Thermax Limited (BOM:500411)

Thermax Statistics

Total Valuation

Thermax has a market cap or net worth of INR 327.59 billion. The enterprise value is 320.52 billion.

Market Cap	327.59B
Enterprise Value	320.52B

Important Dates

The next estimated earnings date is Monday, February 2, 2026.

Earnings Date	Feb 2, 2026
Ex-Dividend Date	Jul 4, 2025

Share Statistics

Current Share Class	112.64M
Shares Outstanding	n/a
Shares Change (YoY)	+0.02%
Shares Change (QoQ)	-0.03%
Owned by Insiders (%)	0.01%
Owned by Institutions (%)	19.49%
Float	32.51M

Valuation Ratios

The trailing PE ratio is 55.18 and the forward PE ratio is 43.14.

PE Ratio	55.18
Forward PE	43.14
PS Ratio	3.20
PB Ratio	6.47
P/TBV Ratio	6.76
P/FCF Ratio	n/a
P/OCF Ratio	55.53
PEG Ratio	n/a

Enterprise Valuation

The stock's EV/EBITDA ratio is 36.36, with an EV/FCF ratio of -181.02.

EV / Earnings	53.99
EV / Sales	3.13
EV / EBITDA	36.36
EV / EBIT	45.20
EV / FCF	-181.02

Financial Position

The company has a current ratio of 1.33, with a Debt / Equity ratio of 0.36.

Current Ratio	1.33
Quick Ratio	1.01
Debt / Equity	0.36
Debt / EBITDA	2.05
Debt / FCF	-10.23
Interest Coverage	6.64

Financial Efficiency

Return on equity (ROE) is 12.18% and return on invested capital (ROIC) is 12.00%.

Return on Equity (ROE)	12.18%
Return on Assets (ROA)	3.83%
Return on Invested Capital (ROIC)	12.00%
Return on Capital Employed (ROCE)	10.52%
Weighted Average Cost of Capital (WACC)	n/a
Revenue Per Employee	18.26M
Profits Per Employee	1.06M
Employee Count	5,601
Asset Turnover	0.88
Inventory Turnover	6.36

Taxes

In the past 12 months, Thermax has paid 2.52 billion in taxes.

Income Tax	2.52B
Effective Tax Rate	29.92%

Stock Price Statistics

The stock price has decreased by -25.46% in the last 52 weeks.

Beta (5Y)	n/a
52-Week Price Change	-25.46%
50-Day Moving Average	2,941.25
200-Day Moving Average	3,272.86
Relative Strength Index (RSI)	40.13
Average Volume (20 Days)	3,572

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 102.26 billion and earned 5.94 billion in profits. Earnings per share was 52.68.

Revenue	102.26B
Gross Profit	47.02B
Operating Income	7.09B
Pretax Income	8.42B
Net Income	5.94B
EBITDA	8.73B
EBIT	7.09B
Earnings Per Share (EPS)	52.68

Balance Sheet

The company has 25.26 billion in cash and 18.11 billion in debt, with a net cash position of 7.15 billion.

Cash & Cash Equivalents	25.26B
Total Debt	18.11B
Net Cash	7.15B
Net Cash Per Share	n/a
Equity (Book Value)	50.60B
Book Value Per Share	448.41
Working Capital	18.20B

Cash Flow

In the last 12 months, operating cash flow was 5.90 billion and capital expenditures -7.67 billion, giving a free cash flow of -1.77 billion.

Operating Cash Flow	5.90B
Capital Expenditures	-7.67B
Free Cash Flow	-1.77B
FCF Per Share	n/a

Margins

Gross margin is 45.98%, with operating and profit margins of 6.94% and 5.81%.

Gross Margin	45.98%
Operating Margin	6.94%
Pretax Margin	8.23%
Profit Margin	5.81%
EBITDA Margin	8.54%
EBIT Margin	6.94%
FCF Margin	n/a

Dividends & Yields

This stock pays an annual dividend of 14.00, which amounts to a dividend yield of 0.47%.

Dividend Per Share	14.00
Dividend Yield	0.47%
Dividend Growth (YoY)	16.67%
Years of Dividend Growth	4
Payout Ratio	26.58%
Buyback Yield	-0.02%
Shareholder Yield	0.45%
Earnings Yield	1.81%
FCF Yield	-0.54%

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

Altman Z-Score	n/a
Piotroski F-Score	4