What is the share price of Thermax Limited (THERMAX) today?
The share price of THERMAX as on 29th May 2026 is ₹4982.70. 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: 10.75%
- Past 1 month: 23.03%
- Past 3 months: 59.81%
- Past 6 months: 70.85%
- Past 1 year: 45.76%
- Past 3 years: 120.89%
- Past 5 years: 249.92%
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 0.40.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 ₹56129.45 Cr as of 29th May 2026.What is the 52 week high and low of Thermax Limited (THERMAX) share?
The 52-week high of Thermax Limited (THERMAX) is ₹5075 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 77.90. The P/B (price-to-book) ratio is 11.36.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
NSETHERMAX 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
AvgThe stock is overpriced but 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 |
|---|---|---|
| 77.90 | 11.36 | 0.40% |
| Sector PESector PE | Sector PBSector PB | Sector Div YldSctr Div Yld |
|---|---|---|
| 40.01 | 6.83 | 0.53% |
from 19 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.
THERMAX Sentiment Analysis
THERMAX Sentiment Analysis
THERMAX Stock Summary · November 2025
The company is strategically realigning its focus towards profitability by addressing low-margin projects and enhancing project execution, particularly in the Industrial Infra segment. A recent accounting policy change has improved transparency in revenue recognition, while management expresses optimism for a significant revenue catch-up in the second half of the fiscal year, supported by a robust order backlog. Despite challenges in project execution and profitability, especially in the Chemicals and bio-CNG sectors, there is a positive outlook for growth driven by strong demand in key markets. The emphasis on selecting projects with favorable risk profiles and improving operational efficiency reflects a commitment to sustainable growth amid evolving market dynamics.
THERMAX Stock Growth Drivers
THERMAX Stock Growth Drivers
8Strong Order Book Growth
Thermax Limited has achieved a significant increase in its domestic order book, reporting over 25%
Successful Project Acquisitions
The company has secured notable international orders, including a significant contract for boilers from a
THERMAX Stock Challenges
THERMAX Stock Challenges
3Project Execution Challenges
The company is facing significant challenges in project execution, particularly with the Industrial Infra segment.
Low Profitability and Financial Performance
The company has reported low profitability margins across several segments, particularly in the Chemicals segment,
THERMAX Forecast
THERMAX Forecasts
Price
Revenue
Earnings
THERMAX Share Price Forecast
THERMAX Share Price Forecast
All values in ₹
All values in ₹
THERMAX Company Revenue Forecast
THERMAX Company Revenue Forecast
All values in ₹ Thousand cr.
All values in ₹ Thousand cr.
THERMAX Stock EPS (Earnings Per Share) Forecast
THERMAX Stock EPS (Earnings Per Share) Forecast
All values in ₹
All values in ₹
THERMAX
THERMAX
Income
Balance Sheet
Cash Flow
THERMAX Income Statement
THERMAX Income Statement
| Quarter | dec 2023 | mar 2024 | jun 2024 | sep 2024 | dec 2024 | mar 2025 | jun 2025 | sep 2025 | dec 2025 | mar 2026 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 2,508.88 | 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 | ||||||||||
| Operating & Other expenses | 2,137.27 | 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 | ||||||||||
| EBITDA | 371.61 | 328.55 | 224.82 | 337.71 | 220.00 | 377.23 | 290.55 | 257.31 | 376.19 | 430.49 | ||||||||||
| Depreciation/Amortization | 35.84 | 49.88 | 36.03 | 42.07 | 35.07 | 45.34 | 48.88 | 51.47 | 53.28 | 54.01 | ||||||||||
| PBIT | 335.77 | 278.67 | 188.79 | 295.64 | 184.93 | 331.89 | 241.67 | 205.84 | 322.91 | 376.48 | ||||||||||
| Interest & Other Items | 26.61 | 27.81 | 27.48 | 29.39 | 28.66 | 31.25 | 30.20 | 32.17 | 34.24 | 42.35 | ||||||||||
| PBT | 309.16 | 250.86 | 161.31 | 266.25 | 156.27 | 300.64 | 211.47 | 173.67 | 288.67 | 334.13 | ||||||||||
| Taxes & Other Items | 70.82 | 60.53 | 45.50 | 69.22 | 40.37 | 94.91 | 59.09 | 54.01 | 84.49 | 89.85 | ||||||||||
| Net Income | 238.34 | 190.33 | 115.81 | 197.03 | 115.90 | 205.73 | 152.38 | 119.66 | 204.18 | 244.28 | ||||||||||
| EPS | 21.17 | 16.90 | 10.28 | 17.49 | 10.29 | 18.27 | 13.53 | 10.62 | 18.12 | 21.68 |
THERMAX Company Updates
Investor Presentation
THERMAX Stock Peers
THERMAX Past Performance & Peer Comparison
THERMAX Past Performance & Peer Comparison
IndustrialsIndustrial Machinery
Valuation
Technical
Forecast
| Stock | PE RatioPE Ratio | PB RatioPB Ratio | Div. YieldDividend Yield |
|---|---|---|---|
| Thermax Limited | 77.90 | 11.36 | 0.40% |
| Cummins India Ltd | 69.03 | 21.56 | 1.12% |
| AIA Engineering Ltd | 33.09 | 6.06 | 0.36% |
