Thermax Limited (NSE:THERMAX)

Thermax Statistics

Total Valuation

Thermax has a market cap or net worth of INR 361.21 billion. The enterprise value is 351.25 billion.

Market Cap	361.21B
Enterprise Value	351.25B

Important Dates

The next estimated earnings date is Tuesday, November 11, 2025.

Earnings Date	Nov 11, 2025
Ex-Dividend Date	Jul 4, 2025

Share Statistics

Thermax has 112.64 million shares outstanding. The number of shares has increased by 0.01% in one year.

Current Share Class	112.64M
Shares Outstanding	112.64M
Shares Change (YoY)	+0.01%
Shares Change (QoQ)	+0.04%
Owned by Insiders (%)	0.01%
Owned by Institutions (%)	21.83%
Float	32.52M

Valuation Ratios

The trailing PE ratio is 53.85 and the forward PE ratio is 44.46. Thermax's PEG ratio is 2.03.

PE Ratio	53.85
Forward PE	44.46
PS Ratio	3.49
PB Ratio	7.31
P/TBV Ratio	7.61
P/FCF Ratio	n/a
P/OCF Ratio	n/a
PEG Ratio	2.03

Enterprise Valuation

EV / Earnings	52.34
EV / Sales	3.39
EV / EBITDA	35.85
EV / EBIT	42.60
EV / FCF	n/a

Financial Position

Current Ratio	n/a
Quick Ratio	n/a
Debt / Equity	0.35
Debt / EBITDA	1.75
Debt / FCF	n/a
Interest Coverage	7.93

Financial Efficiency

Return on Equity (ROE)	n/a
Return on Assets (ROA)	n/a
Return on Invested Capital (ROIC)	8.33%
Return on Capital Employed (ROCE)	n/a
Revenue Per Employee	18.49M
Profits Per Employee	1.20M
Employee Count	5,601
Asset Turnover	n/a
Inventory Turnover	n/a

Taxes

In the past 12 months, Thermax has paid 2.66 billion in taxes.

Income Tax	2.66B
Effective Tax Rate	28.45%

Stock Price Statistics

The stock price has decreased by -35.82% in the last 52 weeks. The beta is 0.06, so Thermax's price volatility has been lower than the market average.

Beta (5Y)	0.06
52-Week Price Change	-35.82%
50-Day Moving Average	3,242.26
200-Day Moving Average	3,412.68
Relative Strength Index (RSI)	47.57
Average Volume (20 Days)	77,213

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 103.54 billion and earned 6.71 billion in profits. Earnings per share was 59.55.

Revenue	103.54B
Gross Profit	47.09B
Operating Income	8.25B
Pretax Income	9.35B
Net Income	6.71B
EBITDA	9.72B
EBIT	8.25B
Earnings Per Share (EPS)	59.55

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 or 88.99 per share.

Cash & Cash Equivalents	27.20B
Total Debt	17.18B
Net Cash	10.02B
Net Cash Per Share	88.99
Equity (Book Value)	49.43B
Book Value Per Share	438.29
Working Capital	n/a

Cash Flow

Operating Cash Flow	n/a
Capital Expenditures	n/a
Free Cash Flow	n/a
FCF Per Share	n/a

Margins

Gross margin is 45.48%, with operating and profit margins of 7.96% and 6.48%.

Gross Margin	45.48%
Operating Margin	7.96%
Pretax Margin	9.03%
Profit Margin	6.48%
EBITDA Margin	9.38%
EBIT Margin	7.96%
FCF Margin	n/a

Dividends & Yields

This stock pays an annual dividend of 14.00, which amounts to a dividend yield of 0.43%.

Dividend Per Share	14.00
Dividend Yield	0.43%
Dividend Growth (YoY)	16.67%
Years of Dividend Growth	3
Payout Ratio	23.51%
Buyback Yield	-0.01%
Shareholder Yield	0.43%
Earnings Yield	1.86%
FCF Yield	n/a

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	2