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.

Are Thermax latest results good or bad?

Thermax's latest Q2 FY26 results are concerning, showing a 39.27% decline in net profit to ₹119.66 crores and a 5.42% drop in revenue to ₹2,473.90 crores. The operating margin has fallen to 6.95%, indicating significant operational challenges and rising costs.

Thermax's latest results for Q2 FY26 indicate a challenging performance. The company reported a net profit of ₹119.66 crores, which represents a significant decline of 39.27% year-on-year. Revenue also fell by 5.42% to ₹2,473.90 crores compared to the same quarter last year. <BR><BR>The operating margin has dropped to 6.95%, marking the lowest level in recent history, down from 10.63% a year ago. This decline in margins reflects severe pressure on operational efficiency, as costs have risen while revenues have contracted. Additionally, the profit after tax (PAT) margin has compressed to 4.83%, down from 7.57% in the previous year.<BR><BR>Overall, the results suggest that Thermax is facing significant operational challenges, with deteriorating profitability metrics and rising costs impacting its financial health. The performance is concerning, especially considering the company had experienced robust growth in the previous fiscal 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.

Which are the latest news on Thermax?

Should I buy, sell or hold Thermax Ltd.?

Why is Thermax Ltd. falling/rising?

As of 02-Feb, Thermax Ltd. is experiencing a decline in its stock price, currently at Rs 2,834.45, reflecting a decrease of 1.81%. The stock has underperformed against benchmarks and has shown negative financial results, contributing to a bearish outlook.

As of 02-Feb, Thermax Ltd. is experiencing a decline in its stock price, currently at Rs 2,834.45, which reflects a decrease of Rs 52.25 or 1.81%. This downward trend is supported by several factors outlined in the data. <BR><BR>Over the past week, the stock has fallen by 2.94%, while the benchmark Sensex has seen a slight increase of 0.16%. In the past month, Thermax's stock has decreased by 6.27%, compared to a smaller decline of 4.78% in the Sensex. Year-to-date, the stock is down 6.06%, again underperforming the Sensex, which has declined only 4.17%. The one-year performance shows a significant drop of 26.79% for Thermax, contrasting sharply with the Sensex's gain of 5.37%.<BR><BR>Today's performance indicates that the stock is close to its 52-week low, being only 3.18% above the low of Rs 2,744.2. It has underperformed its sector by 1.58% today and has seen a trend reversal after two days of consecutive gains. The stock touched an intraday low of Rs 2,811, marking a decline of 2.62%. Additionally, it is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a bearish trend.<BR><BR>Despite some positive factors, such as a low debt-to-equity ratio and healthy long-term growth in operating profit, the company has reported negative results recently. The profit before tax (PBT) has fallen by 57.25%, and the profit after tax (PAT) has decreased by 39.3%. Furthermore, the stock's return on equity (ROE) is at 11.8%, which, combined with a price-to-book value of 6.7, suggests an expensive valuation compared to its peers. The stock's performance over the last year, with a return of -26.79%, and the decline in profits by 7.9% further contribute to the negative sentiment surrounding Thermax Ltd.<BR><BR>In summary, the combination of poor recent financial results, underperformance relative to benchmarks, and a bearish technical outlook are key reasons for the decline in Thermax Ltd.'s stock price.