| Kirloskar Oil Engines Ltd | 48.80 | 9.17 | 0.23% |
THERMAX Stock Price Comparison
Compare THERMAX with any stock or ETFTHERMAX Holdings
THERMAX Shareholdings
THERMAX Promoter Holdings Trend
THERMAX Promoter Holdings Trend
In last 6 months, promoter holding in the company has almost stayed constant
Pledged promoter holdings is insignificant
THERMAX Institutional Holdings Trend
THERMAX Institutional Holdings Trend
In last 3 months, retail holding in the company has almost stayed constant
In last 3 months, foreign institutional holding of the company has decreased by 1.12%
THERMAX Shareholding Pattern
THERMAX Shareholding Pattern
THERMAX Shareholding History
THERMAX Shareholding History
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 2.2867% | Percentage of the fund’s portfolio invested in the stock 2.21% | Change in the portfolio weight of the stock over the last 3 months 0.57% | 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 17/60 (+7) | |
The rupee value of the stock held by the fund divided by the stock’s market cap 1.8136% | Percentage of the fund’s portfolio invested in the stock 2.04% | Change in the portfolio weight of the stock over the last 3 months 0.38% | 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 20/33 (+2) | |
The rupee value of the stock held by the fund divided by the stock’s market cap 1.7150% | Percentage of the fund’s portfolio invested in the stock 1.62% | Change in the portfolio weight of the stock over the last 3 months 0.42% | 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 24/61 (+7) |
Compare 3-month MF holding change on Screener
smallcases containing THERMAX stock
smallcases containing THERMAX stock
Looks like this stock is not in any smallcase yet.
THERMAX Events
THERMAX Events
THERMAX Dividend Trend
THERMAX has increased dividends consistently over the last 5 years
Current dividend yield is 0.44%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹4.36 every year
Dividends
Corp. Actions
Announcements
Legal Orders
THERMAX Dividend Trend
THERMAX has increased dividends consistently over the last 5 years
Current dividend yield is 0.44%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹4.36 every year
THERMAX Upcoming Dividends
THERMAX Upcoming Dividends
No upcoming dividends are available
THERMAX Past Dividends
THERMAX Past Dividends
Cash Dividend
Ex DateEx DateJul 4, 2025
Dividend/Share
₹14.00
Ex DateEx Date
Jul 4, 2025
Cash Dividend
Ex DateEx DateJul 5, 2024
Dividend/Share
₹12.00
Ex DateEx Date
Jul 5, 2024
Cash Dividend
Ex DateEx DateJul 21, 2023
Dividend/Share
₹10.00
Ex DateEx Date
Jul 21, 2023
Cash Dividend
Ex DateEx DateJul 21, 2022
Dividend/Share
₹9.00
Ex DateEx Date
Jul 21, 2022
Cash Dividend
Ex DateEx DateJul 22, 2021
Dividend/Share
₹7.00
Ex DateEx Date
Jul 22, 2021
THERMAX Stock News & Opinions
THERMAX Stock News & Opinions
Thermax 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
Consolidated profit after tax stood at Rs 244.28 crore in Q4 FY26, up 18.74% from Rs 205.73 crore in Q4 FY25 and up 19.64% from Rs 204.18 crore in Q3 FY26. Revenue from operations increased 12.53% to Rs 3,428.04 crore in Q4 FY26 from Rs 3,046.40 crore in the corresponding quarter last year. Revenue rose 30.11% sequentially from Rs 2,634.68 crore in Q3 FY26. Profit before tax stood at Rs 334.13 crore in Q4 FY26, up 11.14% YoY from Rs 300.64 crore and higher by 15.75% QoQ from Rs 288.67 crore. On the cost front, raw material consumed rose 7.68% YoY to Rs 1,747.60 crore. Employee expenses climbed 17.90% YoY to Rs 391.46 crore. Interest costs rose 35.52% YoY to Rs 42.35 crore, while depreciation expense increased 19.12% YoY to Rs 54.01 crore. As of 31 March 2026, order balance stood at Rs 13,604 crore compared with Rs 10,693 crore a year earlier, reflecting a 27.22% increase. Order booking during the quarter jumped 111.89% to Rs 4,490 crore from Rs 2,119 crore in the corresponding quarter of the previous fiscal year. For the full year ended 31 March 2026, consolidated revenue increased 3.13% to Rs 10,694.15 crore from Rs 10,369.26 crore in FY25. Profit before tax rose 13.96% to Rs 1,007.94 crore from Rs 884.47 crore, while profit after tax increased 13.56% to Rs 720.50 crore. Net cash generated from operating activities declined to Rs 541.55 crore in FY26 from Rs 1,079.79 crore in FY25. Thermax is an energy and environment solutions company focused on supporting the energy transition. Its portfolio spans clean air, clean energy, clean water and chemical solutions. The company operates 16 manufacturing facilities across India, Europe and Southeast Asia and has more than 45 Indian and international subsidiaries. Powered by Capital Market - Live
Thermax announced that the Board of Directors of the Company at its meeting held on 7 May 2026, inter alia, have recommended the special dividend of Rs 6 per equity Share (i.e. 300%) , subject to the approval of the shareholders.
