What is the share price of Thermax Limited (THERMAX) today?
The share price of THERMAX as on 12th October 2026 is ₹3308.50. The stock prices are volatile and keep changing through the day depending upon various factors and market conditions.What is the return on Thermax Limited (THERMAX) share?
The past returns of Thermax Limited (THERMAX) share are- Past 1 week: -2.53%
- Past 1 month: -9.59%
- Past 3 months: -31.20%
- Past 6 months: -14.53%
- Past 1 year: 3.73%
- Past 3 years: 11.89%
- Past 5 years: 137.07%
What are the peers or stocks similar to Thermax Limited (THERMAX)?
The peers or stocks similar to Thermax Limited (THERMAX) include:What is the dividend yield % of Thermax Limited (THERMAX) share?
The current dividend yield of Thermax Limited (THERMAX) is 0.61.What is the market cap of Thermax Limited (THERMAX) share?
Market capitalization, short for market cap, is the market value of a publicly traded company's outstanding shares. The market cap of Thermax Limited (THERMAX) is ₹36683.84 Cr as of 12th October 2026.What is the 52 week high and low of Thermax Limited (THERMAX) share?
The 52-week high of Thermax Limited (THERMAX) is ₹5277.80 and the 52-week low is ₹2742.70.What is the PE and PB ratio of Thermax Limited (THERMAX) stock?
The P/E (price-to-earnings) ratio of Thermax Limited (THERMAX) is 50.91. The P/B (price-to-book) ratio is 6.58.Which sector does Thermax Limited (THERMAX) belong to?
Thermax Limited (THERMAX) belongs to the Industrials sector & Industrial Machinery sub-sector.How to buy Thermax Limited (THERMAX) shares?
You can directly buy Thermax Limited (THERMAX) shares on Tickertape. Simply sign up, connect your demat account and place your order.
Thermax Limited
THERMAX Share Price
NSE₹3,308.501.60% (+52.20)
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THERMAX Stock Scorecard
Performance
AvgPrice return has been average, nothing exciting
Valuation
HighSeems to be overvalued vs the market average
Growth
LowLagging behind the market in financials growth
Profitability
HighShowing good signs of profitability & efficiency
Entry point
GoodThe stock is underpriced and is not in the overbought zone
Red flags
LowNo red flag found
How to use scorecard? Learn more
THERMAX Performance & Key Metrics
THERMAX Performance & Key Metrics
| No LabelNo Label | PB RatioPB Ratio | Dividend YieldDiv. Yield |
|---|---|---|
| 61.82 | 6.58 | 0.61% |
| Sector PESector PE | Sector PBSector PB | Sector Div YldSctr Div Yld |
|---|---|---|
| 42.95 | 5.68 | 0.85% |
50%
Analysts have suggested that investors can buy this stock
from 18 analysts
Price Upside
Earnings Growth
Rev. Growth
THERMAX Company Profile
Thermax Limited is engaged in the business of manufacture and sale of boilers, heating and cooling equipment, industrial chemicals, and water and waste management equipment.
CUMMINSIND
PE Ratio
56.69
56.69
1Y Return
22.19%
22.19%
Buy Reco %
73.68
73.68
AIAENG
PE Ratio
27.46
27.46
1Y Return
15.87%
15.87%
Buy Reco %
81.82
81.82
KIRLOSENG
PE Ratio
56.02
56.02
1Y Return
147.99%
147.99%
Buy Reco %
83.33
83.33
CRAFTSMAN
PE Ratio
69.36
69.36
1Y Return
66.80%
66.80%
Buy Reco %
75.00
75.00
MTARTECH
PE Ratio
254.55
254.55
1Y Return
307.46%
307.46%
Buy Reco %
100.00
100.00
THERMAX Sentiment Analysis
THERMAX Sentiment Analysis
New
Crisp summary & key insights to decode earnings calls instantly
THERMAX Stock Summary · August 2026
Management’s message was broadly constructive, but shaped by near-term execution setbacks in a few legacy contracts and shipment delays. Revenue growth in Q1 was only modest because about INR 300 crores of industrial finished goods could not be shipped, while a government EPC project suffered a fresh cost-to-completion hit and another large FY22 project moved into negative profitability, with losses nearing INR 150 crores. Industrial margins were also squeezed by a sharp spike in steel prices, even as management said underlying demand had not weakened. At the same time, the company emphasized a stronger, higher-quality backlog, better order momentum than last year, and a deliberate exit from unattractive government bidding, with only about INR 300–400 crores of PSU exposure left. Management also flagged drag from FEPL transition costs and a still-unwinding Bio-CNG business. Looking ahead, it said shipment bottlenecks should ease, margin pressure should moderate in Q3 and Q4, and the full year should bring better revenue conversion, profitability, and order inflow.
