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    HomeNewsBusinessStocksThermax shares fall 2% in Wednesday's trading session

    Thermax shares fall 2% in Wednesday's trading session

    With the stock currently trading at Rs 3,485.70, Thermax has shown a decrease of 2% in today's session.

    Alpha Desk
    August 06, 2025 / 10:49 IST
    Disclaimer This is an AI-assisted live blog with updates from multiple sources Disclaimer
       
       
      26 Aug, 2025 12:21
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      Shares of Thermax declined by 2% to Rs 3,485.70 in Wednesday's trading session. The stock's movement reflected a decrease from its previous close. Thermax is a constituent of the NIFTY MIDCAP 150 index.

      Here's a look at the company's recent financial performance:

      Consolidated Financials:Income Statement:

      The following table presents the consolidated annual income statement for Thermax:

      Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021
      SalesRs 10,388 CroreRs 9,323 CroreRs 8,089 CroreRs 6,128 CroreRs 4,791 Crore
      Other IncomeRs 252 CroreRs 232 CroreRs 160 CroreRs 127 CroreRs 107 Crore
      Total IncomeRs 10,640 CroreRs 9,556 CroreRs 8,249 CroreRs 6,255 CroreRs 4,898 Crore
      Total ExpenditureRs 9,639 CroreRs 8,598 CroreRs 7,609 CroreRs 5,820 CroreRs 4,603 Crore
      EBITRs 1,001 CroreRs 957 CroreRs 640 CroreRs 435 CroreRs 295 Crore
      InterestRs 116 CroreRs 87 CroreRs 37 CroreRs 25 CroreRs 20 Crore
      TaxRs 257 CroreRs 225 CroreRs 152 CroreRs 97 CroreRs 68 Crore
      Net ProfitRs 626 CroreRs 644 CroreRs 450 CroreRs 312 CroreRs 206 Crore

      The company's sales increased from Rs 9,323 Crore in March 2024 to Rs 10,388 Crore in March 2025. Total expenditure also increased from Rs 8,598 Crore to Rs 9,639 Crore during the same period. The net profit saw a slight decrease from Rs 644 Crore in March 2024 to Rs 626 Crore in March 2025.

      Quarterly Financials:

      The following table presents the consolidated quarterly income statement:

      Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024
      SalesRs 2,150 CroreRs 3,084 CroreRs 2,507 CroreRs 2,611 CroreRs 2,184 Crore
      Other IncomeRs 65 CroreRs 76 CroreRs 31 CroreRs 59 CroreRs 84 Crore
      Total IncomeRs 2,215 CroreRs 3,161 CroreRs 2,539 CroreRs 2,671 CroreRs 2,268 Crore
      Total ExpenditureRs 1,973 CroreRs 2,830 CroreRs 2,353 CroreRs 2,375 CroreRs 2,079 Crore
      EBITRs 241 CroreRs 331 CroreRs 185 CroreRs 295 CroreRs 189 Crore
      InterestRs 30 CroreRs 31 CroreRs 28 CroreRs 29 CroreRs 27 Crore
      TaxRs 60 CroreRs 95 CroreRs 42 CroreRs 68 CroreRs 51 Crore
      Net ProfitRs 151 CroreRs 204 CroreRs 114 CroreRs 198 CroreRs 109 Crore

      The revenue for the quarter ending June 2025 was Rs 2,150.18 Crore, slightly lower than the Rs 2,184.41 Crore in June 2024. Net profit for the same period increased to Rs 151.63 Crore, compared to Rs 109.84 Crore in the previous year.

