Thermax Limited

THERMAX.NS · NSE

Price₹0.00+0.00 (+0.00%)

Price History

Volume & Moving Averages

Price50D200D

Analyst Price Target

₹0.00▲ 0.0% above current price

Range: ₹0.00 – ₹0.00 · 0 analysts

Based on Wall Street analyst estimates — not a Stockinder prediction.

About the company

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Key Metrics

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Recent Notable Coverage

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Growth

Health

Risk

Value

Quality

Ownership

Insider and institutional holdings, from Yahoo Finance — for Indian companies this roughly tracks promoter (insiders) and combined FII/DII (institutions) stakes, though not split out the same way a shareholding-pattern filing would.

Insiders73.7%

Institutions20.3%

Public / Other

Quarterly Resultsin ₹ Cr

	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Total money the company brought in from its core business during the quarter, before any costs are subtracted.	₹2,303.00 Cr	₹3,428.00 Cr	₹2,635.00 Cr	₹2,474.00 Cr	₹2,158.00 Cr	₹3,046.00 Cr	₹2,529.00 Cr	₹2,616.00 Cr	₹2,184.00 Cr	₹2,764.00 Cr	₹2,324.00 Cr	₹2,302.00 Cr
How much sales grew (or shrank) compared to the same quarter a year earlier — a cleaner read on momentum than comparing to the prior quarter, which can be skewed by seasonality.	+6.7%	+12.5%	+4.2%	-5.4%	-1.2%	+10.2%	+8.8%	+13.6%	–	–	–	–
Total operating costs for the quarter — everything subtracted from sales to arrive at operating profit.	₹2,234.00 Cr	₹3,054.00 Cr	₹2,380.00 Cr	₹2,302.00 Cr	₹1,933.00 Cr	₹2,747.00 Cr	₹2,340.00 Cr	₹2,338.00 Cr	₹2,044.00 Cr	₹2,491.00 Cr	₹2,137.00 Cr	₹2,098.00 Cr
Sales minus expenses — profit from core operations before depreciation, interest, and tax.	₹69.00 Cr	₹374.00 Cr	₹255.00 Cr	₹172.00 Cr	₹225.00 Cr	₹300.00 Cr	₹188.00 Cr	₹278.00 Cr	₹141.00 Cr	₹273.00 Cr	₹187.00 Cr	₹204.00 Cr
Operating profit as a percentage of sales — how much of each rupee of sales the core business keeps before depreciation, interest, and tax.	3.0%	11.0%	10.0%	7.0%	10.0%	10.0%	7.0%	11.0%	6.0%	10.0%	8.0%	9.0%
Income from outside core operations — investment gains, interest earned, asset sales, one-time items. A large share of profit coming from here (rather than the core business) is worth noticing.	₹68.00 Cr	₹56.00 Cr	₹121.00 Cr	₹85.00 Cr	₹66.00 Cr	₹78.00 Cr	₹32.00 Cr	₹60.00 Cr	₹84.00 Cr	₹55.00 Cr	₹185.00 Cr	₹66.00 Cr
Exceptional items	₹0.00 Cr	₹2.00 Cr	₹59.00 Cr	₹0.00 Cr	₹0.00 Cr	₹0.00 Cr	₹0.00 Cr	₹0.00 Cr	₹0.00 Cr	₹0.00 Cr	₹126.00 Cr	₹0.00 Cr
Other income normal	₹68.00 Cr	₹54.00 Cr	₹63.00 Cr	₹85.00 Cr	₹66.00 Cr	₹78.00 Cr	₹32.00 Cr	₹60.00 Cr	₹84.00 Cr	₹55.00 Cr	₹58.00 Cr	₹66.00 Cr
The cost of servicing the company's debt during the period.	₹35.00 Cr	₹42.00 Cr	₹34.00 Cr	₹32.00 Cr	₹30.00 Cr	₹31.00 Cr	₹29.00 Cr	₹29.00 Cr	₹27.00 Cr	₹28.00 Cr	₹27.00 Cr	₹20.00 Cr
The non-cash accounting charge that spreads the cost of long-lived assets (equipment, buildings, intangibles) over their useful life.	₹60.00 Cr	₹54.00 Cr	₹53.00 Cr	₹51.00 Cr	₹49.00 Cr	₹45.00 Cr	₹35.00 Cr	₹42.00 Cr	₹36.00 Cr	₹50.00 Cr	₹36.00 Cr	₹33.00 Cr
Profit after all operating costs, other income, interest, and depreciation — but before tax is subtracted.	₹42.00 Cr	₹334.00 Cr	₹289.00 Cr	₹174.00 Cr	₹211.00 Cr	₹301.00 Cr	₹156.00 Cr	₹266.00 Cr	₹161.00 Cr	₹251.00 Cr	₹309.00 Cr	₹217.00 Cr
Tax paid as a percentage of pre-tax profit. A rate well below the normal corporate rate can mean a one-time tax benefit rather than a durable advantage.	48.0%	27.0%	29.0%	31.0%	28.0%	32.0%	27.0%	26.0%	32.0%	25.0%	23.0%	27.0%
The company's bottom-line profit for the quarter after all expenses, interest, depreciation, and taxes are subtracted.	₹22.00 Cr	₹244.00 Cr	₹205.00 Cr	₹119.00 Cr	₹151.00 Cr	₹206.00 Cr	₹114.00 Cr	₹198.00 Cr	₹109.00 Cr	₹188.00 Cr	₹237.00 Cr	₹159.00 Cr
Net profit as a percentage of sales — how much of each rupee of sales ultimately becomes bottom-line profit.	1.0%	7.1%	7.8%	4.8%	7.0%	6.8%	4.5%	7.6%	5.0%	6.8%	10.2%	6.9%
Net profit divided by the number of shares outstanding for the quarter — profit attributable to each share.	₹2.12	₹20.50	₹17.14	₹10.04	₹12.79	₹17.27	₹9.73	₹16.54	₹9.72	₹15.97	₹20.00	₹13.24

