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Thermax Ltd

Updated on July 7, 2020

Stock/Share Code - THERMAX

Thermax 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...show more

Below is the details of THERMAX Thermax Ltd

Market Cap₹8,469 Cr.
Current Price ₹783.95 as on 13 Jul 20
52 Week High / Low Price₹1,181.25 / ₹570
Face Value₹2
Stock P/E28.44
Book Value₹229.96
Dividend Yield0.98 %
ROCE16.07 %
ROE11.70 %
Sales Growth (3yrs)-6.54 %
SectorCapital Goods-Non Electrical Equipment
IndustryEngineering
Listed onBSE  AND  NSE
Company WebsiteCompany Website
Pros: Company has reduced debt. Company is virtually debt free. Company has been maintaining a healthy dividend payout of 36.56% Debtor days have improved from 110.46 to 86.26 days.
Cons: The company has delivered a poor growth of -3.73% over past five years. Company has a low return on equity of 10.38% for last 3 years. Earnings include an other income of Rs.179.48 Cr.

Thermax Ltd Price Chart

Thermax Ltd Price Chart

Thermax Ltd Peer Comparison in Capital Goods-Non Electrical Equipment

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Qtr Sales Var % Sales Qtr Rs.Cr. ROCE %
1. Hind.Aeronautics ₹929.5 6.78 ₹18,596.96 Cr. 5.98 ₹460.67 Cr. -0.17 0.70 4456.35 29.74
2. Thermax 28.44 ₹8,469.03 Cr. 0.98 ₹58.04 Cr. -3.06 0.33 849.63 16.07
3. GMM Pfaudler ₹4,168.5 78.26 ₹5,566.42 Cr. 0.12 ₹11.6 Cr. -12.78 -5.28 131.78 28.72
4. Bharat Dynamics ₹398.35 12.33 ₹4,307.11 Cr. 2.94 ₹53.18 Cr. -71.76 -50.98 508.76 31.60
5. BEML Ltd ₹639.85 57.97 ₹2,419.49 Cr. 1.20 ₹4.24 Cr. -90.82 -24.76 692.85 7.25
6. ISGEC Heavy ₹42.6 9.41 ₹1,613.97 Cr. 0.91 ₹58.72 Cr. 99.05 22.96 1685.37 15.24
7. Kennametal India ₹761.1 23.26 ₹1,554.52 Cr. 0.28 ₹9.7 Cr. -28.18 -21.61 183.90
8. Praj Inds. ₹66.25 15.11 ₹1,064.17 Cr. 4.65 ₹24.86 Cr. -25.48 -19.52 296.29 10.59

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Thermax Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019
Sales -1,3437138646588946087588471,328788838850
YOY Sales Growth %3.94%-9.86%2.19%-16.10%-33.42%-14.74%-12.21%28.62%48.49%29.51%10.53%0.33%
Expenses -1,1916707785958075737247781,215755775780
Material Cost %59%52%56%54%58%54%60%61%68%61%58%57%
Employee Cost %10%16%13%14%10%15%13%12%8%13%13%13%
Operating Profit15243866487353469112336470
OPM %11%6%10%10%10%6%4%8%8%4%8%8%
Other Income-1012222375140711960435125
Interest204111112112
Depreciation161515131413121212141616
Profit before tax33508987123609175158619877
Tax %150%35%36%27%30%26%24%36%29%19%34%24%
Net Profit-1732576386456948113506558
EPS in Rs-1.402.724.775.317.193.775.824.059.474.195.444.88
NotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019TTM
Sales -3,1573,0753,0444,8505,3004,6894,2834,6034,3383,7642,7273,5413,803
Sales Growth %52.72%-2.62%-0.98%59.32%9.27%-11.53%-8.65%7.46%-5.75%-13.25%-27.53%29.83%
Expenses -2,7902,7072,7484,3064,7074,1733,8644,1383,9603,3892,4883,2893,525
Material Cost %69%64%66%70%69%68%65%60%59%55%57%62%
Manufacturing Cost %4%5%6%5%5%4%7%10%11%13%13%11%
Employee Cost %8%8%10%8%7%9%10%10%10%12%13%11%
Other Cost %7%11%9%6%7%9%9%10%11%10%8%8%
Operating Profit367368297545593516419464378375240252279
OPM %12%12%10%11%11%11%10%10%9%10%9%7%7%
Other Income91933283707364117110-31151188179
Interest71011111518192054455
Depreciation22324043475558646165495058
Profit before tax430419277573601516407497423275337384394
Tax %35%31%49%33%32%32%38%32%30%47%29%28%
Net Profit281287141382407350253336297145238275286
EPS in Rs22.2123.2611.0430.6433.0128.1820.2126.7724.9712.1620.0023.1023.98
Dividend Payout %34%21%42%28%20%24%28%25%24%49%30%30%

