Thermax Ltd
Thermax Limited offers solutions to energy, environment and chemical sectors. The Company’s portfolio includes boilers and heaters, absorption chillers/ heat pumps, power plants, solar equipment, air pollution control equipment/system, water and waste recycle plant, ion exchange resins and performance chemicals and related services. #
- Market Cap ₹ 16,739 Cr.
- Current Price ₹ 1,405
- High / Low ₹ 1,459 / 570
- Stock P/E 97.6
- Book Value ₹ 256
- Dividend Yield 0.50 %
- ROCE 11.8 %
- ROE 6.93 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 30.14%
Cons
- Stock is trading at 5.48 times its book value
- The company has delivered a poor sales growth of 1.56% over past five years.
- Company has a low return on equity of 9.58% for last 3 years.
Peer comparison
Sector: Capital Goods-Non Electrical Equipment Industry: Engineering
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,443 | 1,035 | 1,428 | 1,437 | 2,074 | 1,392 | 1,606 | 1,410 | 1,323 | 665 | 1,141 | 1,411 | |
1,322 | 966 | 1,318 | 1,330 | 1,903 | 1,293 | 1,476 | 1,297 | 1,259 | 676 | 1,062 | 1,263 | |
Operating Profit | 121 | 69 | 110 | 107 | 170 | 99 | 130 | 113 | 64 | -11 | 79 | 148 |
OPM % | 8% | 7% | 8% | 7% | 8% | 7% | 8% | 8% | 5% | -2% | 7% | 10% |
Other Income | 45 | 31 | 36 | -56 | 50 | 22 | 22 | 26 | 31 | 21 | -2 | 0 |
Interest | 4 | 3 | 4 | 4 | 4 | 4 | 4 | 2 | 5 | 4 | 5 | 6 |
Depreciation | 24 | 21 | 23 | 23 | 25 | 26 | 28 | 32 | 31 | 28 | 29 | 29 |
Profit before tax | 138 | 76 | 118 | 24 | 192 | 90 | 120 | 105 | 59 | -22 | 44 | 113 |
Tax % | 45% | 36% | 37% | -214% | 34% | 30% | 79% | 19% | 33% | 32% | 29% | 26% |
Net Profit | 76 | 49 | 75 | 75 | 127 | 63 | 26 | 85 | 39 | -15 | 31 | 83 |
EPS in Rs | 6.35 | 4.11 | 6.25 | 6.30 | 10.65 | 5.27 | 2.16 | 7.13 | 3.28 | -1.28 | 2.62 | 6.99 |
Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,270 | 3,212 | 5,297 | 6,087 | 5,490 | 5,081 | 5,304 | 5,145 | 4,483 | 4,465 | 5,973 | 5,731 | 4,540 | |
2,896 | 2,900 | 4,749 | 5,485 | 4,990 | 4,633 | 4,878 | 4,712 | 4,049 | 4,088 | 5,516 | 5,325 | 4,261 | |
Operating Profit | 373 | 312 | 548 | 602 | 500 | 449 | 426 | 433 | 434 | 377 | 457 | 406 | 279 |
OPM % | 11% | 10% | 10% | 10% | 9% | 9% | 8% | 8% | 10% | 8% | 8% | 7% | 6% |
Other Income | 98 | 31 | 94 | 83 | 85 | 72 | 109 | 118 | 95 | 115 | 60 | 100 | 50 |
Interest | 11 | 13 | 15 | 22 | 26 | 39 | 82 | 12 | 10 | 13 | 14 | 15 | 19 |
Depreciation | 35 | 44 | 54 | 66 | 77 | 92 | 134 | 72 | 82 | 82 | 92 | 117 | 117 |
Profit before tax | 425 | 286 | 573 | 596 | 481 | 389 | 319 | 467 | 438 | 397 | 410 | 375 | 193 |
Tax % | 32% | 50% | 34% | 34% | 37% | 44% | 54% | 31% | 36% | 42% | 21% | 43% | |
Net Profit | 289 | 144 | 382 | 404 | 320 | 246 | 210 | 282 | 223 | 232 | 325 | 212 | 138 |
EPS in Rs | 24.25 | 12.11 | 32.03 | 33.86 | 26.87 | 20.64 | 17.60 | 23.69 | 18.72 | 19.48 | 27.31 | 17.83 | 11.61 |
