Stock · THERMAX · Capital Goods
THERMAX share price target 2026
Support, resistance, the F&O structure and the BazaarBaazi Crack Score for THERMAX LIMITED, refreshed every end-of-day run. A systematic, data-only read on THERMAX LIMITED: where it trades versus its 50-day and 200-day lines, the live 52-week range, and momentum, refreshed from the scanner's real price series each run.
The verdict
BazaarBaazi reads THERMAX as constructive with a Crack Score of 87/100 as of 21 Jul 2026.
BazaarBaaziSource & method
The scanner's readScanned · scanned 21 Jul 2026
Where THERMAX stands on the 500-name BazaarBaazi setup scanner: technicals, filed fundamentals and money flow read together, refreshed every run.
Scanned and scored this run, but the evidence is incomplete or conflicted. The engine fails closed to NO_TRADE.
Technical axis
100/100Fundamental axis
0/100Money flow
77/100Result pulse · Q4 FY26
0/100Technical evidence
price above 50DMA
price above 150DMA
price above 200DMA
50 > 150 > 200 DMA (clean stack)
uptrend frame (50 > 200 DMA)
50DMA rising
pulled back to a rising MA
RSI 54.9 (cooled, not broken)
Red flags
above 200DMA (not a confirmed short-side trend)
strong accumulation tape
weak filed result (score 0.0)
Relative valuation
P/E (TTM)
75.7P/E vs sector
+1.5%Sector percentile
75PEG
n/aScanner levels from the deterministic engine run of 2026-07-21, not a SEBI-registered recommendation and not investment advice. The fundamental axis reads the official filing: Q4 FY26 result.
Price target: support and resistanceComputed 21 Jul 2026
Support and resistance for THERMAX are read inside the latest show; no spot was printed in the most recent editorial note.
Levels are read inside the latest show. The most recent editorial reference is Systematic Read on 21 Jul 2026.
These are structural reference lines, not a SEBI-registered price target. BazaarBaazi is independent media; the levels frame how the desk reads the THERMAX chart, refreshed every end-of-day run.
The Crack Score, and how it is built87 / 100 · High conviction
The Crack Score is a deterministic 0 to 100 conviction number. Here is exactly what moved it for THERMAX, so the figure is a transparent signal rather than a vibe.
Base 50, adjusted by the factors above and clamped to 0 to 100. How the Crack Score works.
The F&O viewHorizon · swing
How the futures and options structure on THERMAX reads right now.
The editorial price read on THERMAX is bullish. Strike-level option inventory is unavailable, so the page withholds writer, wall and pin claims. Single-stock F&O on THERMAX can be thinner than index F&O, so the desk weights price and filed evidence over raw OI. This is not a derivatives trade recommendation.
Why it movedLatest editorial line
The most recent BazaarBaazi read on what is driving THERMAX.
Systematic read: a disclosed, data-only model on real 1-year price structure.
Read in Systematic Read on 21 Jul 2026. Why THERMAX moved, the living explainer, tracks every move on one URL.
Latest filed resultsQ4 FY26
THERMAX LIMITED's most recent quarter, parsed straight from the official BSE filing. Every figure links back to its primary source.
Result Pulse
0 / 100Revenue
Rs 3,428 crNet profit
Rs 244 crEPS (quarter)
Rs 21.68| Growth | YoY | QoQ |
|---|---|---|
| Revenue | n/a | n/a |
| Net profit | n/a | n/a |
| Net margin | n/a | |
Figures are the Q4 FY26 result for THERMAX LIMITED, parsed straight from the official BSE integrated filing and verified to the paisa. The EPS shown is for the quarter, not a trailing-twelve-month figure, so it is not a P/E input.
Earnings history, every filed quarter32 quarters on record
THERMAX LIMITED's official quarterly revenue, EPS and Result Pulse trail, every quarter the desk holds from the verified filings export, back to 30 Jun 2018. These are quarterly facts, not TTM valuation inputs.
