Thermax Limited provides engineering solutions in India and internationally. More Details
No risks detected for THERMAX from our risk checks.
Flawless balance sheet with reasonable growth potential and pays a dividend.
Share Price & News
How has Thermax's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: THERMAX is less volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: THERMAX's weekly volatility (5%) has been stable over the past year.
7 Day Return
1 Year Return
Return vs Industry: THERMAX exceeded the Indian Machinery industry which returned 78.9% over the past year.
Return vs Market: THERMAX exceeded the Indian Market which returned 59.4% over the past year.
Long-Term Price Volatility Vs. Market
How volatile is Thermax's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall StWe Think Thermax (NSE:THERMAX) Can Stay On Top Of Its Debt
1 month ago | Simply Wall StThermax Limited's (NSE:THERMAX) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
2 months ago | Simply Wall StUpdate: Thermax (NSE:THERMAX) Stock Gained 74% In The Last Year
Is Thermax undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: THERMAX (₹1395.55) is trading above our estimate of fair value (₹354.39)
Significantly Below Fair Value: THERMAX is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: THERMAX is poor value based on its PE Ratio (76.1x) compared to the Indian Machinery industry average (24.8x).
PE vs Market: THERMAX is poor value based on its PE Ratio (76.1x) compared to the Indian market (21.8x).
Price to Earnings Growth Ratio
PEG Ratio: THERMAX is poor value based on its PEG Ratio (2.9x)
Price to Book Ratio
PB vs Industry: THERMAX is overvalued based on its PB Ratio (4.8x) compared to the IN Machinery industry average (1.8x).
How is Thermax forecast to perform in the next 1 to 3 years based on estimates from 22 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: THERMAX's forecast earnings growth (26% per year) is above the savings rate (6.8%).
Earnings vs Market: THERMAX's earnings (26% per year) are forecast to grow faster than the Indian market (21.3% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: THERMAX's revenue (13.4% per year) is forecast to grow faster than the Indian market (12.6% per year).
High Growth Revenue: THERMAX's revenue (13.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: THERMAX's Return on Equity is forecast to be low in 3 years time (13.7%).
How has Thermax performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: THERMAX has high quality earnings.
Growing Profit Margin: THERMAX's current net profit margins (4.3%) are higher than last year (3.7%).
Past Earnings Growth Analysis
Earnings Trend: THERMAX's earnings have declined by 6.1% per year over the past 5 years.
Accelerating Growth: THERMAX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: THERMAX had negative earnings growth (-2.8%) over the past year, making it difficult to compare to the Machinery industry average (10.4%).
Return on Equity
High ROE: THERMAX's Return on Equity (6.4%) is considered low.
How is Thermax's financial position?
Financial Position Analysis
Short Term Liabilities: THERMAX's short term assets (₹44.7B) exceed its short term liabilities (₹30.7B).
Long Term Liabilities: THERMAX's short term assets (₹44.7B) exceed its long term liabilities (₹1.8B).
Debt to Equity History and Analysis
Debt Level: THERMAX's debt to equity ratio (8.9%) is considered satisfactory.
Reducing Debt: THERMAX's debt to equity ratio has reduced from 11.7% to 8.9% over the past 5 years.
Debt Coverage: THERMAX's debt is well covered by operating cash flow (264.6%).
Interest Coverage: THERMAX's interest payments on its debt are well covered by EBIT (11.7x coverage).
What is Thermax current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: THERMAX's dividend (0.5%) is higher than the bottom 25% of dividend payers in the Indian market (0.37%).
High Dividend: THERMAX's dividend (0.5%) is low compared to the top 25% of dividend payers in the Indian market (1.54%).
Stability and Growth of Payments
Stable Dividend: THERMAX's dividends per share have been stable in the past 10 years.
Growing Dividend: THERMAX's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (38.2%), THERMAX's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: THERMAX's dividends in 3 years are forecast to be well covered by earnings (23.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Ashish Bhandari (49 yo)
Mr. Ashish Bhandari serves as Managing Director & Chief Executive Officer at Thermax Limited since September 1, 2020 and serves as its Member of the Executive Council. He served as Additional Director at T...
Experienced Management: THERMAX's management team is considered experienced (2.3 years average tenure).
Experienced Board: THERMAX's board of directors are seasoned and experienced ( 10.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Thermax Limited's company bio, employee growth, exchange listings and data sources
- Name: Thermax Limited
- Ticker: THERMAX
- Exchange: NSEI
- Founded: 1966
- Industry: Industrial Machinery
- Sector: Capital Goods
- Market Cap: ₹157.160b
- Shares outstanding: 112.61m
- Website: https://www.thermaxglobal.com
Number of Employees
- Thermax Limited
- Thermax House
- 14 Mumbai-Pune Road
Thermax Limited provides engineering solutions in India and internationally. It operates through three segments: Energy, Environment, and Chemical. The company offers vapor absorption chillers, heat pumps ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/06/24 12:22|
|End of Day Share Price||2021/06/24 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.