ScoreWhy is Thermax Ltd. ?
1
Negative results in Sep 25
- PBT LESS OI(Q) At Rs 88.26 cr has Fallen at -57.25%
- PAT(Q) At Rs 119.66 cr has Fallen at -39.3%
- ROCE(HY) Lowest at 14.05%
2
With ROE of 11.8, it has a Expensive valuation with a 6.8 Price to Book Value
- The stock is trading at a fair value compared to its peers' average historical valuations
- Over the past year, while the stock has generated a return of -39.24%, its profits have fallen by -7.9%
3
Below par performance in long term as well as near term
- Along with generating -39.24% returns in the last 1 year, the stock has also underperformed BSE500 in the last 3 years, 1 year and 3 months
Real-Time Research ReportHow much should you sell?
- All quantity irrespective of whether you are making profits or losses
(If sector exposure > 30%, please use optimiser tool to see which are the best stocks to hold in Heavy Electrical Equipment)
When to re-enter? - We will constantly monitor the company and review our call based on new data
Is Thermax for you?
High Risk, Low Return
Absolute
Risk Adjusted
Volatility
Thermax
-40.08%
-1.07
36.55%
Sensex
4.41%
0.45
11.83%
Quality
Management Risk
Growth
Capital StructureQuality key factors
Factor
Value
Sales Growth (5y)
17.63%
EBIT Growth (5y)
41.19%
EBIT to Interest (avg)
10.15
Debt to EBITDA (avg)
1.36
Net Debt to Equity (avg)
-0.14
Sales to Capital Employed (avg)
1.60
Tax Ratio
29.92%
Dividend Payout Ratio
24.86%
Pledged Shares
0
Institutional Holding
27.39%
ROCE (avg)
18.80%
ROE (avg)
11.85%
ValuationValuation Key Factors 
Factor
Value
P/E Ratio
58
Industry P/E
34
Price to Book Value
6.77
EV to EBIT
47.53
EV to EBITDA
37.83
EV to Capital Employed
7.73
EV to Sales
3.28
PEG Ratio
NA
Dividend Yield
0.49%
ROCE (Latest)
16.25%
ROE (Latest)
11.75%
Loading Valuation Snapshot...
TechnicalsTechnical key factors
Indicator
Weekly
Monthly
MACD
Bearish
Bearish
RSI
No Signal
No Signal
Bollinger Bands
Bearish
Bearish
Moving Averages
Bearish (Daily)
KST
Bearish
Bearish
Dow Theory
No Trend
No Trend
OBV
No Trend
No Trend
Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned 
Financial Trend4What is working for the Company
OPERATING CF(Y)
Highest at Rs 1,042.79 Cr
CASH AND CASH EQUIVALENTS(HY)
Highest at Rs 1,293.90 cr
DEBTORS TURNOVER RATIO(HY)
Highest at 4.70 times
-19What is not working for the Company
PBT LESS OI(Q)
At Rs 88.26 cr has Fallen at -57.25%
PAT(Q)
At Rs 119.66 cr has Fallen at -39.3%
ROCE(HY)
Lowest at 14.05%
DEBT-EQUITY RATIO(HY)
Highest at 0.36 times
OPERATING PROFIT TO INTEREST (Q)
Lowest at 5.35 times
NET SALES(Q)
At Rs 2,473.90 cr has Grown at -5.42%
PBDIT(Q)
Lowest at Rs 172.03 cr.
OPERATING PROFIT TO NET SALES (Q)
Lowest at 6.95%
NON-OPERATING INCOME(Q)
is 49.18 % of Profit Before Tax (PBT
Loading Valuation Snapshot...
Here's what is working for Thermax
Operating Cash Flow - Annually
Highest at Rs 1,042.79 Cr
in the last three yearsMOJO Watch
The company has generated higher cash revenues from business operations
Operating Cash Flows (Rs Cr)
Cash and Cash Equivalents - Half Yearly
Highest at Rs 1,293.90 cr
in the last six half yearly periodsMOJO Watch
Short Term liquidity is improving
Cash and Cash Equivalents
Debtors Turnover Ratio- Half Yearly
Highest at 4.70 times
in the last five half yearly periodsMOJO Watch
Company has been able to settle its Debtors faster
Debtors Turnover Ratio
Here's what is not working for Thermax
Profit Before Tax less Other Income (PBT) - Quarterly
At Rs 88.26 cr has Fallen at -57.25%
Year on Year (YoY)MOJO Watch
Near term PBT trend is very negative
PBT less Other Income (Rs Cr)
Profit After Tax (PAT) - Quarterly
At Rs 119.66 cr has Fallen at -39.3%
Year on Year (YoY)MOJO Watch
Near term PAT trend is very negative
PAT (Rs Cr)
Operating Profit to Interest - Quarterly
Lowest at 5.35 times
in the last five quartersMOJO Watch
The company's ability to manage interest payments is deteriorating
Operating Profit to Interest
Debt-Equity Ratio - Half Yearly
Highest at 0.36 times and Grown
each half year in the last five half yearly periodsMOJO Watch
The company is borrowing more to fund its operations; it's liquidity situation may be stressed
Debt-Equity Ratio
Net Sales - Quarterly
At Rs 2,473.90 cr has Grown at -5.42%
Year on Year (YoY)MOJO Watch
Near term sales trend is negative
Net Sales (Rs Cr)
Operating Profit (PBDIT) - Quarterly
Lowest at Rs 172.03 cr.
in the last five quartersMOJO Watch
Near term Operating Profit trend is negative
Operating Profit (Rs Cr)
Operating Profit Margin - Quarterly
Lowest at 6.95%
in the last five quartersMOJO Watch
Company's efficiency has deteriorated
Operating Profit to Sales
Profit Before Tax less Other Income (PBT) - Quarterly
Lowest at Rs 88.26 cr.
in the last five quartersMOJO Watch
Near term PBT trend is negative
PBT less Other Income (Rs Cr)
Non Operating Income - Quarterly
is 49.18 % of Profit Before Tax (PBT)
MOJO Watch
The company's income from non business activities is high; which is not a sustainable business model
Non Operating Income to PBT
Non Operating Income - Quarterly
Highest at Rs 85.41 cr
in the last five quartersMOJO Watch
Increased income from non business activities may not be sustainable
Non Operating Income
InfinHub Market Technologies FZ-LLC, Building-2, Unit 112, Dubai Internet City, Dubai, United Arab Emirates
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