THERMAX official result trail
32 quarters
Quarterly figures only: revenue, net profit and EPS are copied from official filings. EPS here is not trailing twelve month EPS and is not used for valuation.
| Quarter | Revenue | EPS | PAT YoY | Pulse | Source |
|---|---|---|---|---|---|
| Q4 FY26ended 31 Mar 2026 / Consolidated, audited | Rs 3,428 cr | Rs 21.68 | n/a | n/a | Filing |
| Q3 FY26ended 31 Dec 2025 / Consolidated, audited | Rs 2,635 cr | Rs 18.12 | n/a | 60/100 | Filing |
| Q2 FY26ended 30 Sep 2025 / Consolidated, audited | Rs 2,474 cr | Rs 10.62 | n/a | 44/100 | Filing |
| Q1 FY26ended 30 Jun 2025 / Consolidated, audited | Rs 2,150 cr | Rs 13.53 | n/a | n/a | Filing |
| Q4 FY25ended 31 Mar 2025 / Consolidated, audited | Rs 3,085 cr | Rs 18.27 | n/a | n/a | Filing |
| Q3 FY25ended 31 Dec 2024 / Consolidated, audited | Rs 2,508 cr | Rs 10.29 | n/a | n/a | Filing |
| Q2 FY25ended 30 Sep 2024 / Consolidated, audited | Rs 2,612 cr | Rs 17.49 | n/a | n/a | Filing |
| Q1 FY25ended 30 Jun 2024 / Consolidated, audited | Rs 2,184 cr | Rs 10.28 | n/a | n/a | Filing |
| Q4 FY24ended 31 Mar 2024 / Consolidated, audited | Rs 2,764 cr | Rs 16.90 | n/a | n/a | Filing |
| Q3 FY24ended 31 Dec 2023 / Consolidated, audited | Rs 2,324 cr | Rs 21.17 | n/a | n/a | Filing |
| Q2 FY24ended 30 Sep 2023 / Consolidated, audited | Rs 2,302 cr | Rs 14.00 | n/a | n/a | Filing |
| Q1 FY24ended 30 Jun 2023 / Consolidated, audited | Rs 1,933 cr | Rs 5.23 | n/a | n/a | Filing |
| Q4 FY23ended 31 Mar 2023 / Consolidated, audited | Rs 2,311 cr | Rs 13.85 | n/a | n/a | Filing |
| Q3 FY23ended 31 Dec 2022 / Consolidated, audited | Rs 2,049 cr | Rs 11.20 | n/a | n/a | Filing |
| Q2 FY23ended 30 Sep 2022 / Consolidated, audited | Rs 2,075 cr | Rs 9.69 | n/a | n/a | Filing |
| Q1 FY23ended 30 Jun 2022 / Consolidated, audited | Rs 1,654 cr | Rs 5.24 | n/a | n/a | Filing |
| Q4 FY22ended 31 Mar 2022 / Consolidated, audited | Rs 1,992 cr | Rs 9.10 | n/a | n/a | Filing |
| Q3 FY22ended 31 Dec 2021 / Consolidated, audited | Rs 1,615 cr | Rs 7.06 | n/a | n/a | Filing |
| Q2 FY22ended 30 Sep 2021 / Consolidated, audited | Rs 1,469 cr | Rs 7.80 | n/a | n/a | Filing |
| Q1 FY22ended 30 Jun 2021 / Consolidated, audited | Rs 1,052 cr | Rs 3.77 | n/a | n/a | Filing |
| Q4 FY21ended 31 Mar 2021 / Consolidated, audited | Rs 1,575 cr | Rs 9.53 | n/a | n/a | Filing |
| Q3 FY21ended 31 Dec 2020 / Consolidated, audited | Rs 1,411 cr | Rs 7.39 | n/a | n/a | Filing |
| Q2 FY21ended 30 Sep 2020 / Consolidated, audited | Rs 1,141 cr | Rs 2.78 | n/a | n/a | Filing |
| Q1 FY21ended 30 Jun 2020 / Consolidated, audited | Rs 665 cr | Rs -1.36 | n/a | n/a | Filing |
| Q4 FY20ended 31 Mar 2020 / Consolidated, audited | Rs 1,323 cr | Rs 3.47 | n/a | n/a | Filing |
| Q3 FY20ended 31 Dec 2019 / Consolidated, audited | Rs 1,410 cr | Rs 7.54 | n/a | n/a | Filing |
