Thermax Ltd. (THERMAX) fundamentals
Thermax Ltd. is a listed company in Electrical Equipment, part of the Capital Goods sector, listed on the NSE as THERMAX (ISIN INE152A01029). This page carries its reported financials, balance sheet, cash flow, shareholding pattern and valuation ratios.
What Thermax Ltd. does
Thermax Limited is an India-based energy and environment solutions provider. The Company's segments include Industrial Products, Industrial Infra, Green Solutions and Chemical. Industrial Products segment includes air pollution control, cooling, heating, water and waste solutions, and specialized services. Industrial Infra segment includes boilers and fired heaters, projects and energy solutions, and specialized services. Green Solutions segment includes build-own-operate, energy management solutions, green hydrogen projects and renewable energy (solar/wind). Chemical segment includes construction chemicals, ion exchange resins, oil field chemicals and performance chemicals. Its Thermax EDGE Live is a digital solution that uses AI and machine learning to analyze data from all industrial equipment worldwide and help clients to optimize asset performance in terms of up time and efficiency. It serves various industries, including aviation, construction, biotechnology and chemicals.
Valuation and market data
| Last close | ₹3682.00 |
|---|---|
| Market capitalisation | ₹41,470 crore |
| Enterprise value | ₹42,716 crore |
| P/E (TTM) | 57.58 |
| Price to book | 7.43 |
| Price to sales (TTM) | 2.25 |
| Book value per share | ₹495.36 |
| Dividend yield | 54.32% |
| Sector | Capital Goods |
| Industry | Electrical Equipment |
| Listed since | Wed Aug 30 |
Annual results
| Period | Revenue | Profit before tax | Net profit | EPS |
|---|---|---|---|---|
| Mar 2026 | ₹6,803 crore | ₹795 crore | ₹649 crore | 54.46 |
| Mar 2025 | ₹6,447 crore | ₹713 crore | ₹572 crore | 48.02 |
| Mar 2024 | ₹6,015 crore | ₹580 crore | ₹437 crore | 36.71 |
| Mar 2023 | ₹5,278 crore | ₹431 crore | ₹329 crore | 27.63 |
Figures are as reported (standalone), in ₹ crore.
Shareholding pattern
As of Jun 2026:
| Promoters | 62.0% |
|---|---|
| Foreign institutions (FII) | 11.5% |
| Mutual funds | 12.9% |
| Other domestic institutions | 2.4% |
| Retail and others | 11.3% |
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Data is sourced from exchange filings and vendor feeds and is for research, not investment advice. Figures can be restated by the company after publication.