Thermax Ltd Stock Price Today (NSE: THERMAX)
Fundamental Score
Thermax Ltd Share Price — Live NSE/BSE Price, Fundamentals & Analysis
Thermax Ltd share price today is ₹4306.00, down 1.64% on NSE/BSE as of 31 July 2026. Thermax Ltd (THERMAX) is a Large-cap company in the Heavy Electrical Equipment sector with a market capitalisation of ₹54.12K (Cr). The 52-week high for THERMAX share price is ₹5257.19 and the 52-week low is ₹2742.70. At a P/E ratio of 97.82x, THERMAX is currently trading above its industry average P/E of 38.29x. The company has a Return on Equity (ROE) of 10.55% and a debt-to-equity ratio of 0.42.
Thermax Ltd Share Price Chart — NSE/BSE Historical Performance
Thermax Ltd share price chart: -15.58% return over the past month. 52-week high ₹5257.19, 52-week low ₹2742.70.
Thermax Ltd — Last 10 Trading Days
| Date | Open | High | Low | Close | Volume |
|---|---|---|---|---|---|
| ₹3892.00 | ₹4489.00 | ₹3566.50 | ₹4306.00 | 37.45L (Cr) | |
| ₹4420.00 | ₹4444.50 | ₹4267.00 | ₹4378.00 | 1.34L (Cr) | |
| ₹4460.00 | ₹4531.50 | ₹4384.00 | ₹4416.50 | 1.09L (Cr) | |
| ₹4560.00 | ₹4571.00 | ₹4394.00 | ₹4454.50 | 1.52L (Cr) | |
| ₹4749.00 | ₹4880.00 | ₹4710.00 | ₹4841.00 | 3.26L (Cr) | |
| ₹4632.00 | ₹4734.00 | ₹4611.00 | ₹4710.50 | 1.52L (Cr) | |
| ₹4572.50 | ₹4670.00 | ₹4545.00 | ₹4662.00 | 2.36L (Cr) | |
| ₹4575.00 | ₹4656.00 | ₹4473.00 | ₹4581.00 | 1.85L (Cr) | |
| ₹4638.50 | ₹4653.00 | ₹4358.50 | ₹4379.50 | 4.50L (Cr) | |
| ₹4775.00 | ₹4796.00 | ₹4651.00 | ₹4663.50 | 1.39L (Cr) |
Thermax Ltd — Last 12 Months Price History
| Month | Open | High | Low | Close | Change |
|---|---|---|---|---|---|
| ₹5174.71 | ₹5198.12 | ₹3566.50 | ₹4306.00 | -16.79% | |
| ₹4982.70 | ₹5257.19 | ₹4515.59 | ₹5139.35 | +3.14% | |
| ₹4077.60 | ₹5075.00 | ₹4056.70 | ₹4982.70 | +22.20% | |
| ₹3299.00 | ₹4305.00 | ₹3192.70 | ₹4077.60 | +23.60% | |
| ₹3012.00 | ₹3347.20 | ₹2966.80 | ₹3260.70 | +8.26% | |
| ₹2902.00 | ₹3246.60 | ₹2749.80 | ₹3117.80 | +7.44% | |
| ₹3023.10 | ₹3120.00 | ₹2751.10 | ₹2878.00 | -4.80% | |
| ₹2949.30 | ₹3041.00 | ₹2742.70 | ₹3022.60 | +2.49% | |
| ₹3226.90 | ₹3316.00 | ₹2840.00 | ₹2920.10 | -9.51% | |
| ₹3170.30 | ₹3353.00 | ₹3100.00 | ₹3218.80 | +1.53% | |
| ₹3223.10 | ₹3490.00 | ₹3121.00 | ₹3170.30 | -1.64% | |
| ₹3790.00 | ₹3825.50 | ₹3137.00 | ₹3207.60 | -15.37% |
Returns & Performance
Return on Equity (ROE)
Profit generated per ₹1 of shareholder equity
Return on Capital (ROCE)
Returns generated on total capital deployed
Oper. Profit Margin (5Y Avg)
Average operating profit margin over 5 years
Dividend Yield
Annual dividend as % of current share price
Thermax Ltd Valuation Check
Price to Earnings (P/E)
Share price ÷ earnings per share. Lower = cheaper
Industry Avg P/E
Average P/E of all peers in this sector
Market Capitalisation
Total market value of all outstanding shares
Growth Engine
Profit Growth (Quarterly YoY)
Net profit growth vs same quarter last year
Revenue Growth (Quarterly YoY)
Revenue growth vs same quarter last year
Revenue Growth (5-Year CAGR)
Compounded annual revenue growth over 5 years
EPS Growth (5-Year CAGR)
Earnings per share growth over 5 years
Net Profit Growth (5-Year CAGR)
Compounded annual net profit growth over 5 years
Balance Sheet Health
Debt to Equity Ratio
Total debt ÷ equity. Below 0.5 = financially healthy
Interest Coverage Ratio
EBIT ÷ interest expense. Above 2.5 = can pay interest comfortably
Free Cash Flow (5-Year Total)
Cash left after capex over 5 years. Positive = self-funded growth
Labels (e.g., "Excellent", "Good") are peer-based vs industry/sector averages — data-only, not advice
Thermax Ltd Fundamental Analysis & Valuation Benchmarking
Educational evaluation of THERMAX across key market metrics for learning purposes.