| Q2 FY20ended 30 Sep 2019 / Consolidated, audited | Rs 1,606 cr | Rs 2.29 | n/a | n/a | Filing |
| Q1 FY20ended 30 Jun 2019 / Consolidated, audited | Rs 1,392 cr | Rs 5.57 | n/a | n/a | Filing |
| Q4 FY19ended 31 Mar 2019 / Consolidated, audited | Rs 2,074 cr | Rs 11.27 | n/a | n/a | Filing |
| Q3 FY19ended 31 Dec 2018 / Consolidated, audited | Rs 1,437 cr | Rs 6.66 | n/a | n/a | Filing |
| Q2 FY19ended 30 Sep 2018 / Consolidated, audited | Rs 1,428 cr | Rs 6.62 | n/a | n/a | Filing |
| Q1 FY19ended 30 Jun 2018 / Consolidated, audited | Rs 1,035 cr | Rs 4.35 | n/a | n/a | Filing |
The official financialsFiled to 31 Mar 2026
THERMAX LIMITED's statements as filed: trailing twelve month P&L, the balance sheet, and the cash engine. Parsed from official XBRL, shown in crore.
Trailing twelve months, on filed quarters
Revenue (TTM)
10,694 crNet profit (TTM)
720 crEBIT (TTM)
1,147 crProfit before tax (TTM)
1,008 crNet margin (TTM)
6.7%Finance costs (TTM)
139 crBalance sheet, as filed 2026-03-31
Total assets
13,282 crShareholder equity
5,579 crTotal borrowings
2,288 crCash and equivalents
674 crInventory
910 crTrade receivables
2,205 crThe cash engine, latest filed year
Operating cash flow
542 crCapex
952 crFree cash flow
-411 crInvesting flow
587 crFinancing flow
248 crAnnual trail, filed year over filed year
| Year | Revenue | Net profit | Equity | Borrowings | CFO |
|---|---|---|---|---|---|
| FY26 | 10,694 cr | 720 cr | 5,579 cr | 2,288 cr | 542 cr |
| FY25 | 10,389 cr | 627 cr | 4,943 cr | 1,693 cr | 1,043 cr |
| FY24 | 9,323 cr | 643 cr | 4,440 cr | 1,256 cr | 247 cr |
| FY23 | 8,090 cr | 451 cr | 3,870 cr | 811 cr | 460 cr |
| FY22 | 6,128 cr | 312 cr | 3,492 cr | 355 cr | 325 cr |
| FY21 | 4,791 cr | 207 cr | 3,251 cr | 305 cr | n/a |
Every figure is parsed from THERMAX LIMITED's official NSE XBRL filings by the BazaarBaazi earnings lab and shown in crore rupees. Display data, not a valuation model input.
Management on record8 earnings calls
Every THERMAX earnings call BazaarBaazi has indexed, latest 31 May 2026. Read management in its own words, straight from the filed transcript.
THERMAX LIMITED earnings calls on record
8 calls since 30 Jun 2021
Each entry links to the transcript PDF the company filed with the exchange. Primary sources, in management's own words.
What changed1 disclosure
Every recent official filing from THERMAX LIMITED, straight from the exchange feed, with the BazaarBaazi Event Heat on the disclosure flow.
THERMAX LIMITED's most recent official filing is a Earnings dated 31 Mar 2026.
Event Heat
61 / 100Event Heat is a dated net read of THERMAX LIMITED's last 180 days of official disclosures, balancing the constructive filings against the ones to watch. It is a signal from what the company has filed, not investment advice. Every line above links to its official exchange filing, and the full market desk is at the disclosures hub.
