Thermax Ltd.

NSE: THERMAX | BSE: 500411 | ISIN: INE152A01029 |Industry: Heavy Electrical Equipment
|Expensive Performer
Durability score
55 /100
Valuation score
20.2 /100
Momentum score
50.1 /100
Market Capitalizati...
12,104.5 Cr.
AVG Broker Target
1,092
PE TTM Price to Ear...
37.1

Peer Group

StockCurrent Price RsPE TTM Price to EarningsMarket Capitalization in CrDividend yield 1yr %Net Profit Qtr CrNet Profit Annual Growth YoY %Revenue Qtr CrRevenue Growth Qtr YoYPrice to Book Value
Thermax Ltd. 1075.0037.0712104.500.56127.2527.392073.6743.704.46
Siemens Ltd.
Market Leader
1245.7544.7144348.700.56280.30-21.153549.608.115.34
ABB India Ltd.
Market Runner Up
1551.3062.6632872.050.31116.1921.651850.2518.128.20
Bharat Heavy Electri.. 73.8021.1425697.532.47682.700.0010297.161.480.79
Kalpataru Power Tran.. 530.0020.278132.850.47136.8824.632491.4328.992.94
KEC International Ltd. 308.8016.117939.250.78198.767.683841.174.833.97
Adani Green Energy L.. 41.25-184.426451.560.007.89-22.26211.51243.464.38
GE Power India Ltd. 825.0072.935546.480.3627.25186.33344.63-5.956.68
All values except ratios in INR(Crores)
IndicatorMar-2019Dec-2018Sep-2018Jun-2018Mar-2018Dec-2017Sep-2017Jun-2017Mar-2017Graph
Revenue Qtr Cr 1,327.6 846.8 1,188.4 849.3 1,310.1 980.5 863.9 713.4 1,342.8
Operating Expenses Qtr Cr 1,215.2 777.9 1,104.8 790.6 1,160.2 888.1 777.8 670.5 1,190.8
Operating Profit Qtr Cr 112.4 69.0 83.6 58.7 149.9 92.4 86.1 42.9 152.1
Operating Profit Margin Qtr % 8.46% 8.15% 7.03% 6.91% 11.44% 9.43% 9.97% 6.02% 11.33%
Other Income Qtr Cr 32.4 24.2 41.4 27.8 38.0 21.9 21.9 22.2 32.1
Depreciation Qtr Cr 12.4 11.9 15.8 16.9 17.5 16.8 15.0 14.9 16.3
Interest Qtr Cr 2.0 0.9 2.1 2.0 2.0 1.7 3.8 0.5 1.7
Profit Before Tax Qtr Cr 109.8 53.1 107.1 67.6 143.4 95.8 89.2 49.7 33.5
Tax Qtr Cr 45.2 26.8 37.8 22.7 57.7 32.6 32.3 17.3 50.2
Net Profit Qtr Cr 112.8 48.2 69.3 44.9 85.8 63.2 56.8 32.4 -16.7
Basic EPS Qtr Rs 9.5 4.0 5.8 3.8 7.2 5.3 4.8 2.7 -1.4
Net profit TTM Cr 275.3 248.2 263.2 250.7 238.3 135.8 129.2 132.1 144.8
Basic EPS TTM Rs 23.1 20.8 22.1 21.0 20.0 11.4 10.8 11.1 12.2
Quarterly Revenue Qtr Cr Analysis
Revenue Qtr Cr growth is higher than historical averages.
Quarterly Net Profit Qtr Cr Analysis
Net Profit Qtr Cr growth is stable compared to historical averages.
