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Thermax Limited

ISIN : INE152A01029
NSE : THERMAX
BSE : 500411
Face Value : 2
Industry : Engineering - Industrial Equipments

EPS : 57.28
EPS (TTM) : 62.33
Price to Earning (P/E) : 63.79
Book Value : 393.77
Price to Bookvalue (P/B) : 9.28
Dividend Yield : 0 %
Return on Equity (ROE) : 15.50 %
Return on Capital Employed (ROCE) : 18.44 %

Thermax Limited share price (02-Apr-2026)
National Stock Exchange NSE
Open / Close	0 - 0 NAN %
Low / High	0 - 0 NAN %
Trade Volume	0
52 Week Low / High	0 - 0 NAN %
Bombay Stock Exchange BSE
Open / Close	3282 - 3294.5 0.4 %
Low / High	3210 - 3332.7 3.8 %
Trade Volume	27,251
52 Week Low / High	2744.2 - 4088 49 %

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Consolidated Standalone

CONSOLIDATED QUARTERLY RESULT FOR THERMAX LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	19919.2	16544.8	20752.6	20492.5	23108.2	19329.6	23024.6	23243.6	27636.8	21844.1
Total Income	20276.2	16750.2	21150.9	20915.7	23683.1	19860.2	23683.2	23827.6	28189.3	22685
Total Expenditure	18567	15584.5	19347.1	18881.7	21109.2	18007.6	20978.4	21369.4	24905.3	20432.6
Other Income	357	205.4	398.3	423.2	574.9	530.6	658.6	584	552.5	840.9
Operating Profit	1709.2	1165.7	1803.8	2034	2573.9	1852.6	2704.8	2458.2	3284	2252.4
Interest	100.8	65.7	79.8	91.2	139.2	133.7	198	266.1	278.1	274.8
Exceptional Items						-506.3		1261.2
PBDT	1608.4	1100	1724	1942.8	2434.7	1212.6	2506.8	3453.3	3005.9	1977.6
Depreciation	294.6	285.5	298	290.7	294.4	294	329.6	358.4	498.8	360.3
Profit Before Tax	1313.8	814.5	1426	1652.1	2140.3	918.6	2177.2	3094.9	2507.1	1617.3
Tax	289.7	224.3	332.4	385.5	581.4	315.2	588.7	721	632.8	518.9
Profit After Tax	1024.1	590.2	1093.6	1266.6	1558.9	603.4	1588.5	2373.9	1874.3	1098.4
Net Profit	1024.1	590.2	1093.6	1266.6	1558.9	603.4	1588.5	2373.9	1874.3	1098.4
Equity Capital	225.2	225.2	225.2	225.2	225.2	225.2	225.2	225.2	225.2	225.2
Face Value (IN RS)	2	2	2	2	2	2	2	2	2	2
Calculated EPS	9.11	5.24	9.69	11.21	13.85	5.23	14.01	21.17	16.9	10.29
Diluted Eps After Extraordinary Items	9.1	5.23	9.7	11.2	13.85	5.23	14	21.17	16.88	10.28
Diluted Eps Before Extraordinary Items	9.1	5.23	9.7	11.2	13.85	5.23	14	21.17	16.88	10.28

STANDALONE QUARTERLY RESULT FOR THERMAX LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	12812	9470	13734.2	13307.3	14900.1	11606.1	14439	14797.8	17376.4	13109.5
Total Income	13195.1	9627.4	14110.3	13677.7	15359.6	12097.6	15016.9	15144.8	17894.9	13794.8
Total Expenditure	12100.3	9097.5	12739.7	12324.7	13442.9	10768.7	13025.3	13587.7	16026.9	12385.4
Other Income	383.1	157.4	376.1	370.4	459.5	491.5	577.9	347	518.5	685.3
Operating Profit	1094.8	529.9	1370.6	1353	1916.7	1328.9	1991.6	1557.1	1868	1409.4
Interest	61.1	35.9	45.6	45.9	68.4	53.2	56.1	61.6	67.5	59.7
Exceptional Items					72	-506.3	-734.1	1261.2
PBDT	1033.7	494	1325	1307.1	1920.3	769.4	1201.4	2756.7	1800.5	1349.7
Depreciation	178.6	178.5	184.5	186.8	181.7	175.3	177.5	179.8	194.8	187.9
Profit Before Tax	855.1	315.5	1140.5	1120.3	1738.6	594.1	1023.9	2576.9	1605.7	1161.8
Tax	143.6	70.6	214.4	220.2	517.1	155.3	380	570.7	320.2	302
Profit After Tax	711.5	244.9	926.1	900.1	1221.5	438.8	643.9	2006.2	1285.5	859.8
Net Profit	711.5	244.9	926.1	900.1	1221.5	438.8	643.9	2006.2	1285.5	859.8
Equity Capital	238.3	238.3	238.3	238.3	238.3	238.3	238.3	238.3	238.3	238.3
Face Value (IN RS)	2	2	2	2	2	2	2	2	2	2
Calculated EPS	5.97	2.06	7.77	7.55	10.25	3.68	5.4	16.84	10.79	7.22
Diluted Eps After Extraordinary Items	5.97	2.06	7.77	7.55	10.25	3.68	5.41	16.84	10.79	7.22
Diluted Eps Before Extraordinary Items	5.97	2.06	7.77	7.55	10.25	3.68	5.41	16.84	10.79	7.22

Consolidated Standalone

CONSOLIDATED ANNUAL RESULT FOR THERMAX LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	61283.3	80898.1	93234.6
Total Income	62553.4	82499.9	95560.3
Total Expenditure	57069.6	74922.5	85260.7
Other Income	1270.1	1601.8	2325.7
Operating Profit	5483.8	7577.4	10299.6
Interest	251.7	375.9	875.9
Exceptional Items			754.9
PBDT	5232.1	7201.5	10178.6
Depreciation	1132.4	1168.6	1480.8
Profit Before Tax	4099.7	6032.9	8697.8
Tax	977.9	1523.6	2257.7
Profit After Tax	3121.8	4509.3	6440.1
Net Profit	3121.8	4509.3	6440.1
Equity Capital	225.2	225.2	225.2
Face Value (IN RS)	2	2	2
Reserves	34699.7	38455.5	44172.8
Calculated EPS	27.74	39.99	57.31
Diluted Eps After Extraordinary Items	27.73	39.98	57.28
Diluted Eps Before Extraordinary Items	27.73	39.98	57.28