Compounded Sales Growth

  • 10 Years:: 1.42%
  • 5 Years:: -3.73%
  • 3 Years:: -6.54%
  • TTM:: 22.39%

Compounded Profit Growth

  • 10 Years:: 0.92%
  • 5 Years:: 5.30%
  • 3 Years:: 1.16%
  • TTM:: 9.52%

Return on Equity

  • 10 Years:: 0.33%
  • 5 Years:: -6.19%
  • 3 Years:: -10.08%
  • 1 Year:: -30.32%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Sep 2019
Share Capital -24242424242424242424242424
Equity Capital23.8323.8323.8323.8323.8323.8323.8323.8323.8323.8323.8323.83
Reserves7129381,0271,2691,5771,8452,0012,2432,3182,3862,5422,7122,716
Borrowings000481661218910591661164041
Other Liabilities -1,1791,3042,0612,2902,2022,2452,6402,6392,2592,1202,6933,3632,844
Trade Payables429397730783783828792872826925943799617
Advance from Customers4475891,0089497046529088865705641,155551
Other liability items3033183245587157659408828626315952,0132,227
Total Liabilities1,9152,2663,1123,6313,9704,1274,8545,0114,6924,5965,3756,1395,625
Fixed Assets -279440494487532555640609584555671713748
Gross Block4196036887178058731,0081,0391,0591,0901,2591,171
Accumulated Depreciation141163195231273319368430475536588458
CWIP481811304291243959129922954
Investments5801763784045538041,0961,2571,3781,4041,7961,4241,394
Other Assets -1,0091,6322,2292,7102,8432,6773,0943,1052,6722,5072,8163,9723,429
Inventories255493523639630210253316225229298230236
Trade receivables5055417479611,2461,4241,3521,5391,2259551,139837771
Cash Equivalents2835760659657022332025717871119119148
Loans n Advances2372593803452996331,0317558341,0251,0602,68616
Other asset items-16-18-26169991871382382092281991002,258
Total Assets1,9152,2663,1123,6313,9704,1274,8545,0114,6924,5965,3756,1395,625

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Cash from Operating Activity -14114858353175207331294288346507-117
Profit from operations431435412566605528451562499462408492
Receivables-30877138-379-426-280293-25293172-175-166
Inventory6-6720-363142-43-6194-4-70-170
Payables157-262032854920-43-36312517351
Loans Advances00000002520000
Direct taxes-142-139-135-180-168-203-186-120-152-134-154-173
Other operating items0-132-38-471120-141-51-249-276480-452
Exceptional CF items-40-18-15600000000
Cash from Investing Activity --138280-247-40-188-293-304-16-170-151-456254
Fixed assets purchased-180-165-89-57-108-123-76-49-57-107-145-125
Fixed assets sold000000000000
Capital WIP051000000000
Investments purchased-1,224-736-621-829-1,054-1,203-1,990-1,928-1180-3210
Investments sold1,2561,1554349961,0021,0071,7891,8100620593
Interest received382941446100365424412
Dividends received000006839190000
Invest in subsidiaries-30-10-15-193-89-43-68-8-133-22200
Loans to subsidiaries-000-00-000-14-170-6
Investment in group cos0000000000-27-191
Other investing items2110-0001049810931-28
Cash from Financing Activity --38-115-71-23-12-26271-237-119-115-38-51
Proceeds from borrowings000481180000000
Repayment of borrowings00000-1540-1340000
Interest paid fin-1-3-2-2-6-11-9-20-5-4-2-4
Dividends paid-36-111-70-69-125-97-98-84-100-86-86-84
Other financing items-0-0-0-0-0-01770-14-255037
Net Cash Flow-35313265-10-26-3479841-1801287

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Ratios

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
ROCE %66%50%40%49%39%29%20%21%18%17%14%16%
Debtor Days58649072861111151221039315286
Inventory Turnover11.898.215.998.358.3511.1618.5016.1816.0516.6010.3513.39

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Disclaimer:
All efforts have been made to ensure the information provided here is accurate as per time to time filling by company to exchanges. However, no guarantees are made regarding correctness of data. Investors are advised to validate/check information with exchanges or companies website before making any investment decisions.