THERMAX Stock Growth Drivers
THERMAX Stock Growth Drivers
12Backlog Conversion and Revenue Leverage
The company has a high-quality backlog that is expected to convert into revenue over the
Order Momentum and Pipeline Strength
Management remains bullish on demand, citing a broad opportunity pipeline, strong international visibility, and an
THERMAX Stock Challenges
THERMAX Stock Challenges
6Execution setbacks in legacy government EPC and PSU projects
Thermax’s most severe negative theme was execution stress on legacy government-linked projects, especially loss-making EPC
Industrial Products shipment bottlenecks and cost pressure
Industrial Products was weighed down by a large shipment bottleneck, with roughly INR 300 crore
THERMAX Forecast
THERMAX Forecasts
Price
Revenue
Earnings
THERMAX Share Price Forecast
THERMAX Share Price Forecast
2026
Current
₹3,308.50
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Forecast for Oct 2027
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2026
Current
₹3,308.50
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THERMAX Company Revenue Forecast
THERMAX Company Revenue Forecast
2026
Current
₹11.12
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Forecast for Mar 2027
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2026
Current
₹11.12
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THERMAX Stock EPS (Earnings Per Share) Forecast
THERMAX Stock EPS (Earnings Per Share) Forecast
2026
Current
₹63.98
Baseline
Forecast for Mar 2027
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2026
Current
₹63.98
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₹—
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THERMAX
THERMAX
Income
Balance Sheet
Cash Flow
Quarterly Normal View
THERMAX Income Statement
THERMAX Income Statement
Quarterly Normal View
| Quarter | mar 2024 | jun 2024 | sep 2024 | dec 2024 | mar 2025 | jun 2025 | sep 2025 | dec 2025 | mar 2026 | jun 2026 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 2,819.08 | 2,268.50 | 2,675.46 | 2,560.23 | 3,123.96 | 2,223.16 | 2,559.31 | 2,756.16 | 3,484.22 | 2,370.92 | ||||||||||
Operating & Other expenses | 2,490.53 | 2,043.68 | 2,337.75 | 2,340.23 | 2,746.73 | 1,932.61 | 2,302.00 | 2,379.97 | 3,053.73 | 2,234.11 | ||||||||||
EBITDA | 328.55 | 224.82 | 337.71 | 220.00 | 377.23 | 290.55 | 257.31 | 376.19 | 430.49 | 136.81 | ||||||||||
| Depreciation/Amortization | 49.88 | 36.03 | 42.07 | 35.07 | 45.34 | 48.88 | 51.47 | 53.28 | 54.01 | 59.52 | ||||||||||
| PBIT | 278.67 | 188.79 | 295.64 | 184.93 | 331.89 | 241.67 | 205.84 | 322.91 | 376.48 | 77.29 | ||||||||||
| Interest & Other Items | 27.81 | 27.48 | 29.39 | 28.66 | 31.25 | 30.20 | 32.17 | 34.24 | 42.35 | 35.15 | ||||||||||
| PBT | 250.86 | 161.31 | 266.25 | 156.27 | 300.64 | 211.47 | 173.67 | 288.67 | 334.13 | 42.14 | ||||||||||
| Taxes & Other Items | 60.53 | 45.50 | 69.22 | 40.37 | 94.91 | 59.09 | 54.01 | 84.49 | 89.85 | 16.90 | ||||||||||
| Net Income | 190.33 | 115.81 | 197.03 | 115.90 | 205.73 | 152.38 | 119.66 | 204.18 | 244.28 | 25.24 | ||||||||||
| EPS | 16.90 | 10.28 | 17.49 | 10.29 | 18.27 | 13.53 | 10.62 | 18.12 | 21.68 | 2.24 |
THERMAX Company Updates
FY 2027FY 2027
Investor Presentation
Jul 31PDF
Jul 30PDF
THERMAX Stock Peers
THERMAX Past Performance & Peer Comparison
THERMAX Past Performance & Peer Comparison
Comparing 3 stocks from
IndustrialsIndustrial Machinery