STANDALONE ANNUAL RESULT FOR THERMAX LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	40153.9	51411.6	58219.3
Total Income	41399.5	52775	60154.2
Total Expenditure	37893.7	47604.8	53408.6
Other Income	1245.6	1363.4	1934.9
Operating Profit	3505.8	5170.2	6745.6
Interest	133.3	195.8	238.4
Exceptional Items	-140	72	20.8
PBDT	3232.5	5046.4	6528
Depreciation	671.9	731.5	727.4
Profit Before Tax	2560.6	4314.9	5800.6
Tax	552.7	1022.3	1426.2
Profit After Tax	2007.9	3292.6	4374.4
Net Profit	2007.9	3292.6	4374.4
Equity Capital	238.3	238.3	238.3
Face Value (IN RS)	2	2	2
Reserves	29771.7	31939.3	35128.7
Calculated EPS	16.85	27.63	36.71
Diluted Eps After Extraordinary Items	16.85	27.63	36.71
Diluted Eps Before Extraordinary Items	16.85	27.63	36.71

Consolidated Standalone

CONSOLIDATED PROFIT / LOSS FOR THERMAX LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	4791.25 Cr	6128.33 Cr	8089.81 Cr	9323.46 Cr
Sales	4061.28 Cr	5384.47 Cr	7072.03 Cr	8174.98 Cr
Processing Charges / Service Income	650.61 Cr	681.97 Cr	967.87 Cr	1068.26 Cr
Net Sales	4791.25 Cr	6128.33 Cr	8089.81 Cr	9323.46 Cr
Increase/Decrease in Stock	-12.16 Cr	-142.52 Cr	29.25 Cr	-34.99 Cr
Raw Material Consumed	2550.79 Cr	3627.56 Cr	4595.43 Cr	5254.55 Cr
Opening Raw Materials	276.27 Cr	219.24 Cr	395.93 Cr	452.56 Cr
Purchases Raw Materials	2410.4 Cr	3682.7 Cr	4499.33 Cr	5064.52 Cr
Closing Raw Materials	219.24 Cr	395.93 Cr	452.56 Cr	425.52 Cr
Other Direct Purchases / Brought in cost	83.36 Cr	121.55 Cr	152.73 Cr	162.99 Cr
Power & Fuel Cost	38.59 Cr	52.31 Cr	61.96 Cr	57.28 Cr
Electricity & Power	38.59 Cr	52.31 Cr	61.96 Cr	57.28 Cr
Employee Cost	758.76 Cr	812.93 Cr	954.17 Cr	1148.29 Cr
Salaries, Wages & Bonus	683.47 Cr	727.34 Cr	850.71 Cr	1027.04 Cr
Contributions to EPF & Pension Funds	39.3 Cr	41.24 Cr	48.42 Cr	70.71 Cr
Workmen and Staff Welfare Expenses	26.17 Cr	35.08 Cr	47.08 Cr	56.3 Cr
Other Manufacturing Expenses	684.36 Cr	848.77 Cr	1197.76 Cr	1365.94 Cr
Processing Charges	21.1 Cr	24.65 Cr	68.29 Cr	59.38 Cr
Repairs and Maintenance	56.55 Cr	68.18 Cr	91.82 Cr	102.87 Cr
General and Administration Expenses	157.66 Cr	215.82 Cr	279.6 Cr	326.82 Cr
Rent , Rates & Taxes	28.4 Cr	39.28 Cr	42.93 Cr	43.06 Cr
Insurance	13.25 Cr	11.88 Cr	16.1 Cr	18.85 Cr
Professional and legal fees	76.16 Cr	101.65 Cr	123.61 Cr	151.94 Cr
Traveling and conveyance	37.51 Cr	60.14 Cr	93.49 Cr	110.18 Cr
Selling and Distribution Expenses	185.79 Cr	247.3 Cr	273.7 Cr	291.03 Cr
Advertisement & Sales Promotion	11.25 Cr	10.48 Cr	23.23 Cr	24.26 Cr
Sales Commissions & Incentives	17.49 Cr	25.34 Cr	28.66 Cr	29.25 Cr
Freight and Forwarding	116.05 Cr	176.09 Cr	207.22 Cr	187.32 Cr
Miscellaneous Expenses	72.27 Cr	61.84 Cr	100.38 Cr	118.78 Cr
Provision for doubtful debts	0	5.01 Cr	2.92 Cr	0
Loss on disposal of fixed assets(net)	76 Lk	0	3.79 Cr	88 Lk
Total Expenditure	4436.06 Cr	5724.01 Cr	7492.25 Cr	8527.7 Cr
Other Income	107.74 Cr	144.06 Cr	160.18 Cr	234.2 Cr
Interest Received	75.88 Cr	57.67 Cr	71.3 Cr	91.21 Cr
Dividend Received	1.87 Cr	1.37 Cr	0	0
Profit on sale of Fixed Assets	0	7.64 Cr	0	0
Provision Written Back	8.32 Cr	28.4 Cr	16.83 Cr	17.7 Cr
Operating Profit	462.93 Cr	548.38 Cr	757.74 Cr	1029.96 Cr
Interest	20.64 Cr	25.17 Cr	37.59 Cr	87.59 Cr
PBDT	442.29 Cr	523.21 Cr	720.15 Cr	942.37 Cr
Depreciation	114.57 Cr	113.24 Cr	116.86 Cr	148.08 Cr
Profit Before Taxation & Exceptional Items	327.72 Cr	409.97 Cr	603.29 Cr	794.29 Cr
Exceptional Income / Expenses	-52.53 Cr	0	0	75.49 Cr
Profit Before Tax	275.19 Cr	409.97 Cr	603.06 Cr	868.96 Cr
Provision for Tax	68.61 Cr	97.79 Cr	152.36 Cr	225.77 Cr
Current Income Tax	74.85 Cr	72.55 Cr	125.89 Cr	214.46 Cr
Deferred Tax	-6.24 Cr	25.24 Cr	26.47 Cr	11.31 Cr
Profit After Tax	206.58 Cr	312.18 Cr	450.7 Cr	643.19 Cr
Minority Interest	0	0	-41 Lk	2.09 Cr
Share of Associate	0	13 Lk	0	0
Consolidated Net Profit	206.58 Cr	312.31 Cr	450.29 Cr	645.28 Cr
Profit Balance B/F	2331.42 Cr	2542.22 Cr	2779.32 Cr	3141.57 Cr
Appropriations	2538 Cr	2854.53 Cr	3229.61 Cr	3786.85 Cr
Other Appropriation	-4.22 Cr	75.21 Cr	88.04 Cr	76.21 Cr
Equity Dividend %	350	450	500	600
Earnings Per Share	18.35	27.74	39.99	57.31
Adjusted EPS	18.35	27.74	39.99	57.31

