{"id":227317,"date":"2026-09-02T11:44:39","date_gmt":"2026-09-02T06:14:39","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=227317"},"modified":"2026-10-21T12:13:10","modified_gmt":"2026-10-21T06:43:10","slug":"why-thermax-share-price-fall-today-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/","title":{"rendered":"Thermax (THERMAX) Share Price Falls 2.66% as Thermax Trades at Rs 3,148.4"},"content":{"rendered":"<div class=\"univest-blue-summary\" style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:12px 16px;margin:0 0 18px 0;font-style:italic;\"><em><a href=\"https:\/\/univest.in\/stocks\/thermax\/thermax-ltd-share-price-today\">Thermax (THERMAX)<\/a> share price fell to Rs 3,148.4 today, down 2.66% from the previous close. Market cap was Rs 38,542.3 crore.<\/em><\/div>\n<p style=\"margin-top:0!important;\">Thermax Share Price is lower today as Thermax traded at Rs 3,148.4, down 2.66% from the previous close, with a market capitalisation of Rs 38,542.3 crore. According to latest Univest figures, the move is visible in the stock\u2019s intraday range and places Thermax Share Price in focus for investors tracking Capital Goods names. The latest Univest data shows a same-day decline, but no company-specific catalyst is established. In Thermax Share Price news, the stock is drawing attention because the fall comes alongside a rich valuation, a sector benchmark that can be compared directly, and a peer set with varied profitability profiles. For readers following Thermax Share Price today, the key question is not only the fall itself, but what the price action and fundamentals together indicate.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Thermax_THERMAX_Share_Price_Today_Price_Action_Analysis\" title=\"Thermax (THERMAX) Share Price Today: Price Action Analysis\">Thermax (THERMAX) Share Price Today: Price Action Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Thermax_THERMAX_Fundamental_Analysis\" title=\"Thermax (THERMAX) Fundamental Analysis\">Thermax (THERMAX) Fundamental Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Sector_and_Industry_Context\" title=\"Sector and Industry Context\">Sector and Industry Context<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Peer_Comparison\" title=\"Peer Comparison\">Peer Comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Why_Investors_Are_Watching_Thermax\" title=\"Why Investors Are Watching Thermax\">Why Investors Are Watching Thermax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#About_Thermax\" title=\"About Thermax\">About Thermax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Track_Thermax_Share_Price_on_Univest\" title=\"Track Thermax Share Price on Univest\">Track Thermax Share Price on Univest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Why_did_Thermax_Share_Price_fall_today\" title=\"Why did Thermax Share Price fall today?\">Why did Thermax Share Price fall today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#What_is_Thermax_Share_Price_today\" title=\"What is Thermax Share Price today?\">What is Thermax Share Price today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#How_much_did_Thermax_Share_Price_decline\" title=\"How much did Thermax Share Price decline?\">How much did Thermax Share Price decline?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#What_is_Thermax_market_capitalisation\" title=\"What is Thermax market capitalisation?\">What is Thermax market capitalisation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Is_Thermax_Share_Price_expensive_compared_with_peers\" title=\"Is Thermax Share Price expensive compared with peers?\">Is Thermax Share Price expensive compared with peers?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#How_do_Thermaxs_ROE_and_ROCE_compare_with_the_industry\" title=\"How do Thermax\u2019s ROE and ROCE compare with the industry?\">How do Thermax\u2019s ROE and ROCE compare with the industry?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#What_is_Thermax_EPS_and_book_value\" title=\"What is Thermax EPS and book value?\">What is Thermax EPS and book value?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Does_Thermax_pay_a_dividend\" title=\"Does Thermax pay a dividend?\">Does Thermax pay a dividend?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/why-thermax-share-price-fall-today-2026\/#Which_peers_are_relevant_for_Thermax_Share_Price_comparison\" title=\"Which peers are relevant for Thermax Share Price comparison?\">Which peers are relevant for Thermax Share Price comparison?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Thermax_THERMAX_Share_Price_Today_Price_Action_Analysis\"><\/span><strong>Thermax (THERMAX) Share Price Today: Price Action Analysis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"width:100%;border-collapse:collapse;margin:16px 0 22px 0;\">\n<thead>\n<tr>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:10px 12px;background:#F7F9FC;\">Metric<\/th>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:10px 12px;background:#F7F9FC;\">Value<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Current Price<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 3,148.4<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Previous Close<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 3,234.6<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Today&#39;s Move<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">-Rs 86.20 (-2.66%)<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Open<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 3,247.3<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>High<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 3,248.8<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Low<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 3,148<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Market Capitalisation<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 38,542.3 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Market Cap Category<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Large Cap<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Thermax Share Price opened at Rs 3,247.3, touched a high of Rs 3,248.8 and a low of Rs 3,148, before last trading at Rs 3,148.4. That is Rs 86.2 below the previous close of Rs 3,234.6, which equals a 2.66% decline. In market-cap terms, Thermax stands at Rs 38,542.3 crore and is classified as a Large Cap. For Thermax Share Price today, the range is narrow relative to the open, with the low matching the current print almost exactly. This makes the day\u2019s price action clear without needing speculation. As of 21 October 2026 at 11:53:17 AM IST, Thermax Share Price remains a live intraday event, and the next layer of context comes from valuation and operating ratios rather than from any unverified trigger.