NSE: THERMAX | BSE: 500411

Mid-range Performer

Download real time

3444.20 -20.80 (-0.60%)

39.78% Fall from 52W High

67,322 NSE+BSE Volume

NSE 14 Jul, 2025 3:31 PM (IST)

41,039.8

Market Cap

High in industry

1.0

Beta 1Year

Average volatility

Thermax Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for THERMAX, BSE:500411 Thermax Ltd.

Thermax Ltd.

15 Nov 2022

3444.20

-0.60%

Healthy execution; profitability improves

Accumulate: Thermax Ltd.

Recommendation Target

ICICI Securities Limited

Thermax delivered strong performance in Q2FY23 with ~41% YoY revenue growth to Rs20.8bn (I-Sec: Rs18.2bn) led by pick-up in execution in all its three business segments.

Thermax Ltd. has an average target of 3977.80 from 5 brokers.

Thermax Ltd.

14 Nov 2022, 12:00AM

3444.20

-0.60%

THERMAX LTD

Accumulate: Thermax Ltd.

Target

Prabhudas Lilladhar

Number of FII/FPI investors decreased from 542 to 521 in Mar 2025 qtr

Thermax Ltd.

01 Sep 2022

3444.20

-0.60%

THERMAX LTD

Sell: Thermax Ltd.

Target

Geojit BNP Paribas

Number of FII/FPI investors decreased from 542 to 521 in Mar 2025 qtr

Thermax Ltd.

03 Aug 2022

3444.20

-0.60%

Thermax Limited

Buy: Thermax Ltd.

Target

ICICI Direct

Thermax Ltd. has lost -34.42% in the last 1 Year

Thermax Ltd.

03 Aug 2022

3444.20

-0.60%

THERMAX LTD

Accumulate: Thermax Ltd.

Target

Prabhudas Lilladhar

Thermax Ltd. is trading above its 100 day SMA of 3397.8

Thermax Ltd.

23 May 2022

3444.20

-0.60%

THERMAX LTD

Accumulate: Thermax Ltd.

Target

Prabhudas Lilladhar

Thermax Ltd. has an average target of 3977.80 from 5 brokers.

Thermax Ltd.

23 May 2022

3444.20

-0.60%

Thermax Limited

Buy: Thermax Ltd.

ICICI Direct

Thermax Ltd. is trading above its 100 day SMA of 3397.8

Thermax Ltd.

11 Feb 2022

3444.20

-0.60%

THERMAX LTD

Sell: Thermax Ltd.

Recommendation Target

Geojit BNP Paribas

EBITDA margin declined by 346bps YoY to 7% due to higher commodity prices and an increase in other expenses. The company expects margin pressure is likely to sustain as recent FGD orders were booked after 9 months delay and difficulty in price hike due to high competition in chemical business. The current premium valuation and headwinds on margins, implying limited room for further upside in the near term. Therefore, we revise our rating to SELL from Accumulate and value TMX at a P/E of 35x on FY24E EPS with a TP of Rs1,700....

Thermax Ltd. is trading above its 100 day SMA of 3397.8

Thermax Ltd.

08 Feb 2022

3444.20

-0.60%

THERMAX LTD

Accumulate: Thermax Ltd.

Target

Prabhudas Lilladhar

Thermax Ltd. (TMX) reported a healthy revenue growth of 14.5% YoY, led by growth across all segment, while profitability was impacted due to higher commodity price and freight cost. Order inflow grew 57% YoY to Rs24.6bn, including FGD orders worth Rs8bn in Q3FY22. Order book stands strong at...

Thermax Ltd. has lost -34.42% in the last 1 Year

Is Thermax Ltd. worth buying?

90 Votes:

Buy 78.89%

Sell 12.22%

Hold 8.89%

RESEARCH REPORTS

Accumulate SEE REPORTS >

pdf

Sell SEE REPORTS >

pdf