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Stock THERMAX THERMAX LIMITED
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Thermax Limited

Equities

THERMAX

INE152A01029

Industrial Machinery & Equipment

Market Closed - NSE India S.E.
Other stock markets
05:46:09 12/01/2026 pm IST
5-day change 1st Jan Change
2,949.40 INR -2.45% Intraday chart for Thermax Limited -3.95% -2.42%
06/01 IIFL Downgrades Thermax to Reduce from Add; Price Target is INR2,644 MT
12/12 Kotak Securities Upgrades Thermax to Buy From Add; Price Target is INR3,575 MT
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Thermax Subsidiary Bags INR5.8-Billion Boiler Order From Dangote Refinery

Published on 11/26/2025 at 05:59 pm IST - Modified on 11/26/2025 at 06:21 pm IST

MT Newswires
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Latest news about Thermax Limited

06/01 IIFL Downgrades Thermax to Reduce from Add; Price Target is INR2,644 MT
12/12 Kotak Securities Upgrades Thermax to Buy From Add; Price Target is INR3,575 MT
10/12 Rashtriya Chemicals and Fertilizers got order to refund 2.18 billion rupees deposited by Thermax with 6% per annum interest rate RE
09/12 Bombay High Court sets aside arbitral award against Thermax RE
26/11 Thermax Subsidiary Bags INR5.8-Billion Boiler Order From Dangote Refinery MT
26/11 Thermax gets order valued at 5.80 billion rupees RE
13/11 Jefferies Adjusts Thermax's Price Target to INR3,880 From INR4,500, Keeps at Buy MT
12/11 Thermax Limited, Q2 2026 Earnings Call, Nov 12, 2025
12/11 Indian shares rally on IT boost, Reliance gains; Bihar state exit polls lift mood RE
11/11 Thermax Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2025 CI
11/11 India's Thermax misses profit views as extended monsoon slows order execution RE
06/11 Engineering firm ABB India's profit falls as orders dip RE
17/25/17 Thermax says merger with Buildtech Products India RE
13/25/13 Exposome Private Limited announced that it has received INR 230 million in funding from a group of investors CI
09/25/09 First Energy Private Limited announced that it has received INR 1.15 billion in funding from Thermax Limited CI
20/25/20 Thermax Limited completed the acquisition of remaining 23.03% stake in Thermax Bioenergy Solutions Private Limited from EverEnviro Resource Management Private Limited. CI
13/25/13 Thermax Limited entered into a share purchase agreement to acquire remaining 23.03% stake in Thermax Bioenergy Solutions Private Limited from EverEnviro Resource Management Private Limited for approximately INR 170 million. CI
12/25/12 HydrogenPro Announces Strategic Partnership with Thermax CI
12/25/12 Thermax enters technology licensing agreement with HydrogenPro RE
12/25/12 Hydrogenpro announces strategic partnership with Thermax RE
08/25/08 MSCI to add Swiggy, 3 other Indian stocks to flagship index, reduce Eternal's weight RE
08/25/08 MSCI to add Swiggy, 3 other Indian stocks to flagship index, reduce Eternal's weight RE
04/25/04 Jefferies Adjusts Thermax's Price Target to INR4,500 From INR4,465, Keeps at Buy MT
01/25/01 Thermax Limited Declares Dividend for the Financial Year Ended March 31, 2025 CI
01/25/01 Thermax Limited, Q1 2026 Earnings Call, Aug 01, 2025

Chart Thermax Limited

Chart Thermax Limited
THERMAX: Dynamic Chart

Company Profile

Logo Thermax Limited
Thermax Limited is an India-based energy and environment solutions provider. The Company's segments include Industrial Products, Industrial Infra, Green Solutions and Chemical. Industrial Products segment includes air pollution control, cooling, heating, water and waste solutions, and specialized services. Industrial Infra segment includes boilers and fired heaters, projects and energy solutions, and specialized services. Green Solutions segment includes build-own-operate, energy management solutions, green hydrogen projects and renewable energy (solar/wind). Chemical segment includes construction chemicals, ion exchange resins, oil field chemicals and performance chemicals. Its Thermax EDGE Live is a digital solution that uses AI and machine learning to analyze data from all industrial equipment worldwide and help clients to optimize asset performance in terms of up time and efficiency. It serves various industries, including aviation, construction, biotechnology and chemicals.
Employees
5,601
Sector
Industrial Machinery & Equipment
Calendar
02/02 - Q3 2026 Earnings Release
More about the company

Income Statement and Estimates

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Ratings

Trader

Trader

This super rating is the result of a weighted average of the rankings based on the following ratings: Global Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.

Investor

Investor

This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Global Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.

Global

Global

This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite), and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.

Quality

Quality

This composite rating is the result of an average of the rankings based on the following ratings: Capital Efficiency (Composite), Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.

ESG MSCI
BB
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Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
2,949.40INR
Average target price
3,442.52INR
Spread / Average Target
+16.72%
Consensus
EPS Estimates
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Quarterly revenue - Rate of surprise

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