Thermax Limited (THERMAX): research summary

Price history, fundamentals, business-quality scores, DCF intrinsic value, shareholding, quarterly results and risk metrics for Thermax Limited, explained in plain English.

• ▪Thermax Limited is tracked in the Power sector of the NSE universe covered here.
• ▪THERMAX closed at ₹3,102.20 on 30 October 2026.
• ▪Over the past year the shares are down 4.8%, trading between ₹2,742.70 and ₹5,277.80.
• ▪Our transparent MaxGrade checklist scores it F (4/100) across momentum, growth, profitability and safety, using Power sector medians as the bar.
• ▪Annualised volatility over the past year is 36.14% with a maximum drawdown of -39.99% and a beta of 0.55 against NIFTY 50.
• ▪Recent coverage: JioBlackRock Flexicap down 6.67% in 2026: 19 fresh buys, 18 exits in September reshuffle
• ▪Recent coverage: Thermax share price soars 7% on renewal energy arm stake sale buzz

Other Power companies: ACME Solar Holdings, Adani Energy Solutions, Adani Green Energy, Adani Power, CESC, Clean Max Enviro Energy Solutions, Emmvee Photovoltaic Power, GE Vernova T&D India

Figures from the current session. Market open.