Positive Indicators
7 factors identified
Consistent Growth Track Record (17.59% CAGR)
Observation: Strong 5-year sales compound annual growth rate.
Analysis: Consistent sales CAGR >12% demonstrates sustainable growth model.
Excellent EPS Growth (17.66% CAGR)
Observation: Outstanding 5-year earnings per share compound growth.
Analysis: EPS CAGR >15% indicates strong wealth creation potential.
Strong Profit Growth Track Record (17.66% CAGR)
Observation: Consistent 5-year profit compound annual growth rate.
Analysis: Profit CAGR >15% demonstrates scalable business model.
Strong Interest Coverage (7.32x)
Observation: Earnings comfortably cover interest obligations.
Analysis: Interest coverage >5x indicates low financial distress risk.
Balanced Promoter Holding (61.98%)
Observation: Optimal balance between promoter control and public float.
Analysis: Promoter holding in 50-75% range provides management alignment.
Strong Institutional Confidence (FII+DII: 26.74%)
Observation: Significant professional investor participation.
Analysis: High institutional holding often signals thorough due diligence.
Zero Share Pledging Risk
Observation: No promoter shares pledged as collateral.
Analysis: Absence of share pledging eliminates potential forced-selling pressure.
Risk Factors
2 factors identified
Premium Valuation Risk (P/E: 97.82x)
Observation: High valuation multiples may limit upside potential.
Analysis: Elevated P/E ratios require strong growth execution to justify current valuations.
Negative Free Cash Flow (₹-641.37 Cr over 5Y)
Observation: Cash outflows exceed inflows.
Analysis: Negative FCF requires analysis of capital expenditure cycle.
Thermax Ltd vs Heavy Electrical Equipment Peers
Peer Comparison - Heavy Electrical Equipment
Compare Thermax Ltd with 10 other companies in the same sector
| Company Info | Fundamental | Valuation | Profitability | Financial Health | Growth | Dividend | ||||
|---|---|---|---|---|---|---|---|---|---|---|
Company Company name | Score Bull Run comprehensive fundamental score based on 20+ metrics | Price Current trading price of the stock | Market Cap Total value of all shares in the market | P/E Price per share divided by earnings per share | ROE Net income divided by shareholder equity | ROCE Earnings before interest and tax divided by capital employed | Debt/Eq Total debt divided by total equity | Profit 5Y Average annual profit growth over 5 years | Sales 5Y Average annual sales growth over 5 years | Dividend Annual dividend per share divided by price per share |
Thermax LtdThermax Ltd...Selected✓ THERMAX • 500411 | 50/100 | ₹4306.00₹4306 | ₹54121.84₹54121.84 | 97.82Average 97.8 Average | 10.55%Average 10.55% Average | 13.94%Average 13.94% Average | 0.42Excellent 0.4 Excellent | 17.66%Excellent 17.66% Excellent | 17.59%Excellent 17.59% Excellent | 0.31% |
ABB India LtdABB India Ltd... ABB • 500002 | 64.2/100 | ₹7284.50₹7285 | ₹152553.18₹152553.18 | 100.15Average 100.2 Average | 22.39%Excellent 22.39% Excellent | 29.93%Excellent 29.93% Excellent | 0.01Excellent 0.0 Excellent | 57.13%Excellent 57.13% Excellent | 17.80%Excellent 17.80% Excellent | 0.55% |
Hitachi Energy India LtdHitachi Energy ... POWERINDIA • 543187 | 72.8/100 | ₹32175.00₹32175 | ₹151500.72₹151500.72 | 147.39Average 147.4 Average | 21.89%Excellent 21.89% Excellent | 29.02%Excellent 29.02% Excellent | 0.02Excellent 0.0 Excellent | 53.66%Excellent 53.66% Excellent | 18.96%Excellent 18.96% Excellent | 0.02% |