Thermax announced that the Board of Directors of the Company at its meeting held on 7 May 2026, inter alia, have recommended the final dividend of Rs 14 per equity Share (i.e. 700%) , subject to the approval of the shareholders.
Thermax Ltd rose 6.2% today to trade at Rs 4441.85. The BSE Capital Goods index is up 0.71% to quote at 80892.99. The index is up 16.49 % over last one month. Among the other constituents of the index, Siemens Energy India Ltd increased 2.88% and Timken India Ltd added 1.78% on the day. The BSE Capital Goods index went up 30.85 % over last one year compared to the 3.58% fall in benchmark SENSEX. Thermax Ltd has added 34.55% over last one month compared to 16.49% gain in BSE Capital Goods index and 0.13% drop in the SENSEX. On the BSE, 8379 shares were traded in the counter so far compared with average daily volumes of 29777 shares in the past one month. The stock hit a record high of Rs 4444.9 on 08 May 2026. The stock hit a 52-week low of Rs 2744.2 on 08 Dec 2025.Powered by Capital Market - Live
Net profit of Thermax rose 18.74% to Rs 244.28 crore in the quarter ended March 2026 as against Rs 205.73 crore during the previous quarter ended March 2025. Sales rose 12.53% to Rs 3428.04 crore in the quarter ended March 2026 as against Rs 3046.40 crore during the previous quarter ended March 2025. For the full year,net profit rose 13.56% to Rs 720.50 crore in the year ended March 2026 as against Rs 634.47 crore during the previous year ended March 2025. Sales rose 3.13% to Rs 10694.15 crore in the year ended March 2026 as against Rs 10369.26 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales3428.043046.40 13 10694.1510369.26 3 OPM %10.929.84 -9.598.75 - PBDT385.68345.98 11 1154.371042.98 11 PBT331.67300.64 10 946.73884.47 7 NP244.28205.73 19 720.50634.47 14 Powered by Capital Market - Live
Thermax has fixed 03 July 2026 as record date for payment of final dividend of Rs 14 per equity share and special dividend of Rs 5 per equity share on the company's 60th anniversary milestone for FY 2026.
The board of Thermax at its meeting held on 07 May 2026 has approved the appointment of Kavita Singh as the Chief Human Resources Officer and Senior Management Personnel of the Company with effect from 25 May 2026.
Thermax will hold a meeting of the Board of Directors of the Company on 7 May 2026.
Thermax Ltd gained for a fifth straight session today. The stock is quoting at Rs 4067.4, up 5.08% on the day as on 12:39 IST on the NSE. The benchmark NIFTY is up around 1.64% on the day, quoting at 24232.7. The Sensex is at 78098.95, up 1.63%. Thermax Ltd has risen around 24.8% in last one month. Meanwhile, Nifty Energy index of which Thermax Ltd is a constituent, has risen around 6.47% in last one month and is currently quoting at 37195.05, up 2.14% on the day. The volume in the stock stood at 2.7 lakh shares today, compared to the daily average of 2.81 lakh shares in last one month.The PE of the stock is 78.36 based on TTM earnings ending December 25.
Over the last 5 years, revenue has grown at a yearly rate of 12.78%, vs industry avg of 13.98%
Over the last 5 years, market share decreased from 9.27% to 7.63%
Over the last 5 years, net income has grown at a yearly rate of 24.46%, vs industry avg of 24.05%