IndicatorMar-2019Dec-2018Sep-2018Jun-2018Mar-2018Dec-2017Sep-2017Jun-2017Mar-2017Graph
Revenue Qtr Cr 2,073.7 1,436.6 1,427.6 1,035.3 1,443.0 1,117.0 1,033.1 871.8 1,490.5
Operating Expenses Qtr Cr 1,902.9 1,329.3 1,317.6 965.9 1,304.8 1,021.5 937.9 799.7 1,317.2
Operating Profit Qtr Cr 170.8 107.3 110.0 69.3 138.2 95.5 95.2 72.2 173.2
Operating Profit Margin Qtr % 8.24% 7.47% 7.71% 6.7% 9.58% 8.55% 9.21% 8.28% 11.62%
Other Income Qtr Cr 52.0 31.3 35.6 31.0 45.0 23.8 23.6 24.1 29.7
Depreciation Qtr Cr 24.7 22.9 23.4 21.0 23.9 20.8 18.9 18.9 22.9
Interest Qtr Cr 3.5 3.6 3.9 3.3 3.7 2.5 5.1 1.6 2.5
Profit Before Tax Qtr Cr 192.5 24.6 118.3 76.1 155.5 96.1 94.8 75.7 159.6
Tax Qtr Cr 65.3 -51.1 43.4 27.4 62.6 37.8 37.0 28.4 59.8
Net Profit Qtr Cr 127.3 75.7 74.8 48.7 92.9 58.3 57.8 47.3 99.8
Basic EPS Qtr Rs 11.3 6.7 6.6 4.3 6.7 5.2 5.1 3.6 3.9
Net profit TTM Cr 326.5 292.1 274.7 257.7 256.3 263.2 262.7 275.7 281.6
Basic EPS TTM Rs 29.0 25.9 24.4 22.9 22.8 23.4 23.3 24.5 25.0
Quarterly Revenue Qtr Cr Analysis
Revenue Qtr Cr growth is higher than historical averages.
Quarterly Net Profit Qtr Cr Analysis
Net Profit Qtr Cr growth is higher than historical averages.
All values except ratios in INR(Crores)
IndicatorTTMMar-2018Mar-2017Mar-2016Mar-2015Mar-2014Mar-2013Mar-2012Mar-2011Mar-2010Graph
Total Revenue Annual Cr 4,212.1 3,971.8 3,866.3 4,461.6 4,808.2 4,366.5 4,763.9 5,374.6 4,935.5 3,193.1
Operating Expenses Annual Cr 3,888.5 3,496.5 3,389.9 3,963.2 4,227.4 3,892.9 4,183.7 4,720.1 4,317.3 2,759.2
Operating Profit Annual in Cr 323.6 371.4 373.8 388.6 470.0 409.2 507.1 583.9 535.1 302.8
Operating Profit Margin Annual % 9.35% 9.67% 8.71% 9.78% 9.37% 10.65% 10.86% 10.84% 9.48%
Total Expenses Annual Cr 3,568.7 3,458.9 4,024.7 4,311.2 3,959.6 4,248.3 4,773.6 4,362.8 2,801.1
EBIDT Annual Cr 471.7 475.4 476.4 498.4 580.9 473.5 580.1 654.4 618.2 433.9
EBIDT margin Annual % 11.97% 12.32% 11.17% 12.08% 10.84% 12.18% 12.18% 12.53% 13.59%
Other Income Annual Cr 125.8 104.0 102.7 109.8 110.8 64.3 73.0 70.5 83.1 131.0
Depreciation Cr 57.0 64.2 65.4 60.9 64.1 57.8 54.9 47.0 43.3 40.4
PAT Before ExtraOrdinary Items Annual Cr 238.3 144.8 305.5 335.9 253.0 350.0 406.9 382.4 256.3
Net Profit Annual Cr 275.3 238.3 144.8 305.5 335.9 253.0 350.0 406.9 382.4 141.4
Basic EPS Annual Rs 20.0 12.2 25.6 28.2 21.2 29.4 34.1 32.1 11.9
Annual Total Revenue Annual Cr Analysis
Total Revenue Annual Cr growth is higher than historical averages.
Average Total Revenue Annual Cr
1 Year:
3,971.85 Cr
3 Years:
4,099.93 Cr
5 Years:
4,294.89 Cr
7 Years:
4,516.13 Cr
Annual Net Profit Annual Cr Analysis
Net Profit Annual Cr growth is higher than historical averages.
Average Net Profit Annual Cr
1 Year:
238.25 Cr
3 Years:
229.53 Cr
5 Years:
255.5 Cr
7 Years:
290.62 Cr
Annual ROE Annual % Analysis
ROE Annual % is growing faster than historical averages.