Compare valuation on Screener
IndustrialsIndustrial Machinery
Valuation
Technical
Forecast
Compare valuation on Screener| Stock | PE RatioPE Ratio | PB RatioPB Ratio | Div. YieldDividend Yield |
|---|---|---|---|
| Thermax Limited | 50.91 | 6.58 | 0.61% |
| Cummins India Ltd | 56.69 | 15.80 | 1.37% |
| AIA Engineering Ltd | 27.46 | 4.34 | 0.43% |
| Kirloskar Oil Engines Ltd | 56.02 | 9.00 | 0.32% |
Compare valuation on ScreenerTHERMAX Stock Price Comparison
Compare THERMAX with any stock or ETFCompare THERMAX with any stock or ETF
THERMAX
THERMAX Holdings
THERMAX Shareholdings
THERMAX Promoter Holdings Trend
THERMAX Promoter Holdings Trend
Total Promoter Holding
Increasing promoter holding is considered good and reflects management’s positive view about the future outlook
In last 6 months, promoter holding in the company has almost stayed constant
Low Pledged Promoter Holding
Lower pledged promoter holdings is considered better
Pledged promoter holdings is insignificant
THERMAX Institutional Holdings Trend
THERMAX Institutional Holdings Trend
Total Retail Holding
Increasing retail holding can be considered bad as it can reflect that institutions and promoters are selling their stake which is being absorbed by retail investors.
In last 3 months, retail holding in the company has almost stayed constant
Foreign Institutional Holding
Foreign Institutional Holding is quantum of stock held by foreign large-quantities-trading entities. Increasing value indicates growing support and comfort for the stock
In last 3 months, foreign institutional holding of the company has almost stayed constant
THERMAX Shareholding Pattern
THERMAX Shareholding Pattern
THERMAX Shareholding History
THERMAX Shareholding History
Foreign Institutions
Mutual Funds Invested in THERMAX
Mutual Funds Invested in THERMAX
No mutual funds holding trends are available
Top 5 Mutual Funds holding Thermax Limited
| Funds (Top 5) | The rupee value of the stock held by the fund divided by the stock’s market cap Market-cap held | Percentage of the fund’s portfolio invested in the stock Weight | Change in the portfolio weight of the stock over the last 3 months 3M holding change | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months Portfolio rank(3M change) |
|---|---|---|---|---|
The rupee value of the stock held by the fund divided by the stock’s market cap 2.1777% | Percentage of the fund’s portfolio invested in the stock 1.50% | Change in the portfolio weight of the stock over the last 3 months -0.50% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 23/64 (-5) | |
The rupee value of the stock held by the fund divided by the stock’s market cap 2.1670% | Percentage of the fund’s portfolio invested in the stock 1.52% | Change in the portfolio weight of the stock over the last 3 months -0.78% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 27/62 (-11) | |
The rupee value of the stock held by the fund divided by the stock’s market cap 1.8458% | Percentage of the fund’s portfolio invested in the stock 1.35% | Change in the portfolio weight of the stock over the last 3 months -1.16% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 25/31 (-10) |
Compare 3-month MF holding change on Screener
Hmm, looks like there hasn't been any net deal activity in the last 6 monthssmallcases containing THERMAX stock
smallcases containing THERMAX stock
Looks like this stock is not in any smallcase yet.
