Cash Per Share	n/a
Equity (Book Value)	49.43B
Book Value Per Share	438.29
Working Capital	16.87B

Cash Flow

In the last 12 months, operating cash flow was 10.43 billion and capital expenditures -9.03 billion, giving a free cash flow of 1.40 billion.

Operating Cash Flow	10.43B
Capital Expenditures	-9.03B
Free Cash Flow	1.40B
FCF Per Share	n/a

Margins

Gross margin is 44.04%, with operating and profit margins of 7.25% and 6.11%.

Gross Margin	44.04%
Operating Margin	7.25%
Pretax Margin	8.51%
Profit Margin	6.11%
EBITDA Margin	8.62%
EBIT Margin	7.25%
FCF Margin	1.35%

Dividends & Yields

This stock pays an annual dividend of 14.00, which amounts to a dividend yield of 0.40%.

Dividend Per Share	14.00
Dividend Yield	0.40%
Dividend Growth (YoY)	16.67%
Years of Dividend Growth	3
Payout Ratio	21.31%
Buyback Yield	-0.01%
Shareholder Yield	0.39%
Earnings Yield	1.45%
FCF Yield	0.32%

Fair Value

There are several formulas that can be used to estimate the intrinsic value of a stock.

Lynch Fair Value
Lynch Upside
Graham Number
Graham Upside

Stock Splits

The last stock split was on March 31, 2006. It was a forward split with a ratio of 5.

Last Split Date	Mar 31, 2006
Split Type	Forward
Split Ratio	5

Scores

Thermax has an Altman Z-Score of 6.09 and a Piotroski F-Score of 5.

Altman Z-Score	6.09
Piotroski F-Score	5