Income Statementin ₹ Cr

	TTM	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31
Total money the company brought in from its core business during the period, before any costs are subtracted.	₹10,839.00 Cr	₹10,774.00 Cr	₹10,387.00 Cr	₹9,323.00 Cr	₹8,090.00 Cr	₹6,128.00 Cr	₹4,791.00 Cr	₹5,731.00 Cr	₹5,973.00 Cr	₹4,465.00 Cr
Earnings before interest, taxes, depreciation, and amortization — profit from core operations before those items, often used to compare companies regardless of how they're financed or how much they depreciate.	₹870.00 Cr	₹1,038.00 Cr	₹910.00 Cr	₹797.00 Cr	₹601.00 Cr	₹414.00 Cr	₹356.00 Cr	₹401.00 Cr	₹457.00 Cr	₹377.00 Cr
The non-cash accounting charge that spreads the cost of long-lived assets (equipment, buildings, intangibles) over their useful life.	₹218.00 Cr	₹208.00 Cr	₹159.00 Cr	₹148.00 Cr	₹117.00 Cr	₹113.00 Cr	₹115.00 Cr	₹117.00 Cr	₹92.00 Cr	₹82.00 Cr
Profit from core operations after subtracting the cost of revenue and operating expenses like R&D and marketing, but before interest and taxes.	₹652.00 Cr	₹830.00 Cr	₹751.00 Cr	₹649.00 Cr	₹484.00 Cr	₹301.00 Cr	₹241.00 Cr	₹284.00 Cr	₹365.00 Cr	₹295.00 Cr
Operating income as a percentage of revenue.	6.0%	7.7%	7.2%	7.0%	6.0%	4.9%	5.0%	5.0%	6.1%	6.6%
Income from outside core operations — investment gains, interest earned, asset sales, one-time items. A large share of profit coming from here (rather than the core business) is worth noticing.	₹331.00 Cr	₹317.00 Cr	₹250.00 Cr	₹307.00 Cr	₹156.00 Cr	₹135.00 Cr	₹54.00 Cr	₹105.00 Cr	₹60.00 Cr	₹115.00 Cr
Exceptional items	–	₹130.00 Cr	₹115.00 Cr	₹75.00 Cr	-₹4.00 Cr	₹8.00 Cr	-₹53.00 Cr	₹5.00 Cr	-₹90.00 Cr	-₹1.00 Cr
Other income normal	–	₹187.00 Cr	₹134.00 Cr	₹233.00 Cr	₹160.00 Cr	₹127.00 Cr	₹108.00 Cr	₹100.00 Cr	₹150.00 Cr	₹116.00 Cr
The cost of servicing the company's debt during the period.	₹144.00 Cr	₹139.00 Cr	₹117.00 Cr	₹88.00 Cr	₹38.00 Cr	₹25.00 Cr	₹21.00 Cr	₹15.00 Cr	₹14.00 Cr	₹13.00 Cr
Profit after all operating costs, other income, interest, and depreciation — but before tax is subtracted.	₹839.00 Cr	₹1,008.00 Cr	₹884.00 Cr	₹869.00 Cr	₹603.00 Cr	₹410.00 Cr	₹275.00 Cr	₹375.00 Cr	₹410.00 Cr	₹397.00 Cr
Tax paid as a percentage of pre-tax profit. A rate well below the normal corporate rate can mean a one-time tax benefit rather than a durable advantage.	–	29.0%	29.0%	26.0%	25.0%	24.0%	25.0%	43.0%	21.0%	42.0%
The company's bottom-line profit after all expenses, interest, and taxes are subtracted.	₹591.00 Cr	₹720.00 Cr	₹627.00 Cr	₹643.00 Cr	₹451.00 Cr	₹312.00 Cr	₹207.00 Cr	₹212.00 Cr	₹325.00 Cr	₹231.00 Cr
