Thermax Limited
Thermax Limited provides energy, environmental, and chemical solutions in India and internationally. It operates in Industrial Products, Industrial Infra, Green Solutions, and Chemical segments. The Industrial Products segment offers manufacturing, installation, sales and services related to boilers and heating equipment, absorption chillers/heat pumps, air pollution control equipment/ systems, w… Read more
Market Cap & Net Worth: Thermax Limited (THERMAX)
Thermax Limited (NSE:THERMAX) has a market capitalization of $4.21 Billion (₹364.80 Billion) as of March 18, 2026. Listed on the NSE stock exchange, this India-based company holds position #6534 globally and #229 in its home market, demonstrating a 5.67% increase in market value over the past year.
Market capitalization, also known as net worth in stock markets, is calculated by multiplying Thermax Limited's stock price ₹3238.40 by its total outstanding shares 112648438 (112.65 Million).
Thermax Limited Market Cap History: 2015 to 2026
Thermax Limited's market capitalization history from 2015 to 2026. Data shows growth from $1.11 Billion to $4.21 Billion (14.14% CAGR).
Index Memberships
Thermax Limited is a constituent of 5 market indices:
| Index | Total Market Cap | Weight (%) | Rank by Market Cap |
|---|---|---|---|
|
NIFTY ENERGY
CNXENERGY
|
$150.33 Billion | 0.81% | #24 of 40 |
|
NIFTY 500
NIFTY500
|
$1.27 Trillion | 0.10% | #215 of 500 |
|
NIFTY MIDCAP 150
NIFTYMIDCAP150
|
$342.58 Billion | 0.36% | #98 of 150 |
|
NIFTY MIDSMALLCAP 400
NIFTYMIDSML400
|
$535.73 Billion | 0.23% | #133 of 400 |
|
NIFTY TOTAL MARKET
NIFTYTOTALMKT
|
$1.32 Trillion | 0.09% | #211 of 750 |
Weight: Thermax Limited's market cap as a percentage of total index value. Rank: Position among all constituents by market cap.
Thermax Limited Market Cap to Earnings & Revenue Ratios Timeline
This chart shows how Thermax Limited's valuation ratios have evolved. The Price to Sales (P/S) ratio compares market cap to revenue, while the Price to Earnings (P/E) ratio compares market cap to net income. Lower values may indicate a more undervalued company relative to its financial performance.
Latest Price to Sales (P/S) Ratio
0.04x
Thermax Limited's market cap is 0.04 times its annual revenue
0.20x
Lower than industry averageLatest Price to Earnings (P/E) Ratio
0.62x
Thermax Limited's market cap is 0.62 times its annual earnings
3.50x
Lower than industry averageWhat These Ratios Tell Investors:
- Price to Sales (P/S) Ratio: Shows how much investors are paying for each dollar of the company's sales. Lower P/S ratios may indicate undervaluation.
- Price to Earnings (P/E) Ratio: Shows how much investors are paying for each dollar of the company's earnings. This is one of the most common valuation metrics.
- Trends in these ratios over time can indicate changing investor sentiment about the company's future growth prospects.
- Industry comparison provides context for whether the company is valued higher or lower than peers.
| Year | Market Cap (USD) | Revenue (USD) | Net Income (USD) | P/S Ratio | P/E Ratio |
|---|---|---|---|---|---|
| 2016 | $921.88 Million | $54.25 Billion | $2.82 Billion | 0.02x | 0.33x |
| 2017 | $1.57 Billion | $43.86 Billion | $2.23 Billion | 0.04x | 0.70x |
| 2018 | $1.43 Billion | $43.70 Billion | $2.32 Billion | 0.03x | 0.61x |
| 2019 | $1.39 Billion | $58.86 Billion | $3.25 Billion | 0.02x | 0.43x |
| 2020 | $1.17 Billion | $56.55 Billion | $2.12 Billion | 0.02x | 0.55x |
| 2021 | $2.30 Billion | $47.37 Billion | $2.07 Billion | 0.05x | 1.11x |
| 2022 | $2.53 Billion | $60.96 Billion | $3.12 Billion | 0.04x | 0.81x |
| 2023 | $3.99 Billion | $80.34 Billion | $4.50 Billion | 0.05x | 0.89x |
| 2024 | $5.25 Billion | $92.37 Billion | $6.45 Billion | 0.06x | 0.81x |
| 2025 | $3.93 Billion | $103.89 Billion | $6.34 Billion | 0.04x | 0.62x |
Competitor Companies of THERMAX by Market Capitalization
Companies near Thermax Limited in the global market cap rankings as of March 18, 2026.
Key companies related to Thermax Limited by market ranking:
- Honeywell International Inc (NASDAQ:HON): Ranked #132 globally with a market cap of $139.62 Billion USD.
- Mitsui & Company Ltd (PINK:MITSY): Ranked #193 globally with a market cap of $101.34 Billion USD.
- Hitachi Ltd (PINK:HTHIF): Ranked #238 globally with a market cap of $86.13 Billion USD.
- 3M Company (NYSE:MMM): Ranked #262 globally with a market cap of $78.38 Billion USD.
| Rank | Company | Symbol | Market Cap | Price |
|---|---|---|---|---|
| #132 | Honeywell International Inc | NASDAQ:HON | $139.62 Billion | $231.42 |
| #193 | Mitsui & Company Ltd | PINK:MITSY | $101.34 Billion | $400.07 |
| #238 | Hitachi Ltd | PINK:HTHIF | $86.13 Billion | $20.13 |
| #262 | 3M Company | NYSE:MMM | $78.38 Billion | $149.06 |
Thermax Limited Historical Marketcap From 2015 to 2026
Between 2015 and today, Thermax Limited's market cap moved from $1.11 Billion to $ 4.21 Billion, with a yearly change of 14.14%.
| Year | Market Cap | Change (%) |
|---|---|---|
| 2026 | ₹4.21 Billion | +7.14% |
| 2025 | ₹3.93 Billion | -25.18% |
| 2024 | ₹5.25 Billion | +31.66% |
| 2023 | ₹3.99 Billion | +57.71% |
| 2022 | ₹2.53 Billion | +9.90% |
| 2021 | ₹2.30 Billion | +97.39% |
| 2020 | ₹1.17 Billion | -15.78% |
| 2019 | ₹1.39 Billion | -2.82% |
| 2018 | ₹1.43 Billion | -8.94% |
| 2017 | ₹1.57 Billion | +69.78% |
| 2016 | ₹921.88 Million | -17.12% |
| 2015 | ₹1.11 Billion | -- |
End of Day Market Cap According to Different Sources
On Mar 18th, 2026 the market cap of Thermax Limited was reported to be:
| Source | Market Cap |
|---|---|
| Yahoo Finance | $4.21 Billion USD |
| MoneyControl | $4.21 Billion USD |
| MarketWatch | $4.21 Billion USD |
| marketcap.company | $4.21 Billion USD |
| Reuters | $4.21 Billion USD |
Market cap values may vary slightly between sources due to differences in calculation methods, timing, and data refresh rates.