NSE/THERMAX (NSE/THERMAX)

National Stock Exchange of India: NSE/THERMAX · INR

₹3,180

+26.80 (+0.8%)· Recorded snapshot

Market cap	358.3B
Revenue (ttm)	108.4B
Net income (ttm)	5.9B
EPS (ttm)	₹52.7
Shares out	112.6M
P/E (trailing)	60.4x
P/E (forward)	46.9x
Dividend	₹14.0 (0.44%)
Volume	69,022
Beta	0.30

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 108.4B
Net income (ttm): 5.9B
EPS (ttm): ₹52.7
P/E (trailing): 60.4x
P/E (forward): 46.9x
Market cap: 358.3B

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E46.9

P25 n/aP50 n/aP75 n/a

Trailing P/E60.4

P25 n/aP50 n/aP75 n/a

ROE13.7

P25 n/aP50 n/aP75 n/a

ROIC8.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All NSE/THERMAX indicators

Market & fundamental data

Available fields

245

Groups with data

Currency

INR

Showing 245 of 245 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	INR
Country	India
Country code	IN
Earnings date	2026-11-05
Employees	3,962
Employees change	258
Employees growth	6.97%
Enterprise value	INR 357.4B
Exchange	National Stock Exchange of India
Financial currency	INR
Financial report date	2026-06-30
First seen	2026-05-10
Fiscal year end	March
Founded	1966
Industry	Conglomerates
Is primary listing	Yes
ISIN number	INE152A01029
Last earnings date	2026-07-30
Last refreshed	2026-10-28
Last stock split date	2006-03-31
Last stock split type	Forward
Market cap	INR 358.3B
Next earnings date	2026-11-05
Price	INR 3,180.00
Price currency	INR
Sector	Industrials
SIC code	3433
Stock price date	2026-10-28
Symbol	nse/THERMAX
Website	https://www.thermaxglobal.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	56.26x
Average P/E ratio (10Y)	57.8x
Average P/E ratio (3Y)	68.18x
Average P/E ratio (5Y)	65.55x
Earnings yield	1.66%
EV/Earnings	60.24x
EV/EBIT	54.88x
EV/EBITDA	40.83x
EV/Sales	3.3x
FCF / EV yield	-1.15%
FCF yield	-1.15%
Forward P/E	46.88x
Graham number	763.87858
Graham upside	-75.98%
Industry P/E	23.35x
Lynch fair value	INR 924.56
Lynch upside	-70.93%
P/(OCF - SBC) ratio	66.76x
P/B ratio	6.42x
P/E ratio	60.4x
P/OCF ratio	66.16x
P/S ratio	3.31x
PEG ratio	2.21x
Price / tangible book value	6.73x
Price/EBITDA ratio	40.92x
Sector forward P/E	31.76x
Sector P/E	36.46x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	6.01%
EBITDA margin	8.08%
Effective tax rate	29.57%
Gross margin	34.09%
Operating margin	6.01%
Pretax margin	7.74%
Profit margin	5.47%
Profit per employee	INR 1.5M
Profitable quarters	24
Profitable years	22
Revenue per employee	INR 27.4M
ROA	4.21%
ROA (5Y)	3.89%
ROCE	11.14%
ROE	13.69%
ROE (5Y)	12.81%
ROIC	8.39%
ROIC (5Y)	14.9%
SBC / revenue	0.05%
Tax / revenue	2.29%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-11.58%
EPS growth (Q)	-83.43%
EPS growth (QoQ)	-89.67%
EPS growth 10Y	8.81%
EPS growth 3Y	9.68%
EPS growth 5Y	17.55%
EPS growth years	1
Gross profit growth	-21.54%
Gross profit growth (Q)	-29.51%
Gross profit growth 3Y	0.53%
Gross profit growth 5Y	8.64%
Net income growth	-11.58%
Net income growth (Q)	-83.44%
Net income growth (QoQ)	-89.67%
Net income growth 3Y	9.55%
Net income growth 5Y	17.56%
Net income growth years	1
OCF growth	-49.85%
OCF growth 10Y	7.93%
OCF growth 3Y	5.62%
OCF growth 5Y	-6.78%
Operating income growth	-20.99%
Operating income growth (Q)	-94.84%
Operating income growth 3Y	6%
Operating income growth 5Y	15.53%
Revenue growth	4.68%
Revenue growth (Q)	7.1%
Revenue growth (QoQ)	-32.83%
Revenue growth 10Y	7.47%
Revenue growth 3Y	9.01%
Revenue growth 5Y	15.92%
Revenue growth quarters	3
Revenue growth years	5

