Thermax

Has Thermax declared dividend?

Yes, Thermax Ltd. has declared a 600% dividend, amounting to ₹12 per share, with an ex-date of July 5, 2024. While recent total returns have been negative, longer-term performance shows significant growth potential.

Thermax Ltd. has declared a 600% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 600%<BR>- Amount per share: 12<BR>- Ex-date: 05 Jul 24<BR><BR>Dividend Yield: 0.34%.<BR><BR>Total Returns by Period:<BR>In the last 6 months, the price return was -24.09%, the dividend return was 0%, resulting in a total return of -24.09%.<BR><BR>Over the past year, the price return was -32.66%, with a dividend return of 0.23%, leading to a total return of -32.43%.<BR><BR>In the 2-year period, the price return was 53.45%, the dividend return was 0.92%, culminating in a total return of 54.37%.<BR><BR>For the 3-year period, the price return was 76.66%, the dividend return was 1.56%, resulting in a total return of 78.22%.<BR><BR>In the last 4 years, the price return was 135.87%, with a dividend return of 2.57%, leading to a total return of 138.44%.<BR><BR>Over the 5-year period, the price return was 374.0%, the dividend return was 5.04%, resulting in a total return of 379.04%.<BR><BR>Overall, Thermax Ltd. has declared a significant dividend, but the recent total returns over shorter periods have been negative, indicating volatility in the stock price. However, the longer-term returns show substantial growth, suggesting potential for recovery and value over time.

Who are the peers of the Thermax?

Thermax's peers include A B B, Siemens, CG Power & Ind, Suzlon Energy, BHEL, Inox Wind, Triveni Turbine, Schneider Electric, and T R I L. In terms of management risk, growth, and capital structure, Thermax is on par with A B B and Schneider Electric, but has the lowest 1-year return among its peers at -39.78%.

Peers: The peers of Thermax are A B B, Siemens, CG Power & Ind, Suzlon Energy, BHEL, Inox Wind, Triveni Turbine, Schneider Elect., T R I L.<BR><BR>Quality Snapshot: Excellent management risk is observed at CG Power & Ind and Triveni Turbine, while Good management risk is found at A B B, Siemens, Thermax, and Schneider Elect. Average management risk is present at Suzlon Energy, BHEL, and T R I L, while Below Average management risk is seen at Inox Wind. Growth is Excellent for Suzlon Energy, BHEL, and Inox Wind, while Good growth is noted at A B B, Thermax, CG Power & Ind, and Schneider Elect. Average growth is found at Triveni Turbine, and the rest have Below Average growth. Capital Structure is Excellent for A B B, Thermax, and Triveni Turbine, Good for CG Power & Ind and BHEL, while Below Average is noted at Inox Wind and Schneider Elect, and the rest have Average capital structure.<BR><BR>Return Snapshot: The peer with the highest 1-year return is T R I L at 44.70%, while Thermax has the lowest at -39.78%. Thermax's 1-year return is significantly lower than that of T R I L. Additionally, the six-month return is negative for A B B, Siemens, Thermax, Inox Wind, and Triveni Turbine.

Who are in the management team of Thermax?

As of March 2022, the management team of Thermax includes Meher P Pudumjee (Chairperson), Ashish Bhandari (Managing Director & CEO), and several independent directors, overseeing the company's strategic direction and operations.

As of March 2022, the management team of Thermax includes the following individuals:<BR><BR>1. Meher P Pudumjee - Chairperson<BR>2. Pheroz Pudumjee - Director<BR>3. Jairam Varadaraj - Independent Director<BR>4. Nawshir Mirza - Independent Director<BR>5. Harsh Mariwala - Independent Director<BR>6. S B Ravi Pandit - Independent Director<BR>7. Rajani Kesari - Independent Director<BR>8. Ashish Bhandari - Managing Director & CEO<BR>9. Ravi Gopinath - Independent Director<BR>10. Janhavi Khele - Company Secretary & Compliance Officer<BR><BR>This team is responsible for overseeing the company's strategic direction and operations.

What does Thermax do?

Thermax Ltd. is a large-cap company in the Heavy Electrical Equipment industry, specializing in integrated solutions for heating, cooling, power generation, water treatment, and air pollution control. As of March 2025, it reported net sales of ₹30,849 Cr and a net profit of ₹2,057 Cr, with a market cap of ₹41,954 Cr.