CG Power and Industrial Solutions LimitedCG Power and In... CGPOWER • 500093 | 76.1/100 | ₹863.40₹863 | ₹146315.18₹146315.18 | 120.95Average 121.0 Average | 20.48%Excellent 20.48% Excellent | 26.71%Excellent 26.71% Excellent | 0.01Excellent 0.0 Excellent | 69.51%Excellent 69.51% Excellent | 33.18%Excellent 33.18% Excellent | 0.14% |
Bharat Heavy Electricals LtdBharat Heavy El... BHEL • 500103 | 63.1/100 | ₹407.00₹407 | ₹145514.83₹145514.83 | 91.87Average 91.9 Average | 6.23%Poor 6.23% Poor | 9.14%Poor 9.14% Poor | 0.31Excellent 0.3 Excellent | 20.93%Excellent 20.93% Excellent | 14.31%Good 14.31% Good | 0.33% |
Siemens LtdSiemens Ltd... SIEMENS • 500550 | 68.4/100 | ₹3760.00₹3760 | ₹127184.63₹127184.63 | 45.34Average 45.3 Average | 19.22%Good 19.22% Good | 21.44%Excellent 21.44% Excellent | 0.02Excellent 0.0 Excellent | 29.56%Excellent 29.56% Excellent | 20.09%Excellent 20.09% Excellent | 0.00% |
Siemens Energy India LtdSiemens Energy ... ENRIN • 544390 | 51.3/100 | ₹3230.80₹3231 | ₹124569.80₹124569.80 | 92.39Average 92.4 Average | 50.47%Excellent 50.47% Excellent | 67.75%Excellent 67.75% Excellent | 0.04Excellent 0.0 Excellent | — — | — — | 0.11% |
GE Vernova T&D India LtdGE Vernova T&D ... GVT&D • 522275 | 72/100 | ₹4323.30₹4323 | ₹120249.98₹120249.98 | 94.00Average 94.0 Average | 57.32%Excellent 57.32% Excellent | 76.43%Excellent 76.43% Excellent | 0.01Excellent 0.0 Excellent | 85.76%Excellent 85.76% Excellent | 12.45%Good 12.45% Good | 0.21% |
Suzlon Energy LtdSuzlon Energy L... SUZLON • 532667 | 64.4/100 | ₹48.01₹48 | ₹71461.81₹71461.81 | 22.59Average 22.6 Average | 40.64%Excellent 40.64% Excellent | 35.07%Excellent 35.07% Excellent | 0.06Excellent 0.1 Excellent | 45.66%Excellent 45.66% Excellent | 37.98%Excellent 37.98% Excellent | 0.00% |
Schneider Electric Infrastructure LimitedSchneider Elect... SCHNEIDER • 534139 | 50.5/100 | ₹1355.30₹1355 | ₹32525.99₹32525.99 | 145.94Average 145.9 Average | 35.61%Excellent 35.61% Excellent | 29.63%Excellent 29.63% Excellent | 0.71Good 0.7 Good | 80.08%Excellent 80.08% Excellent | 17.38%Excellent 17.38% Excellent | 0.00% |
Triveni Turbine LtdTriveni Turbine... TRITURBINE • 533655 | 70.3/100 | ₹601.70₹602 | ₹20321.44₹20321.44 | 56.25Average 56.3 Average | 27.14%Excellent 27.14% Excellent | 35.86%Excellent 35.86% Excellent | 0.02Excellent 0.0 Excellent | 26.92%Excellent 26.92% Excellent | 25.43%Excellent 25.43% Excellent | 0.63% |
Top Heavy Electrical Equipment Stocks
View all →By Bull Run Score
By Return on Equity
By Market Cap
- ABB India Ltd share price152553.18 Cr
- Hitachi Energy India Ltd share price151500.72 Cr
- CG Power and Industrial Solutions Limited share price146315.18 Cr
- Bharat Heavy Electricals Ltd share price145514.83 Cr
- Siemens Ltd share price127184.63 Cr
Thermax Ltd PE Ratio History
Historical price-to-earnings ratio for THERMAX — last 5 years
| Year | EPS (₹) | Price (₹) | P/E Ratio |
|---|---|---|---|
| FY 2025 | ₹56.31 | ₹3022.60 | 53.7x |
| FY 2024 | ₹57.28 | ₹4039.75 | 70.5x |
| FY 2023 | ₹39.97 | ₹3081.50 | 77.1x |
| FY 2022 | ₹27.73 | ₹1968.20 | 71x |
P/E = year-end price ÷ diluted EPS from annual filings. Source: NSE/BSE via Bull Run.