STANDALONE PROFIT / LOSS FOR THERMAX LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	3131.48 Cr	4015.39 Cr	5141.16 Cr	5821.93 Cr
Sales	2706.23 Cr	3550.04 Cr	4469.41 Cr	5040.56 Cr
Processing Charges / Service Income	384.47 Cr	436.2 Cr	656.74 Cr	748.04 Cr
Net Sales	3131.48 Cr	4015.39 Cr	5141.16 Cr	5821.93 Cr
Increase/Decrease in Stock	8.18 Cr	-46.81 Cr	-12.29 Cr	10.69 Cr
Raw Material Consumed	1712.27 Cr	2451.13 Cr	2991.3 Cr	3277.15 Cr
Opening Raw Materials	126.18 Cr	125.35 Cr	201.67 Cr	209.89 Cr
Purchases Raw Materials	1631.24 Cr	2418.61 Cr	2856.23 Cr	3132.05 Cr
Closing Raw Materials	125.35 Cr	201.67 Cr	209.89 Cr	226.28 Cr
Other Direct Purchases / Brought in cost	80.2 Cr	108.84 Cr	143.29 Cr	161.49 Cr
Power & Fuel Cost	27.03 Cr	39.03 Cr	46.24 Cr	43.77 Cr
Electricity & Power	27.03 Cr	39.03 Cr	46.24 Cr	43.77 Cr
Employee Cost	453.79 Cr	477.81 Cr	563.65 Cr	683.61 Cr
Salaries, Wages & Bonus	401.7 Cr	418.73 Cr	489.97 Cr	594.28 Cr
Contributions to EPF & Pension Funds	27.79 Cr	28.3 Cr	34.59 Cr	43.56 Cr
Workmen and Staff Welfare Expenses	17.74 Cr	23.94 Cr	31.86 Cr	37.12 Cr
Other Manufacturing Expenses	452.8 Cr	550.59 Cr	790.6 Cr	903.75 Cr
Processing Charges	9.68 Cr	8.35 Cr	49.09 Cr	37.39 Cr
Repairs and Maintenance	44.31 Cr	53.41 Cr	72.21 Cr	73.99 Cr
General and Administration Expenses	100.93 Cr	132.87 Cr	159.7 Cr	173.6 Cr
Rent , Rates & Taxes	17.31 Cr	18.92 Cr	19.17 Cr	16.78 Cr
Insurance	6.45 Cr	5.29 Cr	9.86 Cr	9.14 Cr
Professional and legal fees	51.19 Cr	66.85 Cr	71.54 Cr	78.17 Cr
Traveling and conveyance	23.92 Cr	39.25 Cr	56.04 Cr	66.72 Cr
Selling and Distribution Expenses	98.43 Cr	158.45 Cr	150.48 Cr	177.43 Cr
Advertisement & Sales Promotion	4.98 Cr	7.31 Cr	17.37 Cr	19.96 Cr
Sales Commissions & Incentives	12.77 Cr	14.69 Cr	22.04 Cr	22.15 Cr
Freight and Forwarding	58.59 Cr	100.17 Cr	104.09 Cr	108.68 Cr
Miscellaneous Expenses	60.07 Cr	40.41 Cr	70.8 Cr	73.55 Cr
Provision for doubtful debts	0	2.84 Cr	2.92 Cr	0
Loss on disposal of fixed assets(net)	0	0	3.53 Cr	35 Lk
Total Expenditure	2913.5 Cr	3803.48 Cr	4760.48 Cr	5343.55 Cr
Other Income	140.53 Cr	138.67 Cr	136.34 Cr	196.18 Cr
Interest Received	80.54 Cr	43.6 Cr	52.48 Cr	67.42 Cr
Dividend Received	30.8 Cr	19.3 Cr	7.09 Cr	4.5 Cr
Profit on sale of Fixed Assets	13 Lk	7.74 Cr	0	0
Provision Written Back	6.92 Cr	18.55 Cr	9.89 Cr	12.47 Cr
Operating Profit	358.51 Cr	350.58 Cr	517.02 Cr	674.56 Cr
Interest	8.57 Cr	13.33 Cr	19.58 Cr	23.84 Cr
PBDT	349.94 Cr	337.25 Cr	497.44 Cr	650.72 Cr
Depreciation	63.99 Cr	67.19 Cr	73.15 Cr	72.74 Cr
Profit Before Taxation & Exceptional Items	285.95 Cr	270.06 Cr	424.29 Cr	577.98 Cr
Exceptional Income / Expenses	-103.03 Cr	-14 Cr	7.2 Cr	2.08 Cr
Profit Before Tax	182.92 Cr	256.06 Cr	431.49 Cr	580.06 Cr
Provision for Tax	41.9 Cr	55.27 Cr	102.23 Cr	142.62 Cr
Current Income Tax	55.11 Cr	52.05 Cr	98.91 Cr	145.83 Cr
Deferred Tax	-13.21 Cr	3.22 Cr	3.32 Cr	-3.21 Cr
Profit After Tax	141.02 Cr	200.79 Cr	329.26 Cr	437.44 Cr
Consolidated Net Profit	141.02 Cr	200.79 Cr	329.26 Cr	437.44 Cr
Profit Balance B/F	2171.1 Cr	2313.03 Cr	2434.47 Cr	2648.5 Cr
Appropriations	2312.12 Cr	2513.82 Cr	2763.73 Cr	3085.94 Cr
Other Appropriation	-91 Lk	79.35 Cr	115.23 Cr	122.69 Cr
Equity Dividend %	350	450	500	600
Earnings Per Share	11.84	16.85	27.63	36.71
Adjusted EPS	11.84	16.85	27.63	36.71

Consolidated Standalone

CONSOLIDATED CASH FLOW FOR THERMAX LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	275.19 Cr	409.97 Cr	603.29 Cr	869.78 Cr
Adjustment	114.66 Cr	18.28 Cr	70.31 Cr	39.8 Cr
Changes In working Capital	473.43 Cr	-54 Lk	-62.8 Cr	-475.95 Cr
Cash Flow after changes in Working Capital	863.28 Cr	427.71 Cr	610.8 Cr	433.63 Cr
Cash Flow from Operating Activities	769.48 Cr	324.71 Cr	459.56 Cr	247.3 Cr
Cash Flow from Investing Activities	-635.68 Cr	-421.58 Cr	-679.68 Cr	-509.21 Cr
Cash Flow from Financing Activitie	77.24 Cr	-20.58 Cr	348.54 Cr	285.4 Cr
Net Cash Inflow / Outflow	211.04 Cr	-117.45 Cr	128.42 Cr	23.49 Cr
Opening Cash & Cash Equivalents	199 Cr	418.81 Cr	303.44 Cr	447.73 Cr
Effect of Foreign Exchange Fluctuations	8.77 Cr	2.08 Cr	15.87 Cr	-4.47 Cr
Closing Cash & Cash Equivalent	418.81 Cr	303.44 Cr	447.73 Cr	466.75 Cr

