ScoreWhy is Thermax Ltd. ?
1
Poor long term growth as Net Sales has grown by an annual rate of 9.20% over the last 5 years
2
Flat results in Dec 24
- DEBT-EQUITY RATIO(HY) Highest at 0.32 times
- PAT(Q) At Rs 115.90 cr has Fallen at -18.2 %
- CASH AND CASH EQUIVALENTS(HY) Lowest at Rs 766.76 cr
3
Stock is technically in a Bearish range
- The technical trend has deteriorated from Mildly Bearish on 07-Apr-25 and has generated -4.86% returns since then
- The stocks Bollinger Band and KST technical factors are also Bearish
4
With ROE of 14, it has a Expensive valuation with a 7.9 Price to Book Value
- The stock is trading at a discount compared to its peers' average historical valuations
- Over the past year, while the stock has generated a return of -31.84%, its profits have risen by 13.1% ; the PEG ratio of the company is 4.5
5
Underperformed the market in the last 1 year
- Even though the market (BSE 500) generated negative returns of -1.00% in the last 1 year, its fall in the stock was much higher with a return of -31.84%
Real-Time Research ReportHow much should you sell?
- All quantity irrespective of whether you are making profits or losses
(If sector exposure > 30%, please use optimiser tool to see which are the best stocks to hold in Engineering - Industrial Equipments)
When to re-enter? - We will constantly monitor the company and review our call based on new data
Is Thermax for you?
High Risk, Low Return
Absolute
Risk Adjusted
Volatility
Thermax
-31.91%
-0.74
43.05%
SENSEX
0.45%
0.03
14.48%
Quality
Management Risk
Growth
Capital StructureQuality key factors
Factor
Value
Sales Growth (5y)
9.20%
EBIT Growth (5y)
12.26%
EBIT to Interest (avg)
9.97
Debt to EBITDA (avg)
1.12
Net Debt to Equity (avg)
0
Sales to Capital Employed (avg)
1.61
Tax Ratio
27.07%
Dividend Payout Ratio
20.94%
Pledged Shares
0
Institutional Holding
28.15%
ROCE (avg)
17.54%
ROE (avg)
10.53%
ValuationValuation Key Factors 
Factor
Value
P/E Ratio
59
Industry P/E
34
Price to Book Value
7.92
EV to EBIT
49.66
EV to EBITDA
40.47
EV to Capital Employed
9.66
EV to Sales
3.54
PEG Ratio
4.52
Dividend Yield
0.39%
ROCE (Latest)
19.40%
ROE (Latest)
13.96%
Loading Valuation Snapshot...
TechnicalsTechnical key factors
Indicator
Weekly
Monthly
MACD
Mildly Bullish
Mildly Bearish
RSI
Bullish
No Signal
Bollinger Bands
Bearish
Bearish
Moving Averages
Bearish (Daily)
KST
Bearish
Mildly Bearish
Dow Theory
Mildly Bearish
Mildly Bearish
OBV
Mildly Bullish
No Trend
Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned 
Financial Trend3What is working for the Company
ROCE(HY)
Highest at 15.96 %
-7What is not working for the Company
DEBT-EQUITY RATIO(HY)
Highest at 0.32 times
PAT(Q)
At Rs 115.90 cr has Fallen at -18.2 %
CASH AND CASH EQUIVALENTS(HY)
Lowest at Rs 766.76 cr
Loading Valuation Snapshot...
Here's what is not working for Thermax
Profit After Tax (PAT) - Quarterly
At Rs 115.90 cr has Fallen at -18.2 %
Year on Year (YoY)MOJO Watch
Near term PAT trend is very negative
PAT (Rs Cr)
Debt-Equity Ratio - Half Yearly
Highest at 0.32 times and Grown
each half year in the last five half yearly periodsMOJO Watch
The company is borrowing more to fund its operations; it's liquidity situation may be stressed
Debt-Equity Ratio
Cash and Cash Equivalents - Half Yearly
Lowest at Rs 766.76 cr
in the last six half yearly periodsMOJO Watch
Short Term liquidity is deteriorating
Cash and Cash Equivalents
InfinHub Market Technologies FZ-LLC, Building-2, Unit 112, Dubai Internet City, Dubai, United Arab Emirates
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