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Thermax Limited (THERMAX) Financial History

4 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

Industrials · Conglomerates · DATA UPDATED 2026-09-20

Thermax Limited (THERMAX) operates in the Conglomerates industry and is headquartered in Pune, India with about 3,962 employees. Its market capitalization is roughly ₹400 billion. In the fiscal year ended 2026-03-31, THERMAX reported ₹106.4B in revenue and ₹7.2B in net income.

Thermax Limited provides energy, environmental, and chemical solutions in India and internationally. It operates in Industrial Products, Industrial Infra, Green Solutions, and Chemical segments.

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THERMAX Revenue & Earnings History — Annual Income Statement

Income statement2026-03-312025-03-312024-03-312023-03-312022-03-31
Total Revenue₹106.4B₹102.7B₹92.4B₹80.3B
Gross Profit₹48.3B₹42.5B₹37.9B₹31.8B
Operating Income (EBIT)₹9.5B₹8.5B₹6.8B₹5.3B
Net Income₹7.2B₹6.3B₹6.5B₹4.5B

INR; ₹M / ₹B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

THERMAX Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-31
Total Revenue₹23.0B₹34.3B₹26.3B₹24.7B₹21.0B
Gross Profit₹10.8B₹16.2B₹12.6B₹11.6B₹10.3B
Operating Income (EBIT)₹372M₹7.7B₹2.0B₹1.2B₹1.8B
Net Income₹252M₹2.4B₹2.0B₹1.2B₹1.5B

INR; ₹M / ₹B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

THERMAX Free Cash Flow History

Cash flow2026-03-312025-03-312024-03-312023-03-31
Dividends Paid(₹1.6B)(₹1.4B)(₹1.1B)(₹1.0B)

INR; ₹M / ₹B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

THERMAX Balance Sheet History

Balance sheet2026-03-312025-03-312024-03-312023-03-312022-03-31
Total Assets₹132.8B₹114.1B₹101.5B₹88.4B
Total Liabilities₹77.0B₹64.7B₹57.1B₹49.7B

INR; ₹M / ₹B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive THERMAX viewer.

THERMAX Metric Deep Dives

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