THERMAX Events
THERMAX Events
THERMAX Dividend Trend
Increasing Dividends
Dividends are the portion of earnings that a company distributes to all its shareholders every year
THERMAX has increased dividends consistently over the last 5 years
Dividend Yield
Dividend return is one of the most important things to be considered while investing for long term. It is the additional return on top of what investors earn through price appreciation
Current dividend yield is 0.61%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹6.14 every year
Dividends
Corp. Actions
Announcements
Legal Orders
Dividends
THERMAX Dividend Trend
Increasing Dividends
Dividends are the portion of earnings that a company distributes to all its shareholders every year
THERMAX has increased dividends consistently over the last 5 years
Dividend Yield
Dividend return is one of the most important things to be considered while investing for long term. It is the additional return on top of what investors earn through price appreciation
Current dividend yield is 0.61%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹6.14 every year
THERMAX Upcoming Dividends
THERMAX Upcoming Dividends
No upcoming dividends are available
THERMAX Past Dividends
THERMAX Past Dividends
Cash Dividend
Ex DateEx DateJul 3, 2026
Special
Special | Div/Share: ₹6.00
Dividend/Share
₹6.00
Ex DateEx Date
Jul 3, 2026
Cash Dividend
Ex DateEx DateJul 3, 2026
Final
Final | Div/Share: ₹14.00
Dividend/Share
₹14.00
Ex DateEx Date
Jul 3, 2026
Cash Dividend
Ex DateEx DateJul 4, 2025
Final
Final | Div/Share: ₹14.00
Dividend/Share
₹14.00
Ex DateEx Date
Jul 4, 2025
Cash Dividend
Ex DateEx DateJul 5, 2024
Final
Final | Div/Share: ₹12.00
Dividend/Share
₹12.00
Ex DateEx Date
Jul 5, 2024
Cash Dividend
Ex DateEx DateJul 21, 2023
Final
Final | Div/Share: ₹10.00
Dividend/Share
₹10.00
Ex DateEx Date
Jul 21, 2023
THERMAX Stock News & Opinions
THERMAX Stock News & Opinions
Articles & Videos
Spotlight
Spotlight
Thermax Ltd spurts 1.47%, rises for third straight sessionThermax Ltd rose for a third straight session today. The stock is quoting at Rs 3692, up 1.47% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.11% on the day, quoting at 23456.55. The Sensex is at 74850.06, up 0.11%. Thermax Ltd has dropped around 8.29% in last one month. Meanwhile, Nifty Energy index of which Thermax Ltd is a constituent, has dropped around 1.05% in last one month and is currently quoting at 38333.65, down 0.08% on the day. The volume in the stock stood at 68207 shares today, compared to the daily average of 1.39 lakh shares in last one month.The PE of the stock is 83.72 based on TTM earnings ending June 26.
1 month agoCapital Market - Live
Earnings
Earnings
Thermax consolidated net profit declines 83.44% in the June 2026 quarterNet profit of Thermax declined 83.44% to Rs 25.24 crore in the quarter ended June 2026 as against Rs 152.38 crore during the previous quarter ended June 2025. Sales rose 6.73% to Rs 2302.73 crore in the quarter ended June 2026 as against Rs 2157.53 crore during the previous quarter ended June 2025. ParticularsQuarter EndedJun. 2026Jun. 2025% Var. Sales2302.732157.53 7 OPM %2.9810.42 - PBDT101.66260.35 -61 PBT42.14211.47 -80 NP25.24152.38 -83 Powered by Capital Market - Live
2 months agoCapital Market - Live
Spotlight
Spotlight
Thermax Ltd slips for fifth straight sessionThermax Ltd dropped for a fifth straight session today. The stock is quoting at Rs 4408.5, down 1.03% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.07% on the day, quoting at 23978.55. The Sensex is at 76785.26, down 0.07%.Thermax Ltd has lost around 13.98% in last one month.Meanwhile, Nifty Energy index of which Thermax Ltd is a constituent, has eased around 3.86% in last one month and is currently quoting at 38830.1, down 1.66% on the day. The volume in the stock stood at 56619 shares today, compared to the daily average of 2.55 lakh shares in last one month.The PE of the stock is 111.24 based on TTM earnings ending March 26.