Net income divided by the number of shares outstanding — profit attributable to each share.	₹49.80	₹60.47	₹53.25	₹54.15	₹37.79	₹26.21	₹17.34	₹17.83	₹27.31	₹19.48

Balance Sheetin ₹ Cr

	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31
Physical, long-lived assets used in the business — property, plant, equipment.	₹3,048.00 Cr	₹2,806.00 Cr	₹1,906.00 Cr	₹1,248.00 Cr	₹1,195.00 Cr	₹1,242.00 Cr	₹1,283.00 Cr	₹1,312.00 Cr	₹973.00 Cr	₹811.00 Cr
Financial investments the company holds — securities, stakes in other entities, and similar holdings.	₹1,784.00 Cr	₹1,699.00 Cr	₹1,765.00 Cr	₹1,626.00 Cr	₹1,477.00 Cr	₹234.00 Cr	₹875.00 Cr	₹829.00 Cr	₹1,472.00 Cr	₹1,083.00 Cr
Everything else the company owns that isn't fixed assets or investments — includes cash, receivables, and inventory, which this data source doesn't break out separately.	₹6,969.00 Cr	₹6,315.00 Cr	₹5,945.00 Cr	₹5,528.00 Cr	₹4,742.00 Cr	₹4,999.00 Cr	₹3,737.00 Cr	₹4,609.00 Cr	₹3,381.00 Cr	₹3,009.00 Cr
Everything the company owns that has value — cash, property, inventory, investments, and more.	₹13,242.00 Cr	₹11,382.00 Cr	₹10,141.00 Cr	₹8,836.00 Cr	₹7,458.00 Cr	₹6,500.00 Cr	₹5,951.00 Cr	₹6,790.00 Cr	₹5,929.00 Cr	₹5,044.00 Cr
All of the company's interest-bearing borrowings, short and long term combined.	₹2,353.00 Cr	₹1,718.00 Cr	₹1,277.00 Cr	₹831.00 Cr	₹368.00 Cr	₹328.00 Cr	₹230.00 Cr	₹240.00 Cr	₹234.00 Cr	₹136.00 Cr
Everything the company owes that isn't interest-bearing debt — payables, provisions, and other obligations.	₹5,339.00 Cr	₹4,728.00 Cr	₹4,424.00 Cr	₹4,137.00 Cr	₹3,598.00 Cr	₹2,921.00 Cr	₹2,693.00 Cr	₹3,535.00 Cr	₹2,980.00 Cr	₹2,371.00 Cr
Everything the company owes — debt, unpaid bills, and other obligations.	₹13,242.00 Cr	₹11,382.00 Cr	₹10,141.00 Cr	₹8,836.00 Cr	₹7,458.00 Cr	₹6,500.00 Cr	₹5,951.00 Cr	₹6,790.00 Cr	₹5,929.00 Cr	₹5,044.00 Cr
The face value of shares issued to shareholders — the smaller, more static part of shareholders' equity (see Reserves for the larger, accumulated part).	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr
Accumulated retained profits and other reserves built up over the company's history — usually the bulk of shareholders' equity.	₹5,527.00 Cr	₹4,914.00 Cr	₹4,417.00 Cr	₹3,846.00 Cr	₹3,470.00 Cr	₹3,229.00 Cr	₹3,005.00 Cr	₹2,992.00 Cr	₹2,692.00 Cr	₹2,515.00 Cr
What would be left for shareholders if the company sold all its assets and paid off all its debts — total assets minus total liabilities.	₹5,550.00 Cr	₹4,937.00 Cr	₹4,440.00 Cr	₹3,869.00 Cr	₹3,493.00 Cr	₹3,252.00 Cr	₹3,028.00 Cr	₹3,015.00 Cr	₹2,715.00 Cr	₹2,538.00 Cr

