# Thermax Limited (THERMAX)

> THERMAX closed at ₹3,112.20 on 30 Oct 2026, trailing P/E 59.1, market cap ₹35,059 cr, latest results for the quarter ended 30 Jun 2026. Revenue, profit, ROE, debt, own P/E range and sector-peer comparison from the SEBI filing.

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

| Figure | Value |
|---|---|
| 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 |

## 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.

Sector: [Capital Goods](https://trinetra.trade/sectors/capital-goods) · Page: https://trinetra.trade/fundamentals/THERMAX

_TRINETRA is a research and education tool. Nothing on this site is investment advice or a recommendation to buy or sell any security. Markets carry risk; do your own research and consult a SEBI-registered adviser before investing._