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	INR -9.5B
Depreciation and amortization	INR 2.2B
EBIT	INR 6.5B
EBITDA	INR 8.8B
EPS	INR 52.65
FCF per share	INR -36.47
Financing cash flow	INR 2.5B
Free cash flow	INR -4.1B
Free cash flow minus SBC	INR -4.2B
Gross profit	INR 36.9B
Income taxes	INR 2.5B
Investing cash flow	INR -5.9B
Net borrowing	INR 5.3B
Net cash flow	INR 2.2B
Net income	INR 5.9B
Operating cash flow minus SBC	INR 5.4B
Operating income	INR 6.5B
Revenue	INR 108.4B
Stock-based compensation	INR 48.9M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	INR 492.56
Debt / EBITDA	2.69
Debt / equity	0.42
Interest coverage	4.53
Net cash (debt)	INR 1.1B
Net cash / market cap	0.32%
Net cash growth	-88.54%
Net debt / EBITDA	-0.13
Net debt / equity	-0.02
Piotroski F-Score	3
Shareholders' equity	INR 55.8B
Tangible book value	INR 53.2B
Tangible book value per share	INR 472.18
Total cash	INR 24.7B
Total debt	INR 23.5B
WACC	5.81%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.87
Current ratio	1.22
Inventory turnover	8.71
Quick ratio	0.96
Working capital	INR 12.9B

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.01%
Dividend growth	42.86%
Dividend growth (10Y)	12.79%
Dividend growth (3Y)	25.99%
Dividend growth (5Y)	23.36%
Dividend growth years	4
Dividend payment date	2026-08-29
Dividend payment years	26
Dividend payout frequency	Annual
Dividend per share	INR 14.00
Dividend yield	0.44%
Ex-dividend date	2026-07-03
Last dividend	INR 20.00
Payout ratio	37.99%
Shareholder yield	0.43%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	275.75%
10Y return CAGR	14.76%
10Y total return	295.98%
150-day SMA	INR 4,055.99
15Y price change	617.19%
15Y return CAGR	14.78%
15Y total return	690.93%
1D price change	0.85%
1M price change	-7.75%
1M total return	-7.75%
1W price change	-1.7%
1W total return	-1.7%
1Y price change	-4.05%
1Y return CAGR	-3.66%
1Y total return	-3.66%
20-day SMA	INR 3,240.05
200-day SMA	INR 3,796.67
20Y price change	904.58%
20Y return CAGR	13.17%
20Y total return	1,087.07%
3M price change	-28.61%
3M total return	-28.61%
3Y price change	14.64%
3Y return CAGR	5.02%
3Y total return	15.84%
50-day SMA	INR 3,540.75
50-day SMA vs 200-day SMA	50under200
52-week high	INR 5,277.80
52-week high date	2026-06-29
52-week low	INR 2,742.70
52-week low date	2025-12-08
5Y price change	137.96%
5Y return CAGR	19.38%
5Y total return	142.47%
6M price change	-23.49%
6M total return	-23.18%
All-time high	INR 5,839.95
All-time high date	2024-07-08
All-time low	INR 7.65
All-time low date	2001-09-21
Average true range (ATR)	INR 109.20
Average volume	185.2K
Beta (1Y)	0.73
Beta (2Y)	0.74
Beta (5Y)	0.3
Change from 52-week high	-39.75%
Change from 52-week low	15.94%
Change from all-time high	-45.55%
Change from all-time low	41,468.63%
Change from open	1.69%
Day's gap	-0.83%
Dollar volume	INR 219.5M
High price	INR 3,206.00
Low price	INR 3,125.00
Monthly RSI	45.16
Open price	INR 3,127.00
Position in 52-week range	67.9%
Previous close	INR 3,153.30
Price vs 150-day SMA	-21.6%
Price vs 20-day SMA	-1.85%
Price vs 200-day SMA	-16.24%
Price vs 50-day SMA	-10.19%
Relative volume	0.37
RSI	39.52
Sharpe ratio	0.08
Sharpe ratio (3Y)	0.17
Sharpe ratio (5Y)	0.54
Sortino ratio	0.3
Sortino ratio (3Y)	0.41
Sortino ratio (5Y)	0.99
Volume	69K
Weekly RSI	34.7
YTD price change	5.21%
YTD total return	5.64%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	32.5M
Shares change (QoQ)	0%
Shares change (YoY)	0.01%
Shares held by insiders	0.01%
Shares held by institutions	19.99%
Shares outstanding	112.6M

Deeper analysis on NSE/THERMAX

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

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Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

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Risks

Kill scenarios, soft-pass flags, and downside catalysts.

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Earnings

Next earnings setup and beat / inline / miss thresholds.

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Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

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Financials

Revenue, margins, cash flow, and balance-sheet context.

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Peers

Relative valuation and profitability against the cohort.

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Moat

Economic-profit evidence and competitive advantage risk.

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Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Frequently asked questions

About this NSE/THERMAX report

Is a complete NSE/THERMAX research report available?

No complete published report is available for nse/THERMAX (NSE/THERMAX) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

NSE/THERMAX (NSE/THERMAX)

Price

Financial snapshot

Fair-value bridge

Latest news · NSE/THERMAX

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All NSE/THERMAX indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on NSE/THERMAX

Frequently asked questions