STANDALONE CASH FLOW FOR THERMAX LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	182.92 Cr	256.06 Cr	431.49 Cr	580.06 Cr
Adjustment	72.77 Cr	-18.74 Cr	12.56 Cr	-14.88 Cr
Changes In working Capital	235.76 Cr	-61.75 Cr	95.03 Cr	-351.3 Cr
Cash Flow after changes in Working Capital	491.45 Cr	175.57 Cr	539.08 Cr	213.88 Cr
Cash Flow from Operating Activities	409.01 Cr	93.87 Cr	418.68 Cr	90.79 Cr
Cash Flow from Investing Activities	-375.16 Cr	-100.17 Cr	-337.63 Cr	103.39 Cr
Cash Flow from Financing Activitie	62.92 Cr	-52.64 Cr	-81.49 Cr	-51.38 Cr
Net Cash Inflow / Outflow	96.77 Cr	-58.94 Cr	-44 Lk	142.8 Cr
Opening Cash & Cash Equivalents	83.43 Cr	180.2 Cr	121.26 Cr	120.82 Cr
Closing Cash & Cash Equivalent	180.2 Cr	121.26 Cr	120.82 Cr	263.62 Cr

Consolidated Standalone

CONSOLIDATED BALANCE SHEET FOR THERMAX LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	22.52 Cr	22.52 Cr	22.52 Cr	22.52 Cr
Equity - Authorised	75 Cr	75 Cr	75 Cr	75 Cr
Equity - Issued	22.52 Cr	22.52 Cr	22.52 Cr	22.52 Cr
Equity Paid Up	22.52 Cr	22.52 Cr	22.52 Cr	22.52 Cr
Face Value	2	2	2	2
Total Reserves	3228.87 Cr	3469.97 Cr	3843.03 Cr	4411.31 Cr
Securities Premium	57.28 Cr	57.28 Cr	57.28 Cr	58.71 Cr
Capital Reserves	95.12 Cr	95.12 Cr	95.12 Cr	95.12 Cr
Profit & Loss Account Balance	2542.22 Cr	2779.32 Cr	3141.57 Cr	3710.64 Cr
General Reserves	435.31 Cr	435.31 Cr	435.31 Cr	435.31 Cr
Reserve excluding Revaluation Reserve	3228.87 Cr	3469.97 Cr	3843.03 Cr	4411.31 Cr
Shareholder's Funds	3251.39 Cr	3492.49 Cr	3868.07 Cr	4439.8 Cr
Minority Interest	0	0	2.15 Cr	0
Secured Loans	22.16 Cr	61.42 Cr	422.52 Cr	789.48 Cr
Term Loans - Banks	34.52 Cr	79.17 Cr	447.23 Cr	842.76 Cr
Deferred Tax Assets / Liabilities	-154.03 Cr	-127.12 Cr	-105.71 Cr	-96.27 Cr
Deferred Tax Assets	234.21 Cr	207.73 Cr	184.95 Cr	230.57 Cr
Deferred Tax Liability	80.18 Cr	80.61 Cr	79.24 Cr	134.3 Cr
Other Long Term Liabilities	96.86 Cr	65.99 Cr	64.62 Cr	95.52 Cr
Long Term Trade Payables	32.94 Cr	47.64 Cr	30.75 Cr	48.15 Cr
Long Term Provisions	25.86 Cr	32.41 Cr	38.4 Cr	42.43 Cr
Total Non-Current Liabilities	23.79 Cr	80.34 Cr	450.58 Cr	879.31 Cr
Trade Payables	1138.01 Cr	1459.76 Cr	1497.86 Cr	1532.89 Cr
Sundry Creditors	1138.01 Cr	1459.76 Cr	1497.86 Cr	1532.89 Cr
Other Current Liabilities	1429.49 Cr	1791.87 Cr	2319.87 Cr	2432.9 Cr
Bank Overdraft / Short term credit	1.73 Cr	7.34 Cr	2 Lk	0
Advances received from customers	1267.32 Cr	1611.88 Cr	2043.08 Cr	2103.59 Cr
Short Term Borrowings	282.9 Cr	276.25 Cr	363.31 Cr	413.19 Cr
Secured ST Loans repayable on Demands	80.58 Cr	13.76 Cr	15.38 Cr	144.83 Cr
Working Capital Loans- Sec	80.58 Cr	0	10 Cr	125 Cr
Short Term Provisions	220.25 Cr	230.19 Cr	228.15 Cr	346.37 Cr
Provision for Tax	25.11 Cr	23.39 Cr	24.44 Cr	41.05 Cr
Total Current Liabilities	3070.65 Cr	3758.07 Cr	4409.19 Cr	4725.35 Cr
Total Liabilities	6345.83 Cr	7330.9 Cr	8729.99 Cr	10044.5 Cr
Gross Block	2328.06 Cr	2351.78 Cr	2469.47 Cr	3228.38 Cr
Less: Accumulated Depreciation	1047.9 Cr	1157.04 Cr	1221.3 Cr	1309.45 Cr
Less: Impairment of Assets	38.12 Cr	0	0	12.81 Cr
Net Block	1242.04 Cr	1194.74 Cr	1248.17 Cr	1906.12 Cr
Capital Work in Progress	21.06 Cr	44.32 Cr	433.77 Cr	519.35 Cr
Non Current Investments	119.21 Cr	709.99 Cr	233.21 Cr	401.63 Cr
Long Term Investment	119.21 Cr	709.99 Cr	233.21 Cr	401.63 Cr
Quoted	16 Lk	561.78 Cr	216.84 Cr	233.27 Cr
Unquoted	119.05 Cr	148.21 Cr	16.37 Cr	168.36 Cr
Long Term Loans & Advances	373.36 Cr	475.37 Cr	544.84 Cr	538.4 Cr
Other Non Current Assets	120.6 Cr	168.69 Cr	189.84 Cr	225.44 Cr
Total Non-Current Assets	1879.37 Cr	2593.11 Cr	2649.83 Cr	3596.38 Cr
Currents Investments	115.25 Cr	766.54 Cr	1392.87 Cr	1363.46 Cr
Quoted	0	602.21 Cr	763.52 Cr	1047.56 Cr
Unquoted	119.05 Cr	148.21 Cr	16.37 Cr	168.36 Cr
Inventories	404.74 Cr	727.01 Cr	755.63 Cr	764.9 Cr
Raw Materials	219.24 Cr	395.93 Cr	452.56 Cr	425.52 Cr
Work-in Progress	112.84 Cr	226.06 Cr	202.52 Cr	243.45 Cr
Finished Goods	60.75 Cr	90.11 Cr	82.37 Cr	75.36 Cr
Stores and Spare	6 Cr	9.06 Cr	10.3 Cr	11.62 Cr
Sundry Debtors	1237.1 Cr	1423.72 Cr	1762.06 Cr	2116.43 Cr
Debtors more than Six months	101.95 Cr	456.69 Cr	528.74 Cr	538.78 Cr
Debtors Others	1539.98 Cr	1349.87 Cr	1606.89 Cr	1949.22 Cr
Cash and Bank	1939.2 Cr	953.5 Cr	1131.58 Cr	975.32 Cr
Cash in hand	39 Lk	40 Lk	31 Lk	17 Lk
Balances at Bank	1937.75 Cr	952.29 Cr	1131.2 Cr	974.95 Cr
Other Current Assets	122.01 Cr	139.75 Cr	102.41 Cr	106.22 Cr
Prepaid Expenses	28.54 Cr	43.52 Cr	34.04 Cr	33.56 Cr
Short Term Loans and Advances	648.16 Cr	727.27 Cr	927.71 Cr	1121.75 Cr
Advances recoverable in cash or in kind	438.6 Cr	594.48 Cr	769.54 Cr	759.03 Cr
Advance income tax and TDS	2.6 Cr	3.27 Cr	1.19 Cr	52 Lk
Total Current Assets	4466.46 Cr	4737.79 Cr	6072.26 Cr	6448.08 Cr
Net Current Assets (Including Current Investments)	1395.81 Cr	979.72 Cr	1663.07 Cr	1722.73 Cr
Total Assets	6345.83 Cr	7330.9 Cr	8729.99 Cr	10044.5 Cr
Contingent Liabilities	465.31 Cr	490.96 Cr	491.52 Cr	406.67 Cr
Total Debt	317.42 Cr	355.42 Cr	810.54 Cr	1255.95 Cr
Book Value	288.76	0	343.3	393.77
Adjusted Book Value	288.76	310.17	343.3	393.77