Overview: <BR>Thermax Ltd. is a large-cap company in the Heavy Electrical Equipment industry, providing integrated solutions in heating, cooling, power generation, water treatment and recycling, air pollution control, and chemicals, with a focus on clean air, clean energy, and clean water.<BR><BR>History: <BR>Incorporated in 1966 as Wanson India by A.S. Bhathena, the company has evolved into Thermax Group. The latest quarterly results reported net sales and net profit for the period ending March 2025.<BR><BR>Financial Snapshot: <BR>Net Sales: 30,849 Cr (Quarterly Results - Mar 2025) <BR>Net Profit: 2,057 Cr (Quarterly Results - Mar 2025) <BR>Market Cap: INR 41,954 Cr (Large Cap) <BR><BR>Key Metrics: <BR>P/E: 68.00 <BR>Industry P/E: 38 <BR>Dividend Yield: 0.40% <BR>Debt Equity: -0.20 <BR>Return on Equity: 12.85% <BR>Price to Book: 8.39 <BR><BR>Contact Details: <BR>Address: D-13 MIDC Industrial Area, R D Aga Road Chinchwad Pune Maharashtra : 411019 <BR>Tel: 91-20-66122100/66155000 <BR>Email: info@thermaxindia.com <BR>Website: http://www.thermaxindia.com

Who are the top shareholders of the Thermax?

The top shareholders of Thermax include Rda Holdings Private Ltd with 53.99%, mutual funds at 11.26%, foreign institutional investors at 15.86%, and SBI Energy Opportunities Fund as the largest public shareholder with 6.03%. Individual investors hold 3.71% of the shares.

The top shareholders of Thermax include the promoters, with Rda Holdings Private Ltd holding the largest stake at 53.99%. Additionally, mutual funds collectively hold 11.26% of the shares through 24 schemes, while foreign institutional investors (FIIs) own 15.86% through 478 different entities. The highest public shareholder is SBI Energy Opportunities Fund, which holds 6.03%. Individual investors account for 3.71% of the total shareholding.

How big is Thermax?

As of 24th July, Thermax Ltd. has a market capitalization of 46,311.00 Cr and reported net sales of 10,388.69 Cr and net profit of 634.47 Cr over the latest four quarters.

As of 24th July, <BR><BR>Market Cap: Thermax Ltd. has a market capitalization of 46,311.00 Cr, categorizing it as a Large Cap company.<BR><BR>Recent Quarterly Performance: The sum of Net Sales for the latest 4 quarters is 10,388.69 Cr, while the sum of Net Profit for the same period is 634.47 Cr.<BR><BR>Balance Sheet Snapshot: The reporting period is March 2025. Shareholder's Funds stand at 4,936.89 Cr, and Total Assets amount to 11,883.64 Cr.

Is Thermax overvalued or undervalued?

As of August 6, 2025, Thermax is considered overvalued with a valuation grade of "expensive," reflected in its high PE ratio of 61.26 and underperformance of -15.17% year-to-date compared to the Sensex's 3.08%.

As of 6 August 2025, Thermax's valuation grade has moved from very expensive to expensive, indicating a slight improvement in perceived value but still suggesting a high valuation. The company is currently considered overvalued. Key ratios include a PE ratio of 61.26, an EV to EBITDA of 40.44, and a PEG ratio of 5.66, all of which are significantly higher than many of its peers.<BR><BR>In comparison, BEML Ltd has a PE ratio of 56.19 and an EV to EBITDA of 32.95, while Action Construction Equipment shows a PE of 31.5 and an EV to EBITDA of 24.67, highlighting Thermax's premium valuation relative to these competitors. Additionally, the company's recent stock performance has underperformed the Sensex, with a year-to-date return of -15.17% compared to the Sensex's 3.08%, further reinforcing the notion that Thermax may be overvalued in the current market context.

When is the next results date for Thermax?

The next results date for Thermax is 11 November 2025.

The next results date for Thermax is scheduled for 11 November 2025.

Is Thermax technically bullish or bearish?

As of November 7, 2025, Thermax's technical trend is bearish with moderate strength, driven by bearish signals from moving averages and Bollinger Bands, despite a mildly bullish weekly MACD, and the stock has underperformed compared to the Sensex over multiple time frames.

As of 7 November 2025, the technical trend has changed from mildly bearish to bearish. The current technical stance for Thermax is bearish with moderate strength. Key indicators driving this stance include the bearish signals from the moving averages and Bollinger Bands on both daily and monthly time frames, alongside the bearish KST readings. Although the weekly MACD shows mildly bullish, it is overshadowed by the overall bearish sentiment in the monthly indicators. The stock has also underperformed significantly compared to the Sensex over various time frames, particularly year-to-date and over the past year.