Cash Flow Statementin ₹ Cr

	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31
Actual cash generated by the core business, as opposed to accounting profit, which can include non-cash items.	₹542.00 Cr	₹1,080.00 Cr	₹247.00 Cr	₹460.00 Cr	₹325.00 Cr	₹769.00 Cr	₹326.00 Cr	-₹115.00 Cr	₹534.00 Cr	₹335.00 Cr
Cash spent on or received from investments — buying/selling physical assets, securities, or other businesses. Usually negative for a growing company (it's spending to invest).	-₹565.00 Cr	-₹1,257.00 Cr	-₹514.00 Cr	-₹664.00 Cr	-₹420.00 Cr	-₹627.00 Cr	-₹140.00 Cr	₹266.00 Cr	-₹507.00 Cr	-₹99.00 Cr
Cash flow from raising or repaying capital — issuing/repurchasing shares, taking on or repaying debt, paying dividends.	₹248.00 Cr	₹123.00 Cr	₹285.00 Cr	₹349.00 Cr	-₹21.00 Cr	₹77.00 Cr	-₹232.00 Cr	-₹65.00 Cr	-₹20.00 Cr	-₹126.00 Cr
The total change in the company's cash balance during the period — operating, investing, and financing cash flow combined.	₹224.00 Cr	-₹55.00 Cr	₹19.00 Cr	₹144.00 Cr	-₹115.00 Cr	₹220.00 Cr	-₹47.00 Cr	₹85.00 Cr	₹7.00 Cr	₹110.00 Cr
Cash left over after capital expenditures — money the company could use for dividends, buybacks, debt repayment, or reinvestment.	-₹401.00 Cr	₹180.00 Cr	-₹471.00 Cr	-₹190.00 Cr	₹241.00 Cr	₹686.00 Cr	₹278.00 Cr	-₹270.00 Cr	₹333.00 Cr	₹216.00 Cr

	You	Peer avg
P/E	73.3	40.9
Revenue Growth	+7.1%	-3.7%
ROE	–	19.1%

Thermax Limited

Price History

Volume & Moving Averages

Analyst Price Target

About the company

Key Metrics

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Jarvis Analysis

Recent Notable Coverage

Report Card

Ownership

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Reports & Coverage

Con Call Reports

Board of Directors / Annual Reports

Recent Articles

Quarterly Resultsin ₹ Cr

Income Statementin ₹ Cr

Balance Sheetin ₹ Cr

Cash Flow Statementin ₹ Cr

Peer Comparison