Thermax Ltd Dividend History
Annual cash dividends paid by THERMAX — dividend yield 0.31%
| Financial Year | Dividends Paid (₹ Cr) |
|---|---|
| FY 2025 | ₹135.23 Cr |
| FY 2024 | ₹112.75 Cr |
| FY 2023 | ₹102.13 Cr |
| FY 2022 | ₹78.83 Cr |
Cash dividends from annual cash flow statements. Past dividends do not guarantee future payments. Not investment advice.
Thermax Ltd Quarterly Performance
Latest quarterly metrics for THERMAX — revenue growth and profit growth vs same quarter last year
Revenue Growth (YoY)
12.53%
Latest quarter vs same quarter previous year
Net Profit Growth (YoY)
17.86%
Latest quarter net profit vs same quarter previous year
5-Year Revenue CAGR
17.59%
Compounded annual revenue growth over 5 years
5-Year Profit CAGR
17.66%
Compounded annual net profit growth over 5 years
Thermax Ltd Technical Indicators
SMA 50, SMA 200, RSI and volume signals for THERMAX — calculated from daily price history
Momentum is balanced — neither overbought nor oversold.
Technical indicators are for educational purposes only. Not investment advice.
Thermax Ltd Financial Statements
Annual income statement, balance sheet and cash flow for Thermax Ltd (THERMAX) — sourced from NSE/BSE filings.
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Fetching financial data for Thermax Ltd
About THERMAX (Thermax Ltd)
Thermax Ltd is a pioneering force in heavy electrical equipment, committed to sustainable solutions that power industries worldwide. The company stands as a formidable entity, prov...iding an extensive portfolio encompassing boilers and heating equipment engineered for peak efficiency, alongside absorption chillers and heat pumps designed to minimize environmental impact. Thermax's dedication to environmental stewardship is evident in its advanced air pollution control systems, meticulously crafted to ensure cleaner air quality. They further demonstrate expertise in water and waste recycling technologies, actively assisting industries in minimizing their ecological footprint. Through innovative engineering, procurement, and construction, Thermax consistently delivers integrated solutions tailored to meet the unique demands of diverse sectors. The heart of Thermax lies in its multifaceted approach, extending beyond manufacturing to encompass installation, comprehensive sales, and unwavering customer service. The company distinguishes itself by forging collaborative partnerships with clients, understanding their specific needs and challenges to deliver customized solutions that maximize operational effectiveness. With an emphasis on technological innovation, Thermax invests heavily in research and development, constantly pushing the boundaries of what is possible in energy-efficient and environmentally responsible solutions. This dedication solidifies its position as a trusted partner in driving sustainable industrial growth and creating a better future for generations to come. Furthermore, Thermax's global presence underscores its commitment to serving diverse markets. Operating with an international perspective, the company adapts its offerings to address the specific environmental and regulatory landscapes of each region. This global approach allows Thermax to deploy its expertise and technologies effectively, fostering partnerships that contribute to a more sustainable world. By prioritizing environmental responsibility and customer satisfaction, Thermax continues to be a beacon of innovation in the heavy electrical equipment sector, paving the way for a cleaner, more efficient future.
Company Details
Key Leadership
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THERMAX Share Price: Frequently Asked Questions
What is the current share price of Thermax Ltd?
Thermax Ltd (THERMAX) trades at ₹4306.00 on NSE and BSE. Market cap ₹54.12K (Cr). Educational data only.
What is the P/E ratio of Thermax Ltd?
Thermax Ltd has a P/E of 97.82x vs industry average 38.29x.
What is the Bull Run score for Thermax Ltd?
Thermax Ltd has a Bull Run score of 50/100 based on 25+ financial parameters.
Does Thermax Ltd pay dividends?
Thermax Ltd has a dividend yield of 0.31%. Past dividends don't guarantee future payments.
What is the ROE of Thermax Ltd?
Thermax Ltd has ROE of 10.55%. Higher ROE indicates better use of shareholder equity.
What is the debt-to-equity ratio of Thermax Ltd?
Thermax Ltd has debt-to-equity of 0.42.
Is Thermax Ltd a good investment?
Bull Run gives Thermax Ltd a score of 50/100. This is not investment advice — consult a SEBI-registered advisor.