THERMAXHeavy Electrical Equipment
Thermax Ltd — PE Ratio & Valuation Analysis
₹3260.70
-1.61%
Current P/E58.52xPrice to earnings
Industry P/E47.05xSector average
4Y Avg P/E68.1x14.0% below avg
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24.4% Premium to Industry
THERMAX P/E 58.52x vs sector avg 47.05x
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Historical PE Ratio
| Year | EPS (₹) | Year-end Price | PE Ratio |
|---|---|---|---|
| 2025 | ₹56.31 | ₹3023 | 53.7x |
| 2024 | ₹57.28 | ₹4040 | 70.5x |
| 2023 | ₹39.97 | ₹3082 | 77.1x |
| 2022 | ₹27.73 | ₹1968 | 71x |
PE = Year-end closing price ÷ Diluted EPS. Source: NSE/BSE filings.
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Understanding Thermax Ltd Valuation
Thermax Ltd (THERMAX) currently trades at 58.52x earnings. The Heavy Electrical Equipment sector average PE is 47.05x. THERMAX commands a premium, reflecting high growth expectations. Historically, THERMAX has traded at an average PE of 68.1x — it is currently below that level. Always evaluate PE alongside earnings growth (PEG ratio), return on equity, debt levels and business quality. A lower PE isn't always better. Educational data only — not investment advice.
ROE
13.57%
Dividend Yield
0.48%
More on Thermax Ltd
Data from NSE/BSE public filings. Educational purposes only. Bull Run is not SEBI-registered. Not investment advice.