Average ROE Annual %
1 Year:
9.28 %
3 Years:
9.19 %
5 Years:
10.97 %
7 Years:
14.14 %
IndicatorTTMMar-2019Mar-2018Mar-2017Mar-2016Mar-2015Mar-2014Mar-2013Mar-2012Mar-2011Graph
Total Revenue Annual Cr 5,973.2 6,123.1 4,581.3 4,597.1 5,267.4 5,516.4 5,171.4 5,576.6 6,174.2 5,393.6
Operating Expenses Annual Cr 5,515.7 5,515.7 4,063.9 4,050.1 4,715.8 4,932.0 4,662.6 5,001.5 5,499.3 4,761.6
Operating Profit Annual in Cr 457.4 457.4 400.9 433.0 429.1 463.6 437.3 490.2 591.9 537.5
Operating Profit Margin Annual % 7.47% 8.75% 9.42% 8.15% 8.4% 8.46% 8.79% 9.59% 9.96%
Total Expenses Annual Cr 5,622.1 4,159.2 4,141.7 4,800.3 5,148.1 4,782.1 5,095.1 5,577.7 4,820.2
EBIDT Annual Cr 517.8 607.3 517.3 547.0 551.5 584.5 508.9 575.0 674.9 632.1
EBIDT margin Annual % 9.92% 11.29% 11.9% 10.47% 10.59% 9.84% 10.31% 10.93% 11.72%
Other Income Annual Cr 149.9 149.9 116.4 114.0 122.4 120.9 71.6 84.8 83.0 94.6
Depreciation Cr 92.0 92.0 82.4 81.9 72.2 134.1 92.2 77.1 66.3 54.2
PAT Before ExtraOrdinary Items Annual Cr 326.5 256.3 281.6 323.2 148.1 219.8 304.1 392.1 376.9
Net Profit Annual Cr 326.5 326.5 256.3 281.6 323.2 148.1 219.8 304.1 392.1 376.9
Basic EPS Annual Rs 28.9 20.6 19.8 25.1 17.6 20.6 26.9 33.9 32.0
Annual Total Revenue Annual Cr Analysis
Total Revenue Annual Cr growth is higher than historical averages.
Average Total Revenue Annual Cr
1 Year:
6,123.05 Cr
3 Years:
5,100.48 Cr
5 Years:
5,217.05 Cr
7 Years:
5,261.89 Cr
Annual Net Profit Annual Cr Analysis
Net Profit Annual Cr growth is higher than historical averages.
Average Net Profit Annual Cr
1 Year:
326.5 Cr
3 Years:
288.13 Cr
5 Years:
267.14 Cr
7 Years:
265.64 Cr
Annual ROE Annual % Analysis
ROE Annual % is growing faster than historical averages.
Average ROE Annual %
1 Year:
8.54 %
3 Years:
8.62 %
5 Years:
9.46 %
7 Years:
10.93 %
All values except ratios in INR(Crores)
IndicatorMar-2018Mar-2017Mar-2016Mar-2015Mar-2014Mar-2013Mar-2012Mar-2011Mar-2010Graph
Book Value Per Share Annual Rs 215.3 202.2 208.7 190.2 170.0 156.9 134.4 108.5 88.2
RoA Annual % 4.43% 3.15% 6.16% 6.92% 5.21% 8.52% 10.24% 10.53% 4.5%
ROE Annual % 9.28% 6.01% 12.28% 14.81% 12.49% 18.72% 25.41% 29.59% 13.46%
ROCE Annual % 9.03% 5.84% 11.96% 14.51% 11.5% 18.07% 24.71% 28.89% 12.92%
Profitability Ratio
Liquidity Ratio
Valuation Ratio
Total Debt to Total Equity Annual 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 0.0
Annual Book Value Per Share Annual Rs Analysis
Book Value Per Share Annual Rs growth is stable compared to historical averages.
Average Book Value Per Share Annual Rs
1 Year:
215.32 Rs
3 Years:
208.77 Rs
5 Years:
197.3 Rs
7 Years:
182.54 Rs
Annual RoA Annual % Analysis
RoA Annual % is growing faster than historical averages.
Average RoA Annual %
1 Year:
4.43 %
3 Years:
4.58 %
5 Years:
5.17 %
7 Years:
6.38 %
IndicatorMar-2019Mar-2018Mar-2017Mar-2016Mar-2015Mar-2014Mar-2013Mar-2012Mar-2011Graph
Book Value Per Share Annual Rs 241.1 225.5 214.6 186.7 182.8 166.1 146.1 114.7
RoA Annual % 3.9% 4.4% 5.44% 3.59% 4.13% 6.44% 8.63% 9.3%
ROE Annual % 8.54% 8.78% 11.68% 9.77% 12.06% 17.13% 24.76% 29.02%
ROCE Annual % 8.09% 8.27% 11.0% 7.51% 8.35% 13.03% 21.07% 24.84%
Profitability Ratio
Liquidity Ratio
Valuation Ratio
Total Debt to Total Equity Annual 0.1 0.1 0.1 0.3 0.4 0.2 0.2 0.1
Annual Book Value Per Share Annual Rs Analysis
Book Value Per Share Annual Rs growth is higher than historical averages.
