Thermax Ltd.
THERMAX · NSE · Industrials
With a 20% margin of safety, our buy-below price is ₹2,678.77.
Piotroski F-score 4/9 — quality of earnings & balance sheet.
Investability checklist
- ✕ROE above 15%13.7%
- ✓Low debt (D/E < 0.5)0.42x
- ✕Positive free cash flow
- ✓Revenue growth > 10%11%
- ✓Earnings growing19%
- ✕Net margin ≥ 10%6.7%
- ✕Current ratio > 1.51.22
- ✕Below our fair value
- ✕Margin of safety ≥ 20%
- ✓Above 200-day average
- ✓Above 50-day average
- –Positive 1-year return
- ✓Altman Z in safe zoneZ 5.52
- ✕Piotroski ≥ 74/9
1-year price
EOD · 2026-06-15Our scores
Key fundamentals
SWOT snapshot
Strengths
- •Financially solid — Altman Z 5.52.
Opportunities
- •Earnings growing (19% YoY).
Threats
- •Trades ~29% above our estimated fair value.
About Thermax Ltd.
Thermax Limited provides energy, environmental, and chemical solutions in India and internationally. It operates in Industrial Products, Industrial Infra, Green Solutions, and Chemical segments. The Industrial Products segment offers manufacturing, installation, sales and services related to boilers and heating equipment, absorption chillers/heat pumps, air pollution control equipment/ systems, water & waste recycling, including associated services and engineering, procuremen
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Our verdict, fair value, financial-health and checklist are StocksWizard's own estimates, computed from public end-of-day data using standard models (DCF, relative valuation, Altman Z, Piotroski). For information only — not investment advice or a recommendation. Verify independently before investing.