THERMAX3,640.00

Thermax Ltd.

· Capital Goods & Defence
₹ CrorePeersBHELTRITURBINEAIAENGAPARINDSESCORTSHONAUTPREMIERENEKEIMcap ₹41,005 Cr
Comp Set
In ₹ Crore except Per Share
Latest Annual
THERMAX
FY26
BHEL
FY26
TRITURBINE
FY26
AIAENG
FY26
Peer
Median
Valuation — at last close
P/E56.92×93.09×51.35×30.34×51.35× +11%
P/B7.35×5.70×12.42×4.80×5.70× +29%
EV/EBITDA40.28×66.54×39.00×27.20×39.00× +3%
Market Cap₹41,005 Cr₹1.49L Cr₹17,964 Cr₹38,541 Cr₹38,541 Cr +6%
Growth
Revenue CAGR 3Y9.75%13.08%20.47%-3.44%13.08% -25%
Revenue CAGR 5Y17.42%14.31%25.43%8.93%14.31% +22%
Net Income CAGR 3Y16.91%49.66%21.90%6.30%21.90% -23%
Revenue YoY (latest Q)7.09%40.29%19.23%12.42%19.23% -63%
Net Income YoY (latest Q)-85.61%182.70%-20.65%-1.37%-1.37% -6149%
Profitability
EBITDA Margin9.60%6.93%20.65%28.42%20.65% -54%
Net Income Margin6.74%4.74%16.02%28.71%16.02% -58%
Return on Common Equity12.91%6.12%24.18%15.81%15.81% -18%
Return on Capital Employed10.97%4.62%27.91%14.00%14.00% -22%
Return on Assets5.42%2.10%13.99%14.86%13.99% -61%
Credit & Quality
Total Debt/Equity0.41×0.31×0.00×0.00×0.00×
Interest Coverage5.89×2.68×160.08×31.33×31.33× -81%
Scale — latest FY
Revenue / Total Income₹10,694 Cr₹33,782 Cr₹2,181 Cr₹4,420 Cr₹4,420 Cr +142%
Net Income₹720 Cr₹1,600 Cr₹349 Cr₹1,269 Cr₹1,269 Cr -43%
Total Assets₹13,282 Cr₹76,186 Cr₹2,497 Cr₹8,538 Cr₹8,538 Cr +56%
EPS₹63.95₹4.6₹11₹136.11₹11 +481%
Book Value per Share₹495.27₹75.09₹45.47₹860.93₹75.09 +560%
◆ best value in the comp set per metric · Δ = subject vs median of the other companies.
« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave
Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreementXBRL cross-verified ✓ 95%.