2 months agoCapital Market - Live
Spotlight
Spotlight
Thermax Ltd soars 2.4%, gains for fifth straight sessionThermax Ltd is up for a fifth straight session today. The stock is quoting at Rs 4823.5, up 2.4% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.27% on the day, quoting at 24172.8. The Sensex is at 77442.96, down 0.34%. Thermax Ltd has slipped around 0.83% in last one month. Meanwhile, Nifty Energy index of which Thermax Ltd is a constituent, has slipped around 2.97% in last one month and is currently quoting at 39663.45, down 0.25% on the day. The volume in the stock stood at 1.72 lakh shares today, compared to the daily average of 2.67 lakh shares in last one month.The PE of the stock is 117.8 based on TTM earnings ending March 26.Powered by Capital Market - Live
2 months agoCapital Market - Live
Spotlight
Spotlight
Thermax Ltd soars 1.57%, up for third straight sessionThermax Ltd rose for a third straight session today. The stock is quoting at Rs 4653, up 1.57% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.92% on the day, quoting at 24294. The Sensex is at 77994.28, up 1.05%. Thermax Ltd has dropped around 0.92% in last one month. Meanwhile, Nifty Energy index of which Thermax Ltd is a constituent, has dropped around 2.97% in last one month and is currently quoting at 39345.8, down 0.22% on the day. The volume in the stock stood at 1.54 lakh shares today, compared to the daily average of 2.65 lakh shares in last one month.The PE of the stock is 114.57 based on TTM earnings ending March 26.Powered by Capital Market - Live
2 months agoCapital Market - Live
Corporate
Corporate
Thermax to convene board meetingThermax will hold a meeting of the Board of Directors of the Company on 30 July 2026.
2 months agoCapital Market - Live
Spotlight
Spotlight
Thermax Ltd leads losers in 'A' groupNewgen Software Technologies Ltd, NIIT Learning Systems Ltd, Aegis Logistics Ltd and Mangalore Refinery And Petrochemicals Ltd are among the other losers in the BSE's 'A' group today, 14 July 2026.Thermax Ltd lost 5.95% to Rs 4387 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 22042 shares were traded on the counter so far as against the average daily volumes of 27052 shares in the past one month.Newgen Software Technologies Ltd crashed 5.87% to Rs 555.6. The stock was the second biggest loser in 'A' group.On the BSE, 5.27 lakh shares were traded on the counter so far as against the average daily volumes of 2.66 lakh shares in the past one month.NIIT Learning Systems Ltd tumbled 5.84% to Rs 240.1. The stock was the third biggest loser in 'A' group.On the BSE, 23112 shares were traded on the counter so far as against the average daily volumes of 96242 shares in the past one month.Aegis Logistics Ltd pared 5.29% to Rs 1225.7. The stock was the fourth biggest loser in 'A' group.On the BSE, 1.54 lakh shares were traded on the counter so far as against the average daily volumes of 2.21 lakh shares in the past one month.Mangalore Refinery And Petrochemicals Ltd shed 4.83% to Rs 156.75. The stock was the fifth biggest loser in 'A' group.On the BSE, 3.06 lakh shares were traded on the counter so far as against the average daily volumes of 4.49 lakh shares in the past one month.Powered by Capital Market - Live
2 months agoCapital Market - Live
Corporate
Corporate
Thermax schedules AGMThermax announced that the Annual General Meeting(AGM) of the company will be held on 30 July 2026.
3 months agoCapital Market - Live
Corporate
Corporate
NCLT approves merger of Buildtech Products India with ThermaxThermax announced that the Hon'ble National Company Law Tribunal, Mumbai Bench (NCLT) has passed an order approving the Scheme of Merger by Absorption of Buildtech Products India with the Company.
4 months agoCapital Market - Live
Spotlight
Spotlight
Thermax Ltd soars 8.26%, rises for third straight sessionThermax Ltd rose for a third straight session today. The stock is quoting at Rs 4970, up 8.26% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.23% on the day, quoting at 23851.2. The Sensex is at 75767.34, down 0.13%. Thermax Ltd has added around 21.89% in last one month. Meanwhile, Nifty Energy index of which Thermax Ltd is a constituent, has added around 1.34% in last one month and is currently quoting at 41535.75, down 0.52% on the day. The volume in the stock stood at 10.97 lakh shares today, compared to the daily average of 4.5 lakh shares in last one month.The PE of the stock is 94.73 based on TTM earnings ending March 26.Powered by Capital Market - Live
4 months agoCapital Market - Live
Over the last 5 years, revenue has grown at a yearly rate of 17.82%, vs industry avg of 16.75%
Over the last 5 years, market share decreased from 7.87% to 7.2%
Over the last 5 years, net income has grown at a yearly rate of 28.38%, vs industry avg of 22.66%