Dividend Payout % | 21% | 41% | 28% | 21% | 26% | 29% | 40% | 24% | 30% | 29% | 24% | 37% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 2% |
3 Years: | 9% |
TTM: | -30% |
Compounded Profit Growth | |
---|---|
10 Years: | -2% |
5 Years: | -1% |
3 Years: | -4% |
TTM: | -43% |
Stock Price CAGR | |
---|---|
10 Years: | 9% |
5 Years: | 13% |
3 Years: | 6% |
1 Year: | 58% |
Return on Equity | |
---|---|
10 Years: | 13% |
5 Years: | 10% |
3 Years: | 10% |
Last Year: | 7% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
24 | 24 | 24 | 24 | 24 | 24 | 24 | 23 | 23 | 23 | 23 | 23 | 23 | |
Reserves | 967 | 1,054 | 1,291 | 1,606 | 1,845 | 2,014 | 2,123 | 2,394 | 2,515 | 2,692 | 2,992 | 3,005 | 3,031 |
Borrowings | 4 | 8 | 148 | 273 | 423 | 761 | 688 | 195 | 136 | 234 | 240 | 230 | 245 |
1,392 | 2,263 | 2,636 | 2,771 | 2,696 | 3,142 | 3,255 | 2,554 | 2,371 | 2,980 | 3,535 | 2,693 | 2,668 | |
Total Liabilities | 2,388 | 3,349 | 4,099 | 4,673 | 4,988 | 5,942 | 6,089 | 5,166 | 5,044 | 5,929 | 6,790 | 5,951 | 5,967 |
491 | 537 | 785 | 844 | 873 | 1,527 | 1,431 | 827 | 811 | 973 | 1,312 | 1,283 | 1,277 | |
CWIP | 18 | 11 | 35 | 247 | 517 | 54 | 43 | 60 | 141 | 103 | 40 | 56 | 32 |
Investments | 143 | 370 | 241 | 240 | 443 | 708 | 822 | 1,050 | 1,083 | 1,472 | 829 | 875 | 271 |
1,736 | 2,431 | 3,037 | 3,343 | 3,154 | 3,654 | 3,793 | 3,228 | 3,009 | 3,381 | 4,609 | 3,737 | 4,387 | |
Total Assets | 2,388 | 3,349 | 4,099 | 4,673 | 4,988 | 5,942 | 6,089 | 5,166 | 5,044 | 5,929 | 6,790 | 5,951 | 5,967 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
157 | 632 | 73 | 261 | 87 | 321 | 311 | 253 | 335 | 534 | -115 | 326 | |
266 | -263 | -95 | -234 | -498 | -382 | 80 | -127 | -99 | -507 | 266 | -140 | |
-112 | -69 | 40 | -18 | 35 | 191 | -351 | -112 | -126 | -20 | -65 | -232 | |
Net Cash Flow | 312 | 301 | 18 | 10 | -377 | 130 | 39 | 13 | 110 | 7 | 85 | -47 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROCE % | 49% | 40% | 46% | 36% | 24% | 16% | 15% | 18% | 18% | 15% | 17% | 12% |
Debtor Days | 64 | 91 | 70 | 82 | 103 | 105 | 122 | 95 | 84 | 102 | 84 | 88 |
Inventory Turnover | 4.89 | 3.61 | 5.31 | 5.15 | 6.19 | 7.84 | 6.87 | 7.69 | 8.01 | 7.37 | 7.75 | 6.50 |
Documents
Add documentRecent announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 17 Feb
- Announcement under Regulation 30 (LODR)-Investor Presentation 3 Feb
- Outcome Of The Board Meeting 3 Feb
- Outcome Of The Board Meeting 3 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1 Feb
View all
Annual reports
- Financial Year 2020 from bse
- Financial Year 2019 from bse
- Financial Year 2018 from bse
- Financial Year 2017 from bse
- Financial Year 2016 from bse
- Financial Year 2015 from bse
- Financial Year 2014 from bse
- Financial Year 2013 from bse
- Financial Year 2012 from bse
- Financial Year 2011 from bse
- Financial Year 2011 from nse
- Financial Year 2010 from bse
- Financial Year 2010 from nse