STANDALONE BALANCE SHEET FOR THERMAX LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	23.83 Cr	23.83 Cr	23.83 Cr	23.83 Cr
Equity - Authorised	75 Cr	75 Cr	75 Cr	75 Cr
Equity - Issued	23.83 Cr	23.83 Cr	23.83 Cr	23.83 Cr
Equity Paid Up	23.83 Cr	23.83 Cr	23.83 Cr	23.83 Cr
Face Value	2	2	2	2
Total Reserves	2855.55 Cr	2977.17 Cr	3191.41 Cr	3506.9 Cr
Securities Premium	61.13 Cr	61.13 Cr	61.13 Cr	62.55 Cr
Capital Reserves	1.92 Cr	1.92 Cr	1.92 Cr	1.92 Cr
Profit & Loss Account Balance	2313.03 Cr	2434.47 Cr	2648.5 Cr	2963.25 Cr
General Reserves	429.14 Cr	429.14 Cr	429.14 Cr	429.14 Cr
Reserve excluding Revaluation Reserve	2855.55 Cr	2977.17 Cr	3191.41 Cr	3506.9 Cr
Shareholder's Funds	2879.38 Cr	3001 Cr	3217.76 Cr	3536.7 Cr
Deferred Tax Assets / Liabilities	-53.28 Cr	-48.64 Cr	-47.86 Cr	-52.49 Cr
Deferred Tax Assets	102.87 Cr	101.65 Cr	101.79 Cr	114.25 Cr
Deferred Tax Liability	49.59 Cr	53.01 Cr	53.93 Cr	61.76 Cr
Other Long Term Liabilities	60.12 Cr	26.39 Cr	2.51 Cr	4.29 Cr
Long Term Trade Payables	44.32 Cr	59.78 Cr	34.45 Cr	43.83 Cr
Long Term Provisions	11.79 Cr	18.06 Cr	24.08 Cr	26.15 Cr
Total Non-Current Liabilities	62.95 Cr	55.59 Cr	13.18 Cr	21.78 Cr
Trade Payables	841.26 Cr	975.34 Cr	1038.08 Cr	1072.83 Cr
Sundry Creditors	841.26 Cr	975.34 Cr	1038.08 Cr	1072.83 Cr
Other Current Liabilities	925.91 Cr	1015.98 Cr	1484.36 Cr	1541.43 Cr
Bank Overdraft / Short term credit	1.73 Cr	7.34 Cr	0	0
Advances received from customers	840.91 Cr	920.31 Cr	1342.36 Cr	1392.43 Cr
Current maturity - Others	1.61 Cr	0	0	0
Short Term Borrowings	140.75 Cr	180 Cr	220 Cr	307.8 Cr
Secured ST Loans repayable on Demands	3.75 Cr	0	10 Cr	90 Cr
Working Capital Loans- Sec	0	0	10 Cr	90 Cr
Short Term Provisions	128.94 Cr	148.92 Cr	130.07 Cr	214.34 Cr
Provision for Tax	23.1 Cr	21.33 Cr	18.49 Cr	20.06 Cr
Total Current Liabilities	2036.86 Cr	2320.24 Cr	2872.51 Cr	3136.4 Cr
Total Liabilities	4979.19 Cr	5376.83 Cr	6103.45 Cr	6694.88 Cr
Gross Block	1318.47 Cr	1338.84 Cr	1339.69 Cr	1424.85 Cr
Less: Accumulated Depreciation	547.79 Cr	592.74 Cr	625.89 Cr	675.34 Cr
Net Block	770.68 Cr	746.1 Cr	713.8 Cr	749.51 Cr
Capital Work in Progress	20.26 Cr	14.97 Cr	44.91 Cr	107.23 Cr
Non Current Investments	788.17 Cr	1460.95 Cr	1086.01 Cr	1427.46 Cr
Long Term Investment	788.17 Cr	1460.95 Cr	1086.01 Cr	1427.46 Cr
Quoted	16 Lk	561.78 Cr	216.84 Cr	233.27 Cr
Unquoted	1042.7 Cr	1179.86 Cr	1142.66 Cr	1541.09 Cr
Long Term Loans & Advances	312.04 Cr	411.31 Cr	328.68 Cr	346.38 Cr
Other Non Current Assets	57 Lk	26.11 Cr	19.81 Cr	14.48 Cr
Total Non-Current Assets	1894.82 Cr	2659.44 Cr	2193.21 Cr	2649.44 Cr
Currents Investments	114.94 Cr	534.3 Cr	1183.88 Cr	965.79 Cr
Quoted	0	452.17 Cr	662.64 Cr	682.18 Cr
Unquoted	1042.7 Cr	1179.86 Cr	1142.66 Cr	1541.09 Cr
Inventories	245.94 Cr	370.35 Cr	390.78 Cr	397.33 Cr
Raw Materials	125.35 Cr	201.67 Cr	209.89 Cr	226.28 Cr
Work-in Progress	83.7 Cr	134.62 Cr	136.57 Cr	132.49 Cr
Finished Goods	28.32 Cr	24.47 Cr	32.66 Cr	24.9 Cr
Stores and Spare	2.66 Cr	3.94 Cr	3.86 Cr	4.71 Cr
Sundry Debtors	823.52 Cr	953.37 Cr	1210.22 Cr	1501.64 Cr
Debtors more than Six months	52.45 Cr	268.53 Cr	349.94 Cr	369.89 Cr
Debtors Others	1024.65 Cr	921.55 Cr	1092.38 Cr	1387.69 Cr
Cash and Bank	1386.78 Cr	441.57 Cr	408.48 Cr	346.76 Cr
Cash in hand	36 Lk	32 Lk	21 Lk	12 Lk
Balances at Bank	1385.36 Cr	440.44 Cr	408.2 Cr	346.44 Cr
Other Current Assets	70.56 Cr	74.57 Cr	58.06 Cr	57.9 Cr
Prepaid Expenses	16.27 Cr	29.28 Cr	22.71 Cr	21.31 Cr
Short Term Loans and Advances	442.63 Cr	343.23 Cr	652.29 Cr	776.02 Cr
Advances recoverable in cash or in kind	226.08 Cr	268.35 Cr	379.09 Cr	312.03 Cr
Advance income tax and TDS	68 Lk	0	0	0
Total Current Assets	3084.37 Cr	2717.39 Cr	3903.71 Cr	4045.44 Cr
Net Current Assets (Including Current Investments)	1047.51 Cr	397.15 Cr	1031.2 Cr	909.04 Cr
Total Assets	4979.19 Cr	5376.83 Cr	6103.45 Cr	6694.88 Cr
Contingent Liabilities	2663.24 Cr	2567.8 Cr	3008.83 Cr	1590.17 Cr
Total Debt	142.36 Cr	180 Cr	220 Cr	307.8 Cr
Book Value	241.66	0	269.85	296.33
Adjusted Book Value	241.66	251.87	269.85	296.33

