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Release
August 2026 · rev 1
Opportunities PMS · Published
As at 31 Aug 2026 · IST₹ · ₹ cr · BSE 500 TRI
Present
Internal working platform. Published figures are extracted from the August 2026 source package and reviewed; reference prices and fundamentals are unlicensed working data, not for redistribution. Past performance is not indicative of future returns.
All listed companies/Thermax Limited
03 /Listed universe · Capital Goods · Engineering & Capital Goods

Thermax Limited.

Value itCompareScreener.in ↗Tijori ↗NSE ↗BSE ↗
Snapshot

Capital Goods · Engineering & Capital Goods

Thermax Limited provides energy, environmental, and chemical solutions in India and internationally. It operates in Industrial Products, Industrial Infra, Green Solutions, and Chemical segments. The Industrial Products segment offers manufacturing, installation, sales and services related to boilers and heating equipment, absorption chillers/heat pumps, air pollution control equipment/ systems, water & waste recycling, including associated services and engineering, procurement and construction. The Industrial Infra segment provides engineering, procurement, and construction (EPC) of power plants, infra projects, and flue gas desulphurisation projects, along with associated services and manufacturing, installation, sales and services related to boiler and heater plants. The Green solutions segment builds, owns and operates BOO models, energy management solutions, oil and gas-fired, green hydrogen projects and renewable energy (Solar/Wind). The Chemical segment offers manufacturing, installation, sales and services related to ion exchange resins, performance chemicals, construction chemicals, water treatment chemicals, oil field chemicals, paper and construction chemicals, and related services. It also operates cogeneration, waste heat recovery power, captive power, and independent power plants, as well as offers operation and maintenance services. In addition, the company offers steam boilers; waste heat recovery units; fired heaters and process furnaces; thermic fluid, hot air, and hot water heaters; and waste heat recovery. It serves automobiles, cement, chemicals and fertilizers, commercial/construction, dairy, distillery, paper and pulp, pharmaceuticals, plywood, power generation, food, refineries and petrochemicals, soft beverages, metals, sugar, textiles, and tyre industries. Thermax Limited was incorporated in 1966 and is headquartered in Pune, India. Thermax Limited is a subsidiary of RDA Holdings Private Limited.

Market cap
₹41,406 cr
P/E (TTM)
70
P/B (latest)
7.5
ROE (TTM)
13%
ROCE (TTM)
14.9%
Sales CAGR 3y
9.8%
PAT CAGR 3y
17%
Debt / equity
0.41x
Promoter
62%
Dividend yield
0.58%
Size
Mid
Codes
THERMAX · 500411
Price

₹3,291 · 29 Sept 2026

1M
−16.6%
3M
−35.8%
6M
+2.9%
YTD
+7.4%
1Y
+5.1%
3Y
+12.0%
5Y
—
vs 52w high
−36.2%

52-week ₹2,773.8 – ₹5,159.5 · ADTV ₹97.4 cr · price-only.

Trend

Sales and net profit by fiscal year, ₹ crore

Not in the Buoyant book: no house thesis or target is carried. Exchange masters, Tijori and the reference price feed as stated on each tab. All listed companies · NSE EQ