How has been the historical performance of Thermax?

Thermax has shown consistent growth in net sales, increasing from INR 4,791.25 crore in March 2021 to INR 10,369.26 crore in March 2025, with operating profit rising from INR 462.93 crore to INR 1,160.00 crore. However, profit after tax slightly declined from INR 644.01 crore in March 2024 to INR 626.94 crore in March 2025.

Answer:<BR>The historical performance of Thermax shows a consistent growth trend in net sales and profits over the years leading up to March 2025.<BR><BR>Breakdown:<BR>Thermax's net sales have increased significantly from INR 4,791.25 crore in March 2021 to INR 10,369.26 crore in March 2025, reflecting a strong upward trajectory. The total operating income followed a similar trend, rising from INR 4,791.25 crore in March 2021 to INR 10,369.26 crore in March 2025. The operating profit (PBDIT) also saw a notable increase, climbing from INR 462.93 crore in March 2021 to INR 1,160.00 crore in March 2025. However, profit after tax showed a slight decline from INR 644.01 crore in March 2024 to INR 626.94 crore in March 2025. The total assets of the company grew from INR 5,800.53 crore in March 2020 to INR 11,883.64 crore in March 2025, while total liabilities increased from INR 5,800.53 crore to INR 11,883.64 crore during the same period. Cash flow from operating activities improved significantly, reaching INR 1,042.00 crore in March 2025, compared to INR 247.00 crore in March 2024. Overall, Thermax has demonstrated robust growth in sales and operational efficiency, although profit margins have experienced some fluctuations.

Are Thermax Ltd. latest results good or bad?

Thermax Ltd.'s latest Q3 FY26 results show a strong recovery with a net profit increase of 70.63% quarter-on-quarter and revenue growth of 6.50%. However, modest year-on-year revenue growth and concerns about margin sustainability suggest a cautious outlook.

Thermax Ltd.'s latest results for Q3 FY26 can be characterized as a strong recovery, particularly when compared to the previous quarter. The company reported a net profit of ₹204.18 crores, which is a significant increase of 70.63% quarter-on-quarter and 76.17% year-on-year. Revenue also grew by 6.50% sequentially to ₹2,634.68 crores, and the operating margin improved to 9.67%, reflecting better operational efficiency.<BR><BR>However, while the quarterly performance shows positive trends, the year-on-year revenue growth of just 4.19% suggests that demand momentum in core segments remains modest. Additionally, the stock's muted market reaction indicates investor concerns regarding the sustainability of these margins and the company's high valuation, trading at a P/E ratio of 56.89 times.<BR><BR>In summary, while the latest results demonstrate a strong sequential recovery and improved profitability, there are underlying concerns about revenue growth and margin consistency that could temper the overall assessment.

Should I buy, sell or hold Thermax Ltd.?

Why is Thermax Ltd. falling/rising?

As of 06-Feb, Thermax Ltd. is experiencing a stock price decline to 2,875.05, reflecting a drop of -1.02%. This decline is attributed to poor recent financial performance, decreased investor interest, and trading below key moving averages.

As of 06-Feb, Thermax Ltd. is experiencing a decline in its stock price, currently at 2,875.05, which reflects a change of -29.7 or -1.02%. This downward movement is consistent with the stock's performance over the past week, where it has fallen by -0.24%, and it has also seen a more significant drop of -6.77% over the past month. The stock has been losing value for the last three consecutive days, resulting in a total decline of -2.49% during this period.<BR><BR>Several factors contribute to this decline. The stock is trading below its moving averages across various time frames, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a bearish trend. Additionally, investor participation has decreased significantly, with delivery volume on 05 February dropping by -65.66% compared to the 5-day average, suggesting a lack of interest from investors.<BR><BR>Furthermore, the company's recent financial performance has not been favorable. The results for December 25 were flat, with a return on capital employed (ROCE) at its lowest of 14.05% and a debt-to-equity ratio at its highest of 0.36 times. Although the company has shown healthy long-term growth with an operating profit growth rate of 35.87%, the stock's return over the past year has been -13.45%, which is significantly lower than the performance of the broader market, as indicated by the Sensex's +7.07% return over the same period.<BR><BR>Overall, the combination of poor recent performance, declining investor interest, and trading below key moving averages are contributing to the falling stock price of Thermax Ltd.

Which are the latest news on Thermax?