Thermax Ltd.
NSE: THERMAX · Capital Goods
Sector
Capital Goods
Size band
Mid cap
Market cap
38,321cr
P/E
53
ROE
15.3%
Dividend yield
0.4%
No price is shown on this page, live or delayed. It records what management said on the earnings call, and the company’s filings.
Measured against
Peer set
Engineering - Industrial Equipments · largest 12 of 42 measured at Q1 FY27 · financials via Screener| Company | Operating margin | Revenue growth |
|---|---|---|
| Bharat Heavy Electricals Ltd. | 7.0% | 40.3% |
| Thermax Ltd. | 3.0% | 6.7% |
| AIA Engineering Ltd. | 26.0% | 12.4% |
| Kirloskar Oil Engines Ltd. | 15.0% | 13.5% |
| Syrma SGS Technology Ltd. | 10.0% | 68.3% |
| Triveni Turbine Ltd. | 12.0% | 19.4% |
| Tega Industries Ltd. | 3.2% | 384.0% |
| BEML Ltd. | 0.2% | 29.3% |
| Kirloskar Brothers Ltd. | 10.0% | 12.9% |
| Action Construction Equipment Ltd. | 15.0% | 20.6% |
| Swan Defence and Heavy Industries Ltd. | −69.0% | — |
| Elecon Engineering Company Ltd. | 21.0% | 6.1% |
No guidance on record.
This section quotes what management told the market on the quarterly earnings call. We have not transcribed one for Thermax Ltd..
On air
4 calls · outcomes not trackedRecorded as stated on air, with the analyst's SEBI registration status where it was given. Anchor calls carry no registration and are marked. Bharatstox does not make, endorse or repeat these calls, and none of them is our view.
| Channel & show | Aired | Stated target | Stated stop | Outcome |
|---|---|---|---|---|
| Zee BusinessZee Business · no registration attached | 11 Sep | +12.5% | — | still open |
| Zee BusinessZee Business · no registration attached | 18 Aug | +6.0% | -2.2% | still open |
| Zee BusinessZee Business · no registration attached | 18 Aug | +6.0% | — | still open |
| Zee BusinessZee Business · no registration attached | 18 Aug | +6.0% | -2.2% | still open |
Shareholding
change across 4 filings| Category | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Change |
|---|---|---|---|---|---|
| Promoters | 62.0 | 62.0 | 62.0 | 62.0 | 0.0 |
| Foreign institutions | 11.5 | 11.2 | 12.4 | 13.4 | −1.9 |
| Domestic institutions | 15.2 | 15.5 | 14.8 | 14.0 | +1.2 |
| Retail & others | 11.3 | 11.3 | 10.8 | 10.6 | +0.7 |
As filed with the exchange for the periods ending Sep 25 to Jun 26.
Filings
latest 25 of 286- Thermax Limited has informed the Exchanges about incorporation of wholly owned step-down subsidiary.15 Sept 2026
- Acquisition15 Sept 2026
- Analysts/Institutional Investor Meet/Con. Call Updates6 Aug 2026
- Appointment31 Jul 2026
- Shareholders meeting31 Jul 2026
- Analysts/Institutional Investor Meet/Con. Call Updates31 Jul 2026
- Copy of Newspaper Publication31 Jul 2026
- Investor Presentation31 Jul 2026
- Investor Presentation30 Jul 2026
- Shareholders meeting30 Jul 2026
- Scheme of Arrangement30 Jul 2026
- Demerger30 Jul 2026
- Amalgamation/Merger30 Jul 2026
- Outcome of Board Meeting30 Jul 2026
- Analysts/Institutional Investor Meet/Con. Call Updates21 Jul 2026
- Certificate under SEBI (Depositories and Participants) Regulations, 201817 Jul 2026
- Certificate under SEBI (Depositories and Participants) Regulations, 20189 Jul 2026
- General Updates3 Jul 2026
- Shareholders meeting3 Jul 2026
- Cessation30 Jun 2026
- Trading Window26 Jun 2026
- General Updates25 Jun 2026
- Copy of Newspaper Publication25 Jun 2026
- General Updates3 Jun 2026
- Copy of Newspaper Publication26 May 2026
The 25 most recent of 286 filings we hold for THERMAX, back to January 2024. Every filing, by day.
Disclaimer
Guidance is quoted from management commentary on quarterly earnings calls; the words are the company's own and the targets are theirs, not ours. Peer comparisons use quarterly financials sourced from Screener, with every company measured at the same fiscal quarter; the peer set is companies sharing the same industry classification, and comparisons are descriptive, not a ranking or a view. Broadcast calls are reproduced as stated on air, attributed, with the analyst's SEBI registration status where given; they are not our calls and not our view. Filings are reproduced as companies filed them to the NSE and BSE; Bharatstox does not verify, endorse or comment on their contents. This page is for informational and educational purposes only and does not constitute investment advice, research, or a recommendation to buy or sell any security. Investing in securities markets is subject to market risks. Read all related documents carefully before investing.