Consolidated Standalone

FINANCIAL RATIOS (CONSOLIDATED) FOR THERMAX LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	18.35	27.74	39.99	57.31
CEPS(Rs)	28.52	37.78	50.41	70.27
DPS(Rs)	7	9	10	12
Book NAV/Share(Rs)	288.76	310.17	343.3	393.77
Tax Rate(%)	24.93	23.85	25.26	25.98
Margin Ratios
Core EBITDA Margin(%)	7.41	6.6	7.39	8.54
EBIT Margin(%)	6.17	7.1	7.92	10.26
Pre Tax Margin(%)	5.74	6.69	7.45	9.32
PAT Margin (%)	4.31	5.09	5.57	6.9
Cash Profit Margin (%)	6.7	6.94	7.02	8.49
Performance Ratios
ROA(%)	3.4	4.57	5.61	6.85
ROE(%)	6.58	9.26	12.25	15.5
ROCE(%)	8.67	11.73	15.03	18.44
Asset Turnover(x)	0.79	0.9	1.01	0.99
Sales/Fixed Asset(x)	2.09	2.62	3.36	3.27
Working Capital/Sales(x)	3.43	6.26	4.86	5.41
Efficiency Ratios
Fixed Capital/Sales(x)	0.48	0.38	0.3	0.31
Receivable days	99.93	79.24	71.87	75.92
Inventory Days	32.73	33.7	33.45	29.76
Payable days	88.26	136.04	116.71	105.97
Valuation Parameters
PER(x)	73.37	70.05	57.26	73.21
PCE(x)	47.19	51.42	45.43	59.7
Price/Book(x)	4.66	6.26	6.67	10.65
Yield(%)	0.52	0.46	0.44	0.29
EV/Net Sales(x)	2.82	3.47	3.15	5.1
EV/Core EBITDA(x)	29.24	38.8	33.61	46.14
EV/EBIT(x)	45.75	48.9	39.75	49.68
EV/CE(x)	2.13	2.9	2.92	8.34
M Cap / Sales	3.16	3.57	3.19	5.07
Growth Ratio
Net Sales Growth(%)	-16.65	27.91	32.01	15.25
Core EBITDA Growth(%)	-8.54	18.46	38.18	35.93
EBIT Growth(%)	-24.06	47.09	47.18	49.31
PAT Growth(%)	-2.76	51.12	44.31	42.71
EPS Growth(%)	-2.76	51.18	44.18	43.3
Financial Stability Ratios
Total Debt/Equity(x)	0.1	0.1	0.21	0.28
Current Ratio(x)	1.45	1.26	1.38	1.36
Quick Ratio(x)	1.32	1.07	1.21	1.2
Interest Cover(x)	14.33	17.29	17.04	10.92
Total Debt/Mcap(x)	0.02	0.02	0.03	0.03

FINANCIAL RATIOS (STANDALONE) FOR THERMAX LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	11.84	16.85	27.63	36.71
CEPS(Rs)	17.21	22.49	33.77	42.82
DPS(Rs)	7	9	10	12
Book NAV/Share(Rs)	241.66	251.87	269.85	296.33
Tax Rate(%)	22.91	21.58	23.69	24.59
Margin Ratios
Core EBITDA Margin(%)	6.96	5.28	7.4	8.22
EBIT Margin(%)	6.12	6.71	8.77	10.37
Pre Tax Margin(%)	5.84	6.38	8.39	9.96
PAT Margin (%)	4.5	5	6.4	7.51
Cash Profit Margin (%)	6.55	6.67	7.83	8.76
Performance Ratios
ROA(%)	3.02	3.88	5.74	6.84
ROE(%)	5.02	6.83	10.59	12.97
ROCE(%)	6.57	8.69	13.63	16.59
Asset Turnover(x)	0.67	0.78	0.9	0.91
Sales/Fixed Asset(x)	2.44	3.02	3.84	4.21
Working Capital/Sales(x)	2.99	10.11	4.99	6.4
Efficiency Ratios
Fixed Capital/Sales(x)	0.41	0.33	0.26	0.24
Receivable days	91.9	80.76	76.8	85.01
Inventory Days	29.19	28.01	27.02	24.7
Payable days	93.37	137.89	123.35	117.17
Valuation Parameters
PER(x)	113.73	115.29	82.87	114.28
PCE(x)	78.23	86.38	67.8	97.98
Price/Book(x)	5.57	7.71	8.49	14.16
Yield(%)	0.52	0.46	0.44	0.29
EV/Net Sales(x)	4.72	5.7	5.27	8.58
EV/Core EBITDA(x)	41.26	65.28	52.41	74.05
EV/EBIT(x)	77.26	84.96	60.07	82.71
EV/CE(x)	2.97	4.26	4.44	12.99
M Cap / Sales	5.12	5.77	5.31	8.59
Growth Ratio
Net Sales Growth(%)	-25.16	28.23	28.04	13.24
Core EBITDA Growth(%)	-12.21	-2.21	47.48	30.47
EBIT Growth(%)	-42.13	40.68	67.44	33.88
PAT Growth(%)	-34.1	42.38	63.98	32.86
EPS Growth(%)	-34.1	42.38	63.98	32.86
Financial Stability Ratios
Total Debt/Equity(x)	0.05	0.06	0.07	0.09
Current Ratio(x)	1.51	1.17	1.36	1.29
Quick Ratio(x)	1.39	1.01	1.22	1.16
Interest Cover(x)	22.34	20.21	23.04	25.33
Total Debt/Mcap(x)	0.01	0.01	0.01	0.01

