TRINETRA › Sectors › Capital Goods
Thermax Limited (THERMAX) — share price, P/E and fundamentals
Thermax Limited (NSE: THERMAX) closed at ₹3,112.20 on 30 Oct 2026, -1.0% over one year, against a 52-week range of ₹2,742.70 – ₹5,277.80.
In the quarter ended 30 Jun 2026 (consolidated, filed 30 Jul 2026) it reported revenue of ₹2,303 cr and net profit of ₹25 cr, a 1.1% net margin; revenue grew 7.1% and profit fell 80.1% year on year.
On four consecutive filed quarters its trailing P/E is 59.1; since 9 May 2025 its own P/E has ranged from 46.7 to 81.8 (median 60.7), and today's reading is higher than 45% of those 365 trading days.
From the balance sheet dated 31 Mar 2026: return on equity 1.8%, ROCE 4.1%, debt-to-equity 0.41, Piotroski F-score 5 of 9.
Against 120 Capital Goods peers on NSE: Net margin higher than 5% of 117 sector peers; PBT margin higher than 6% of 119 sector peers; ROE higher than 5% of 113 sector peers.
Key figures
| Last close | ₹3,112.20 (30 Oct 2026) |
|---|---|
| Change 1 month / 6 months / 1 year | -8.6% / -22.3% / -1.0% |
| 52-week low – high | ₹2,742.70 – ₹5,277.80 |
| Market capitalisation | ₹35,059 cr |
| Trailing P/E | 59.1 |
| Price / book | 6.32 |
| EV / EBITDA | 30.5 |
| Earnings yield | 1.7% |
| TTM EPS | ₹52.67 |
| TTM net profit | ₹593 cr |
| Quarter revenue | ₹2,303 cr |
| Quarter net profit | ₹25 cr |
| Net margin | 1.1% |
| Revenue growth (YoY) | +7.1% |
| Profit growth (YoY) | -80.1% |
| Return on equity | 1.8% |
| ROCE | 4.1% |
| Debt / equity | 0.41 |
| Current ratio | 1.22 |
| Free cash flow | ₹-411 cr |
| Piotroski F-score | 5 / 9 |
| Average daily turnover (50 days) | ₹44.8 cr |
Against Capital Goods peers
| Metric | THERMAX | Peer median | Percentile |
|---|---|---|---|
| Net margin | 1.10 | 10.04 | 5 |
| PBT margin | 1.83 | 13.22 | 6 |
| ROE | 1.82 | 14.77 | 5 |
| ROCE | 4.14 | 18.52 | 6 |
| Debt / equity | 0.41 | 0.09 | 88 |
| Cash conversion | 0.75 | 0.71 | 52 |
| Trailing P/E | 59.09 | 42.46 | 71 |
| P/B | 6.32 | 6.14 | 51 |
Questions
What is the P/E ratio of Thermax Limited?
Thermax Limited's trailing P/E is 59.1, using the close of 30 Oct 2026 and earnings over the four filed quarters to 30 Jun 2026. Since 9 May 2025 its P/E has ranged 46.7–81.8.
What were Thermax Limited's latest quarterly results?
For the quarter ended 30 Jun 2026, Thermax Limited reported revenue of ₹2,303 cr and net profit of ₹25 cr (consolidated), filed with the exchange on 30 Jul 2026.
What is Thermax Limited's ROE?
Return on equity is 1.8% based on the balance sheet dated 31 Mar 2026.
Does Thermax Limited have debt?
Debt-to-equity is 0.41 on the balance sheet dated 31 Mar 2026.
What is THERMAX's 52-week high and low?
Over the last 52 weeks to 30 Oct 2026, THERMAX traded between ₹2,742.70 and ₹5,277.80.
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Source: consolidated SEBI Integrated Filing for the quarter ended 30 Jun 2026 and NSE daily closes. Open the interactive terminal view for charts and the full statements.
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