Thermax Limited (NSE:THERMAX)

Thermax Statistics

Total Valuation

Thermax has a market cap or net worth of INR 464.65 billion. The enterprise value is 457.58 billion.

Market Cap	464.65B
Enterprise Value	457.58B

Important Dates

The next confirmed earnings date is Thursday, May 7, 2026.

Earnings Date	May 7, 2026
Ex-Dividend Date	Jul 4, 2025

Share Statistics

Thermax has 112.64 million shares outstanding. The number of shares has decreased by -0.03% in one year.

Current Share Class	112.64M
Shares Outstanding	112.64M
Shares Change (YoY)	-0.03%
Shares Change (QoQ)	+0.01%
Owned by Insiders (%)	0.01%
Owned by Institutions (%)	20.57%
Float	32.51M

Valuation Ratios

The trailing PE ratio is 68.16 and the forward PE ratio is 61.00. Thermax's PEG ratio is 2.87.

PE Ratio	68.16
Forward PE	61.00
PS Ratio	4.50
PB Ratio	9.18
P/TBV Ratio	9.59
P/FCF Ratio	n/a
P/OCF Ratio	n/a
PEG Ratio	2.87

Enterprise Valuation

EV / Earnings	67.10
EV / Sales	4.43
EV / EBITDA	49.59
EV / EBIT	60.44
EV / FCF	n/a

Financial Position

Current Ratio	n/a
Quick Ratio	n/a
Debt / Equity	0.36
Debt / EBITDA	1.96
Debt / FCF	n/a
Interest Coverage	6.73

Financial Efficiency

Return on Equity (ROE)	n/a
Return on Assets (ROA)	n/a
Return on Invested Capital (ROIC)	12.18%
Return on Capital Employed (ROCE)	n/a
Weighted Average Cost of Capital (WACC)	4.29%
Revenue Per Employee	18.45M
Profits Per Employee	1.22M
Employee Count	5,601
Asset Turnover	n/a
Inventory Turnover	n/a

Taxes

In the past 12 months, Thermax has paid 2.93 billion in taxes.

Income Tax	2.93B
Effective Tax Rate	30.07%

Stock Price Statistics

The stock price has increased by +18.59% in the last 52 weeks. The beta is 0.01, so Thermax's price volatility has been lower than the market average.

Beta (5Y)	0.01
52-Week Price Change	+18.59%
50-Day Moving Average	3,277.75
200-Day Moving Average	3,213.94
Relative Strength Index (RSI)	72.93
Average Volume (20 Days)	258,439

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 103.32 billion and earned 6.82 billion in profits. Earnings per share was 60.52.

Revenue	103.32B
Gross Profit	48.58B
Operating Income	7.57B
Pretax Income	9.74B
Net Income	6.82B
EBITDA	9.14B
EBIT	7.57B
Earnings Per Share (EPS)	60.52

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 or 63.47 per share.

Cash & Cash Equivalents	25.26B
Total Debt	18.11B
Net Cash	7.15B
Net Cash Per Share	63.47
Equity (Book Value)	50.60B
Book Value Per Share	448.41
Working Capital	n/a

Cash Flow

Operating Cash Flow	n/a
Capital Expenditures	n/a
Depreciation & Amortization	1.58B
Net Borrowing	n/a
Free Cash Flow	n/a
FCF Per Share	n/a

Margins

Gross margin is 47.02%, with operating and profit margins of 7.33% and 6.60%.

Gross Margin	47.02%
Operating Margin	7.33%
Pretax Margin	9.43%
Profit Margin	6.60%
EBITDA Margin	8.85%
EBIT Margin	7.33%
FCF Margin	n/a

Dividends & Yields

This stock pays an annual dividend of 14.00, which amounts to a dividend yield of 0.34%.

Dividend Per Share	14.00
Dividend Yield	0.34%
Dividend Growth (YoY)	16.67%
Years of Dividend Growth	4
Payout Ratio	n/a
Buyback Yield	0.03%
Shareholder Yield	0.36%
Earnings Yield	1.47%
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