SHARE HOLDING PATTERN FOR THERMAX LIMITED

Date	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters %	61.98	61.98	61.98	61.98	61.98	61.98	61.98	61.98	61.98	61.98
FII %	11.93	12.35	12.27	12.29	12.36	12.54	12.01	12.24	15.15	15.38
DII %	0.09	0.07	0.08	0.03	0.03	0.02	0.02	0.00	0.00	0.00
Public %	10.32	10.33	10.40	10.09	10.16	10.02	10.14	9.96	10.00	9.92

PEER COMPARISON FOR THERMAX LIMITED

No.	Name
1	ATV PROJECTS INDIA LTD
2	BEML Limited
3	Bharat Electronics Limited
4	DISA INDIA LTD
5	Bharat Heavy Electricals Limited
6	John Cockerill India Ltd
7	HARIG CRANKSHAFTS LTD
8	ION Exchange (India) Limited
9	Kirloskar Brothers Limited
10	Kirloskar Industries Limited
11	ENVAIR ELECTRODYNE LTD
12	Ksb Limited
13	Thermax Limited
14	Premier Limited
15	Rollatainers Limited
16	FORBES & COMPANY LTD
17	GONTERMANN-PEIPERS (INDIA) LTD
18	TAYO ROLLS LTD
19	TIL Limited
20	GMM Pfaudler Limited
21	Manugraph India Limited
22	Nesco Limited
23	SEMAC CONSULTANTS LIMITED
24	Elecon Engineering Company Limited
25	Hercules Hoists Limited
26	TRF Limited
27	Walchandnagar Industries Limited
28	International Conveyors Limited
29	TRANS-FREIGHT CONTAINERS LTD
30	BATLIBOI LTD
31	United Drilling Tools Limited
32	Windsor Machines Limited
33	KILBURN ENGINEERING LTD
34	Yuken India Limited
35	ARTSON ENGINEERING LTD
36	Praj Industries Limited
37	HLE Glascoat Limited
38	Gujarat Apollo Industries Limited
39	Eimco Elecon (India) Limited
40	Mahindra EPC Irrigation Limited
41	Mazda Limited
42	Kabra Extrusion Technik Limited
43	SHETRON LTD
44	ATCOM TECHNOLOGIES LTD
45	HINDUSTAN TIN WORKS LTD
46	Genus Power Infrastructures Limited
47	AIA Engineering Limited
48	Everest Kanto Cylinder Limited
49	Action Construction Equipment Limited
50	Isgec Heavy Engineering Limited

CORPORATE ACTIONS FOR THERMAX LIMITED

Exchange Date	Purpose	Book Closure Dates
BSE 22-Oct-2024	Board Meeting - Quarterly Results	13-Nov-2024
BSE 23-Jul-2024	Board Meeting - Quarterly Results	01-Aug-2024
BSE 10-May-2024	Dividend - Rs.12.0000 per share(600%)Dividend
BSE 22-Apr-2024	Board Meeting - Dividend & Audited Results	10-May-2024
BSE 23-Jan-2024	Board Meeting - Quarterly Results	08-Feb-2024
BSE 13-Dec-2023	SAST - Thermax Limited has informed the Exchanges about further investment in its wholly owned subsidiary.
BSE 27-Oct-2023	SAST - Thermax Limited has informed the exchanges about additional equity infusion in its wholly owned step-down subsidiary.
BSE 13-Oct-2023	Board Meeting - Quarterly Results	03-Nov-2023
BSE 21-Jul-2023	Board Meeting - Quarterly Results	01-Aug-2023
BSE 17-May-2023	Dividend - Rs.10.0000 per share(500%)Dividend
BSE 08-May-2023	Board Meeting - Dividend & Audited Results	17-May-2023
BSE 31-Jan-2023	Board Meeting - Quarterly Results	07-Feb-2023
BSE 20-Oct-2022	Board Meeting - Quarterly Results	11-Nov-2022
BSE 25-Jul-2022	Board Meeting - Quarterly Results	02-Aug-2022
BSE 20-May-2022	Dividend - Rs.9.0000 per share(450%)Dividend
BSE 09-May-2022	Board Meeting - Dividend & Audited Results	20-May-2022
BSE 25-Jan-2022	Board Meeting - Quarterly Results	04-Feb-2022
BSE 08-Nov-2021	Board Meeting - Quarterly Results	10-Nov-2021

