Thermax
Conglomerates · THERMAX
Large CapIndustrialsHigh Growth
Ashish Bhandari
Managing Director and CEO · Transformational
Company DNA
Performance-Driven
About
Thermax is a Large Cap company in the Industrials sector, listed on NSE as THERMAX. With a market cap of ₹37K Cr and revenue of ₹10K Cr, it is currently in the High Growth phase. Known for its Performance-Driven culture and Fast-Follower approach to innovation, the company operates at a Steady-Marathon pace. Professionalized corporate environment with a strong emphasis on engineering excellence and market performance metrics. Its strategic mandate: The global shift toward green energy presents a major opportunity for Thermax to pivot its legacy equipment portfolio toward sustainable technology leadership.
FAQ
What kind of company is Thermax?
Thermax is a Large Cap Industrials company (THERMAX) in the High Growth phase with a market cap of ₹37K Cr. It is classified as Performance-Driven in culture.
What is Thermax's culture and work environment like?
Thermax has a Performance-Driven culture with Fast-Follower innovation DNA and a Steady-Marathon pace of execution. Employee brand: Learning Ground. Customer relationship style: B2B-Enterprise. Professionalized corporate environment with a strong emphasis on engineering excellence and market performance metrics.
Who leads Thermax?
Thermax is led by Ashish Bhandari (Managing Director and CEO), a Transformational leader with 32 years of experience.
What are Thermax's financials?
Thermax reported revenue of ₹10K Cr in FY25 with a 5-year revenue CAGR of 19.1%. Operating margin: 8%. Market cap: ₹37K Cr.
Culture & Strategy
CulturePerformance-Driven
InnovationFast-Follower
PaceSteady-Marathon
PurposePurpose-Blended
CustomerB2B-Enterprise
EmployeeLearning Ground
BrandTechnical-Expert
LifecycleHigh Growth
Professionalized corporate environment with a strong emphasis on engineering excellence and market performance metrics.
Mandate
The global shift toward green energy presents a major opportunity for Thermax to pivot its legacy equipment portfolio toward sustainable technology leadership.
The global shift toward green energy presents a major opportunity for Thermax to pivot its legacy equipment portfolio toward sustainable technology leadership.
Financials
Revenue FY25₹10K Cr
PAT FY25₹634 Cr
Rev CAGR 5Y19.1%
OPM8%
NPM6.2%
ROE12.9%
ROCE12.8%
P/E53.2
Fwd P/E44.3
P/B7.2
D/E35.8
Mkt Cap₹37K Cr
Promoter73.7%
Institutional20.8%
Similar Culture
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