Thermax Ltd. | Large-cap | Industrials
₹3,459.30
-0.53%
| Thermax Stock Comparison:
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Overview Income Statement Balance Sheet Cash Flow Key Ratios

Financial Overview

Latest Annual: 2025

Income Metrics

Revenue 103.9B
Gross Profit 45.8B 44.04%
Operating Income 7.5B 7.21%
Net Income 6.3B 6.03%
EPS (Diluted) ₹56.31

Balance Sheet Metrics

Total Assets 120.4B
Total Liabilities 71.0B
Shareholders Equity 49.4B
Debt to Equity 1.44

Cash Flow Metrics

Operating Cash Flow 9.0B
Free Cash Flow 1.4B

Revenue & Profitability Trend

Thermax Income Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Revenue 103.9B 92.4B 80.3B 60.6B 47.1B
Cost of Goods Sold 58.1B 55.5B 49.5B 37.3B 27.2B
Gross Profit 45.8B 36.9B 30.9B 23.3B 19.9B
Operating Expenses 24.0B 7.1B 6.3B 5.0B 3.9B
Operating Income 7.5B 6.2B 4.9B 2.8B 2.2B
Pre-tax Income 8.8B 8.7B 6.0B 4.1B 2.8B
Income Tax 2.6B 2.3B 1.5B 977.9M 686.1M
Net Income 6.3B 6.4B 4.5B 3.1B 2.1B
EPS (Diluted) ₹56.31 ₹57.28 ₹39.97 ₹27.73 ₹18.34

Income Statement Trend

Thermax Balance Sheet From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Assets
Current Assets 73.2B 64.5B 60.8B 47.4B 44.7B
Non-Current Assets 47.2B 37.0B 27.6B 27.2B 20.4B
Total Assets 120.4B 101.5B 88.4B 74.6B 65.1B
Liabilities
Current Liabilities 56.4B 47.3B 44.1B 37.6B 30.7B
Non-Current Liabilities 14.6B 9.9B 5.6B 2.1B 1.8B
Total Liabilities 71.0B 57.1B 49.7B 39.7B 32.6B
Equity
Total Shareholders Equity 49.4B 44.4B 38.7B 34.9B 32.5B

Balance Sheet Composition

Thermax Cash Flow Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Operating Activities
Net Income 8.8B 8.7B 6.0B 4.1B 2.8B
Operating Cash Flow 9.0B 3.4B 4.7B 212.7M 4.9B
Investing Activities
Capital Expenditures -9.0B -7.2B -6.5B -837.8M -833.7M
Investing Cash Flow -13.0B -6.0B -7.5B -5.1B -116.0M
Financing Activities
Dividends Paid -1.4B -1.1B -1.0B -788.3M -
Financing Cash Flow 3.1B 3.8B 3.8B -788.3M -
Free Cash Flow 1.4B -6.0B -2.0B 2.4B 6.9B

Cash Flow Trend

Thermax Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 62.89
Forward P/E 44.18
Price to Book 8.10
Price to Sales 3.85
PEG Ratio 44.18

Profitability Ratios

Profit Margin 6.11%
Operating Margin 8.24%
Return on Equity 13.36%
Return on Assets 4.22%

Financial Health

Current Ratio 1.30
Debt to Equity 34.75
Beta 0.19

Per Share Data

EPS (TTM) ₹56.46
Book Value per Share ₹438.42
Revenue per Share ₹922.34

Financial data is updated regularly. All figures are in the company's reporting currency.