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THERMAXThermax Limited

Capital Goods · Conglomerates · NSE · as of 2026-07-21 (delayed ~30 min in market hours)

4,841.00
2.77%
60Decent

Price & Volume

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Key Ratios

Market Cap (₹ cr)49,334.50
P/E68.55
P/B8.89
PEG3.67
ROE %13.69
ROCE %12.00
Debt / Equity0.42
EPS63.89
Revenue Growth %11.10
Profit Growth %18.70
Dividend Yield %0.44
Promoter Holding %73.67
FII Holding %21.12
DII Holding %
Beta0.30

“—” means the figure isn't meaningful or isn't published for this company: ROE and Debt/Equity are undefined when shareholder equity is negative (check P/B — negative means negative equity), and DII/MF holding splits aren't provided by our current data source.

Active Pattern Signals

Pullback to 21-EMALONG69%4,841.004,358.505,738.831.86
HOLDConviction 69%

The picture

  • Profit growth: 18.7% YoY
  • Debt/Equity: 0.42
  • Promoter holding: 73.7%
  • RSI: 55
  • Price vs EMA21: above
  • Price vs SMA50: above
  • Pullback to 21-EMA signal (setup quality 69%)

Bull case

  • Profit growth: 18.7% YoY
  • Debt/Equity: 0.42
  • Promoter holding: 73.7%
  • RSI: 55

Bear case

  • Valuation vs sector: P/E 68.5 vs sector 39.8
  • PEG ratio: 3.67
  • MACD: bearish
  • Supertrend: bearish

Key risks

  • Valuation vs sector: P/E 68.5 vs sector 39.8
  • PEG ratio: 3.67

Algorithmic analysis for research only — not SEBI-registered investment advice.

Trade Plan

Entry (CMP)
₹4,841.00
Stop Loss
₹4,369.68
risk 9.7%
Target 1 (1.5R)
₹5,547.98
+14.6%
Target 2 (3R)
₹6,254.95
+29.2%
Support (20d)
₹4,358.50
Resistance (52w)
₹5,256.33
Risk : Reward
1 : 1.5 → 1 : 3
risking ₹471.32/share
ATR (volatility)
₹188.53
avg daily range

Stop = 20-day support with a 2.5×ATR risk cap (ATR ₹188.53). Levels recompute on every data refresh. Position sizing and execution are yours — this is analysis, not advice.

Score Breakdown

Fundamental
52
Technical
60
Momentum
69
Risk (safety)
62

Peers — Capital Goods

ADOR 7.88%
81
KSHINTL 1.30%
79
DIACABS 10.00%
78
INOXINDIA 4.32%
77
AARVI 3.51%
77
MMFL 4.13%
77

About

Thermax Limited provides energy, environmental, and chemical solutions in India and internationally. It operates in Industrial Products, Industrial Infra, Green Solutions, and Chemical segments. The Industrial Products segment offers manufacturing, installation, sales and services related to boilers and heating equipment, absorption chillers/heat pumps, air pollution control equipment/ systems, water & waste recycling, including associated services and engineering, procurement and construction. The Industrial Infra segment provides engineering, procurement, and construction (EPC) of power plants, infra projects, and flue gas desulphurisation projects, along with associated services and manufacturing, installation, sales and services related to boiler and heater plants. The Green solutions segment builds, owns and operates BOO models, energy management solutions, oil and gas-fired, green hydrogen projects and renewable energy (Solar/Wind). The Chemical segment offers manufacturing, installation, sales and services related to ion exchange resins, performance chemicals, construction chemicals, water treatment chemicals, oil field chemicals, paper and construction chemicals, and related services. It also operates cogeneration, waste heat recovery power, captive power, and independent power plants, as well as offers operation and maintenance services. In addition, the company offers steam boilers; waste heat recovery units; fired heaters and process furnaces; thermic fluid, hot air, and hot water heaters; and waste heat recovery. It serves automobiles, cement, chemicals and fertilizers, commercial/construction, dairy, distillery, paper and pulp, pharmaceuticals, plywood, power generation, food, refineries and petrochemicals, soft beverages, metals, sugar, textiles, and tyre industries. Thermax Limited was incorporated in 1966 and is headquartered in Pune, India. Thermax Limited is a subsidiary of RDA Holdings Private Limited.