Average Book Value Per Share Annual Rs
1 Year:
241.1 Rs
3 Years:
235.89 Rs
5 Years:
221.79 Rs
7 Years:
208.26 Rs
Annual RoA Annual % Analysis
RoA Annual % is growing faster than historical averages.
Average RoA Annual %
1 Year:
3.9 %
3 Years:
4.07 %
5 Years:
4.25 %
7 Years:
4.54 %
All values except ratios in INR(Crores)
IndicatorMar-2018Mar-2017Mar-2016Mar-2015Mar-2014Mar-2013Mar-2012Mar-2011Mar-2010Graph
Total ShareHolders Funds Annual Cr 2,565.6 2,409.8 2,487.1 2,266.8 2,025.0 1,869.3 1,601.2 1,292.3 1,050.8
Minority Interest Liability Annual Cr
Total Non Current Liabilities Annual Cr 70.3 69.2 66.1 46.9 173.6 67.0 45.0 31.3 43.6
Total Current Liabilities Annual Cr 2,739.3 2,116.6 2,405.9 2,538.9 2,655.3 2,167.8 2,323.5 2,306.9 2,044.2
Total Capital Plus Liabilities Annual Cr 5,375.1 4,595.6 4,959.1 4,852.6 4,853.9 4,104.1 3,969.7 3,630.5 3,138.7
Fixed Assets Annual Cr 763.8 683.7 644.5 648.5 663.9 645.5 573.6 516.3 507.7
Total Non Current Assets Annual Cr 1,803.7 1,735.4 1,647.4 1,360.9 1,320.0 1,263.7 1,056.7 972.7 912.3
Total Current Assets Annual Cr 3,571.4 2,860.2 3,311.8 3,491.8 3,533.8 2,840.5 2,913.0 2,657.9 2,226.4
Total Assets Annual Cr 5,375.1 4,595.6 4,959.1 4,852.6 4,853.9 4,104.1 3,969.7 3,630.5 3,138.7
Contingent Liabilities plus Commitments Annual Cr 547.0 422.7 1,912.1 1,286.2 278.8 285.5 364.8 408.9 227.7
Bonus Equity Share Capital Annual Cr 3.4 3.4 3.4 3.4 3.4 3.4 3.4 3.4 3.4
Non Current Investments Unquoted BookValue Annual Cr 84.1 81.6 681.1 488.1 480.1 411.7 370.0 281.4 88.6
Current Investments Unquoted BookValue Annual Cr 1,156.5 764.7 838.7 0.0 367.3 183.7 131.3 89.0 0.0
Annual Long Term Debt To Equity Annual Analysis
Average Long Term Debt To Equity Annual
1 Year:
-
3 Years:
-
5 Years:
-
7 Years:
-
Annual Total Assets Annual Cr Analysis
Total Assets Annual Cr growth is higher than historical averages.
Average Total Assets Annual Cr
1 Year:
5,375.13 Cr
3 Years:
4,976.63 Cr
5 Years:
4,927.27 Cr
7 Years:
4,672.89 Cr
IndicatorMar-2019Mar-2018Mar-2017Mar-2016Mar-2015Mar-2014Mar-2013Mar-2012Mar-2011Graph
Total ShareHolders Funds Annual Cr 3,014.3 2,714.7 2,537.6 2,416.2 2,146.4 2,038.3 1,868.7 1,629.3 1,314.9
Minority Interest Liability Annual Cr 0.0 0.0 1.4 0.0 78.0 139.7 110.3 111.6 52.0
Total Non Current Liabilities Annual Cr 131.8 151.6 156.2 149.6 567.8 764.8 476.9 174.0 169.0
Total Current Liabilities Annual Cr 3,653.8 3,078.7 2,365.2 2,615.3 3,036.1 2,999.4 2,509.2 2,757.9 2,563.4
Total Capital Plus Liabilities Annual Cr 5,945.0