      Cash Flow:

      The following table provides an overview of the consolidated cash flow statement:

      Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021
      Operating ActivitiesRs 1,042 CroreRs 247 CroreRs 459 CroreRs 324 CroreRs 769 Crore
      Investing ActivitiesRs -1,240 CroreRs -509 CroreRs -679 CroreRs -421 CroreRs -635 Crore
      Financing ActivitiesRs 123 CroreRs 285 CroreRs 348 CroreRs -20 CroreRs 77 Crore
      OthersRs 20 CroreRs -4 CroreRs 15 CroreRs 2 CroreRs 8 Crore
      Net Cash FlowRs -53 CroreRs 19 CroreRs 144 CroreRs -115 CroreRs 219 Crore
      Balance Sheet:

      The following table summarizes key elements of the consolidated balance sheet:

      Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021
      Share CapitalRs 22 CroreRs 22 CroreRs 22 CroreRs 22 CroreRs 22 Crore
      Reserves & SurplusRs 4,914 CroreRs 4,417 CroreRs 3,845 CroreRs 3,469 CroreRs 3,228 Crore
      Current LiabilitiesRs 5,635 CroreRs 4,725 CroreRs 4,409 CroreRs 3,758 CroreRs 3,070 Crore
      Other LiabilitiesRs 1,466 CroreRs 987 CroreRs 561 CroreRs 210 CroreRs 184 Crore
      Total LiabilitiesRs 12,038 CroreRs 10,153 CroreRs 8,838 CroreRs 7,461 CroreRs 6,506 Crore
      Fixed AssetsRs 3,288 CroreRs 2,427 CroreRs 1,678 CroreRs 1,236 CroreRs 1,263 Crore
      Current AssetsRs 7,321 CroreRs 6,448 CroreRs 6,080 CroreRs 4,737 CroreRs 4,466 Crore
      Other AssetsRs 1,427 CroreRs 1,277 CroreRs 1,079 CroreRs 1,487 CroreRs 777 Crore
      Total AssetsRs 12,038 CroreRs 10,153 CroreRs 8,838 CroreRs 7,461 CroreRs 6,506 Crore
      Contingent LiabilitiesRs 728 CroreRs 1,086 CroreRs 956 CroreRs 529 CroreRs 1,806 Crore
      Key Financial Ratios:

      Key financial ratios for Thermax are as follows. The company reported a debt-to-equity ratio of 0.34 as of the year-ending March 2025.

      Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021
      Basic EPS (Rs.)56.3357.3039.9827.7318.34
      Diluted Eps (Rs.)56.3157.2839.9827.7318.34
      Book Value [Excl. Reval Reserve]/Share (Rs.)438.25394.30343.71310.17288.76
      Dividend/Share (Rs.)14.0012.0010.009.007.00
      Face Value22222
      Gross Profit Margin (%)11.1611.049.368.949.66
      Operating Margin (%)9.649.457.927.107.27
      Net Profit Margin (%)6.036.905.575.094.31
      Return on Networth / Equity (%)12.8514.5311.648.946.35
      ROCE (%)15.6416.2414.4611.7510.13
      Return On Assets (%)5.276.355.094.183.17
      Current Ratio (X)1.301.361.381.261.45
      Quick Ratio (X)1.171.201.211.071.32
      Debt to Equity (x)0.340.280.210.100.09
      Interest Coverage Ratios (X)9.9311.7620.1621.7922.43
      Asset Turnover Ratio (%)0.940.980.990.670.57
      Inventory Turnover Ratio (X)13.816.705.996.044.66
      3 Yr CAGR Sales (%)30.2039.5018.811.293.59
      3 Yr CAGR Net Profit (%)41.7176.5645.69-2.22-10.22
      P/E (x)64.8773.1657.3569.9373.26
      P/B (x)8.3410.646.676.264.66
      EV/EBITDA (x)35.9546.1433.6138.8029.21
      P/S (x)3.965.073.193.573.16

      Thermax Limited informed the exchanges about the transcript of earnings call held on Friday August 1, 2025. Also, shareholders approved appointment of Secretarial Auditors and Auditors at the Annual General Meeting held on July 31, 2025.

      The company has announced Final dividends in the past. The dividend announced on May 9, 2025, was Rs 14 per share and effective from July 4, 2025.

      The stock split with old FV of 10 and new FV of 2 on March 31, 2006.

      With the stock currently trading at Rs 3,485.70, Thermax has shown a decrease of 2% in today's session.

      Alpha Desk
      first published: Aug 6, 2025 10:49 am

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