Key fundamentalsEditorial reference
The anchor data BazaarBaazi references when reading the THERMAX chart. Not a substitute for a registered research note.
| Ticker | THERMAX |
|---|---|
| Full name | THERMAX LIMITED |
| Sector | Capital Goods |
| Index class | MID CAP |
| ISIN | INE152A01029 |
| Market-cap band | ~54,573 cr (indicative) |
| Last referenced level | Inside latest show |
| Last session move | Not referenced this cycle |
| Editorial line in | Systematic Read on 21 Jul 2026 |
| Aliases tracked | THERMAX |
Reference chartLevels in show
The daily frame the desk reads on THERMAX.
FAQ11 reader questions · AEO-eligible
The line on THERMAX, distilled and schema-marked for AI Overview, Perplexity, and reader search.
What is the THERMAX share price target for 2026?
BazaarBaazi does not publish a SEBI-registered price target on THERMAX. The desk reads structural support and resistance inside each show against the printed spot; the most recent editorial line is Systematic Read on 21 Jul 2026.
What is BazaarBaazi's Crack Score for THERMAX?
The BazaarBaazi Crack Score for THERMAX is 87 out of 100 as of 21 Jul 2026, a high conviction reading. It is a computed conviction number from the signed stance, how consistent the recent verdicts have been, the quality of the printed structure, and how fresh the review is. It is a transparency signal, not investment advice.
What is the F&O view on THERMAX?
Strike-level option inventory for THERMAX is unavailable, so BazaarBaazi withholds participant, direction and positioning claims. The editorial chart stance is not substituted for an option-chain observation.
What sector is THERMAX in and which peers does BazaarBaazi track?
THERMAX sits in Capital Goods (mid cap), indicative market cap ~54,573 cr (indicative), ISIN INE152A01029. The peers BazaarBaazi reads alongside it are USHA MARTIN LIMITED, AIA Engineering Limited, Premier Energies Limited. A systematic, data-only read on THERMAX LIMITED: where it trades versus its 50-day and 200-day lines, the live 52-week range, and momentum, refreshed from the scanner's real price series each run.
How often is the THERMAX view updated?
This page is one evergreen URL refreshed in place. The Crack Score and levels re-compute on every BazaarBaazi end-of-day run, and the dated stamp shows the last refresh. The latest signed verdict on THERMAX is bullish, published in Systematic Read on 21 Jul 2026.
Is THERMAX a qualifying setup on the BazaarBaazi scanner right now?
On the 2026-07-21 run of the 500-name BazaarBaazi setup scanner, THERMAX LIMITED sits in the Scanned tier with a setup score of 68/100 (technical 100, fundamental 0). The scanner is a deterministic engine over real OHLCV and official filings, refreshed nightly, and it is a signal rather than investment advice.
Where can I read THERMAX LIMITED's earnings call transcripts?
BazaarBaazi indexes 8 THERMAX earnings calls going back to 2021-06-30, latest 2026-05-31. Every entry on this page links straight to the transcript PDF the company filed with the exchange, so you read management in the primary source.
What was THERMAX LIMITED's Q4 FY26 net profit?
THERMAX LIMITED reported a net profit of Rs 244 cr for Q4 FY26 (the quarter ended 31 March 2026). The figure is from the company's official NSE filing.
What was THERMAX LIMITED's Q4 FY26 revenue?
THERMAX LIMITED reported revenue of Rs 3,428 cr for Q4 FY26. The figure is from the company's official NSE filing.
How does BazaarBaazi rate THERMAX LIMITED's Q4 FY26 result?
BazaarBaazi gives THERMAX LIMITED's Q4 FY26 result a Result Pulse of 0 out of 100, with a verdict of Insufficient data. The Result Pulse is a BazaarBaazi editorial score for the quality of the filed result, not investment advice.
What has Thermax Ltd announced recently?
The most recent official filing on record for Thermax Ltd is an earnings dated 31 Mar 2026. It is the company's own earnings disclosure to the exchange, and it links to that filing on the BazaarBaazi stock page rather than to any third-party summary.
Related stock views
The names BazaarBaazi reads alongside THERMAX, each a living view refreshed every end-of-day run.