CORPORATE ANNOUNCEMENTS FOR THERMAX LIMITED

Exchange Date	Category File	Description
BSE 25-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Press Release / Media Release Thermax Limited has submitted press release regarding acquisition
BSE 25-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Acquisition Thermax Limited has informed the exchanges about signing of Share Purchase and Share Subscription Agreement for acquisition of 100% stake in Buildtech Products India Private Limited.
BSE 24-Oct-2024	General Announcements FILE	Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate Thermax Limited has informed the Exchanges about issuance of Letter of Confirmation (LOC).
BSE 22-Oct-2024	Intimation FILE	Board Meeting Intimation for Approval Of Un-Audited Consolidated And Standalone Financial Statements For Quarter And Half Year Ended September 30 2024. THERMAX LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/11/2024 inter alia to consider and approve Thermax Limited has informed the Exchanges about Board Meeting scheduled to be held on Wednesday November 13 2024 to consider and approve un-audited Consolidated and Standalone financial statements for quarter and half year ended September 30 2024.
BSE 21-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Change in Management Thermax Limited has informed the exchanges about appointment of new member to the Senior Management of the Company.
BSE 21-Oct-2024	General Announcements FILE	Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate Thermax Limited has informed the Exchanges about loss of share certificate.
BSE 18-Oct-2024	General Announcements FILE	Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate Thermax Limited has informed the exchanges regarding issue of Letter of Confirmation.
BSE 11-Oct-2024	General Announcements FILE	Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate Thermax Limited has informed the Exchanges about loss of share certificate.
BSE 07-Oct-2024	General Announcements FILE	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018 Thermax Limited has submitted certificate under Regulation 74(5) of SEBI (DP) Regulations.
BSE 01-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Acquisition Thermax Limited has informed the exchanges about additional equity infusion in subsidiary company.
BSE 27-Sep-2024	General Announcements FILE	Announcement Under Regulation 30 Of SEBI (LODR) 2015 Thermax Limited has informed the company on order by passed by Customs Authority
BSE 26-Sep-2024	Intimation FILE	Closure of Trading Window Thermax Limited has informed the exchanges about closure of Trading Window from October 01 2024 for financial results for quarter and half year ended September 30 2024
BSE 26-Sep-2024	General Announcements FILE	Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate Thermax Limited has informed the exchanges about issue of Duplicate Share Certificate.
BSE 24-Sep-2024	General Announcements FILE	Announcement Under SEBI (LODR) Regulations 2015 Thermax Limited has submitted announcement under Regulation 30 of SEBI (LODR) Regulations 2015
BSE 14-Sep-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Press Release / Media Release Thermax Limited has submitted press release regarding receipt of order by its subsidiary.
BSE 14-Sep-2024	General Announcements FILE	Announcement Under Reg 30 Of SEBI (LODR) Regulations 2015 - Receipt Of Order Thermax Limited has informed the exchanges regarding receipt of order by its subsidiary.
BSE 13-Sep-2024	General Announcements FILE	Announcement Under Regulation 30 Of SEBI (LODR) 2015 Thermax Limited has submitted announcement under Reg 30 for loan agreement.
BSE 12-Sep-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Press Release / Media Release Thermax Limited has submitted press release regarding signing of Collaboration and License Agreement with Ceres Power Limited.
BSE 12-Sep-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements Thermax Limited has informed the exchanges about signing of Collaboration and License Agreement with Ceres Power Limited.
BSE 06-Sep-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Acquisition Thermax Limited has informed that exchange about acquisition by its wholly owned subsidiary First Energy Private Limited.
BSE 06-Aug-2024	General Announcements FILE	Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate Thermax Limited has informed the Exchanges about loss of share certificate.
BSE 06-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Earnings Call Transcript Thermax Limited has informed the Exchanges about transcript of analyst call for Q1 FY 2024-25.
BSE 02-Aug-2024	General Announcements FILE	Approval Of Shareholders For Continuation Of Directorship Of Mrs. Meher Pudumjee As Non-Executive Non-Independent Director Not Liable To Retire By Rotation Thermax Limited has informed the Exchange that the Shareholders at their meeting held on August 1 2024 approved continuation of directorship of Mrs. Meher Pudumjee (DIN:00019581) as Non-Executive Non-Independent Director of the Company not liable to retire by rotation in terms of Regulation 17(1D) of the SEBI (LODR) Regulations 2015.
BSE 02-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association Thermax Limited has informed the exchanges about shareholders approval on amendment to Object Clause of the Memorandum of Association of the Company
BSE 02-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome Thermax Limited has submitted the audio recording for the earnings call for Q1 FY25
BSE 02-Aug-2024	Outcome FILE	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report Thermax Limited has submitted the voting results and scrutinisers report for the 43rd AGM held on August 1 2024
BSE 02-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Newspaper Publication Thermax Limited has submitted the copies of newspaper publication regarding financials results for the quarter ended June 30 2024.
BSE 01-Aug-2024	Outcome FILE	Shareholder Meeting / Postal Ballot-Outcome of AGM Thermax Limited has submitted the summary of proceedings of the 43rd Annual General Meeting of the Company held on August 1 2024 along with Chairpersons Presentation made at the meeting.
BSE 01-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Investor Presentation Thermax Limited has informed the Exchanges about investors presentation for Q1 FY 2024-25.
BSE 01-Aug-2024	General Announcements FILE	Announcement Under Regulation 30 Thermax Limited has informed the Exchanges about other matters from outcome of Board Meeting held on August 1 2024.

INSIDER TRADING FOR THERMAX LIMITED

Exchange Dates	Activity	Qty & Price (%)	Person / Organisation
BSE 25-Aug-2022 25-Aug-2022	Sell Market	200 @ 0.00 (0.00 %)	BINAIFER GAGRAT
BSE 08-Sep-2022 08-Sep-2022	Sell Market	334 @ 0.00 (0.00 %)	BINAIFER GAGRAT

BULK BLOCK DEALS FOR THERMAX LIMITED

Exchange Dates	Activity	Qty & Price (%)	Person / Organisation
BSE 25-Jan-2024	Sell BLOCK	38,775 @ 3028.75	BNP PARIBAS ARBITRAGE
BSE 25-Jan-2024	Sell BLOCK	131,540 @ 3028.75	BNP PARIBAS ARBITRAGE
BSE 25-Jan-2024	Buy BLOCK	1,137 @ 3028.75	MARSHALL WACE INVESTMENT STRATEGIESGTOPS FUND
BSE 25-Jan-2024	Buy BLOCK	37,638 @ 3028.75	MARSHALLWACEINVESTMENTSTRATEGIESMARKETNEUTRALTOPSFUND
BSE 25-Jan-2024	Buy BLOCK	131,540 @ 3028.75	SOCIETE GENERALE
BSE 25-Oct-2022	Sell BLOCK	123,725 @ 2112.90	ISHARES CORE EMERGING MARKETS MAURITIUS CO
BSE 25-Oct-2022	Buy BLOCK	123,725 @ 2112.90	ISHARES CORE MSCI EMERGING MARKETS ETF
BSE 25-Oct-2022	Sell BLOCK	16,709 @ 2112.90	ISHARES INDIA SC MAURITIUS COMPANY
BSE 25-Oct-2022	Buy BLOCK	16,709 @ 2112.90	ISHARES MSCI INDIA SMALL-CAP ETF
BSE 17-Oct-2022	Sell BLOCK	123,604 @ 2026.25	ISHARES CORE EMERGING MARKETS MAURITIUS CO
BSE 17-Oct-2022	Buy BLOCK	123,604 @ 2026.25	ISHARES CORE MSCI EMERGING MARKETS ETF
BSE 17-Oct-2022	Sell BLOCK	16,692 @ 2026.25	ISHARES INDIA SC MAURITIUS COMPANY
BSE 17-Oct-2022	Buy BLOCK	16,692 @ 2026.25	ISHARES MSCI INDIA SMALL-CAP ETF
BSE 19-Sep-2022	Sell BLOCK	41,105 @ 2561.10	ISHARES CORE EMERGING MARKETS MAURITIUS CO
BSE 19-Sep-2022	Buy BLOCK	41,105 @ 2561.10	ISHARES CORE MSCI EMERGING MARKETS ETF
BSE 19-Sep-2022	Sell BLOCK	5,507 @ 2561.10	ISHARES INDIA SC MAURITIUS COMPANY
BSE 19-Sep-2022	Buy BLOCK	5,507 @ 2561.10	ISHARES MSCI INDIA SMALL-CAP ETF

DIVIDEND BY THERMAX LIMITED

Ex Dividend Date	Dividend Type	Dividend
05-Jul-2024	DIVIDEND	12
21-Jul-2023	DIVIDEND	10
21-Jul-2022	DIVIDEND	9
22-Jul-2021	DIVIDEND	7

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Thermax Limited

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