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Thermax_THERMAX_Fundamental_Analysis\"><\/span><strong>Thermax (THERMAX) Fundamental Analysis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"width:100%;border-collapse:collapse;margin:16px 0 22px 0;\">\n<thead>\n<tr>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:10px 12px;background:#F7F9FC;\">Metric<\/th>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:10px 12px;background:#F7F9FC;\">Value<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Market Capitalisation<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 38,542.3 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>P\/E Ratio<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">64.96x<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>P\/B Ratio<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">6.93x<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>ROE<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">13.76%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>ROCE<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">15.85%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>EPS<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 49.8<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Book Value Per Share<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 467.02<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Dividend Yield<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">0.62%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Thermax (THERMAX) fundamental metrics show P\/E 64.96x, P\/B 6.93x, ROE 13.76%, ROCE 15.85%. Taken on their own, these numbers offer context rather than a trading signal.<\/p>\n<p>Thermax has a market capitalisation of Rs 38,542.30 crore and falls in the Large Cap category, which gives readers a sense of company size before judging valuation. On valuation, P\/E at 64.96x, P\/B at 6.93x should be read against the sector and peer benchmarks rather than as a standalone signal. Profitability is represented by ROE of 13.76% and ROCE of 15.85%, helping investors compare shareholder returns and capital efficiency. According to latest Univest data, additional metrics include EPS of Rs 49.8, book value per share of Rs 467.02, dividend yield of 0.62%, adding context to earnings, balance-sheet value and historical payout. Against the latest Univest same industry benchmark, these figures can be compared with benchmark median P\/E of 28.31x, median ROE of 13.51%, median ROCE of 15.96%. They set out the fundamental picture and are not a rating on the stock.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sector_and_Industry_Context\"><\/span><strong>Sector and Industry Context<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"width:100%;border-collapse:collapse;margin:16px 0 22px 0;\">\n<thead>\n<tr>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:10px 12px;background:#F7F9FC;\">Metric<\/th>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:10px 12px;background:#F7F9FC;\">Value<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Sector<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Capital Goods<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Industry<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Engineering &#8211; Industrial Equipments<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Scope<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">same industry<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Company P\/E Ratio<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">64.96x<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Median P\/E<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">28.31x<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Average P\/E<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">51.72x<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark P\/E Range<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">0.75x to 721.38x<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Company P\/B Ratio<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">6.93x<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Median P\/B<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">2.96x<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Average P\/B<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">8.93x<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Company ROE<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">13.76%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Median ROE<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">13.51%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Average ROE<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">18.65%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Company ROCE<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">15.85%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Median ROCE<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">15.96%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Average ROCE<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">18.38%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Company Market Capitalisation<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 38,542.3 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Median Market Cap<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 343.94 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\"><strong>Benchmark Average Market Cap<\/strong><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:10px 12px;\">Rs 2,729.72 crore<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Thermax (THERMAX) operates in the Capital Goods sector, within the Engineering &#8211; Industrial Equipments industry.<\/p>\n<p>Thermax (THERMAX) has a P\/E ratio of 64.96x, which is above the benchmark median of 28.31x, a difference of +129.46%. P\/E is a valuation multiple and is not, by itself, a buy or sell signal.<\/p>\n<p>Thermax (THERMAX) has a ROE of 13.76%, which is above the benchmark median of 13.51%, a difference of +1.85%. Thermax (THERMAX) has a ROCE of 15.85%, which is below the benchmark median of 15.96%, a difference of -0.69%.<\/p>\n<p>Track stocks among today&#39;s decliners through the <a href=\"https:\/\/univest.in\/screeners\/top-decliners\">Univest top decliners screener<\/a>. The peer table below provides the company-level comparison.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Peer_Comparison\"><\/span><strong>Peer Comparison<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"width:100%;border-collapse:collapse;margin:16px 0 22px 0;\">\n<thead>\n<tr>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:8px;background:#F7F9FC;\">Company<\/th>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:8px;background:#F7F9FC;\">Symbol<\/th>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:8px;background:#F7F9FC;\">Market Cap (Cr)<\/th>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:8px;background:#F7F9FC;\">P\/E<\/th>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:8px;background:#F7F9FC;\">P\/B<\/th>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:8px;background:#F7F9FC;\">ROE (%)<\/th>\n<th style=\"text-align:left;border:1px solid #E3E7EE;padding:8px;background:#F7F9FC;\">ROCE (%)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/bhel\/bharat-heavy-electricals-ltd-share-price-today\" style=\"color:#0645AD;text-decoration:underline;\"><strong>Bharat Heavy Electricals<\/strong><\/a><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">BHEL<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">1,48,858.21<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">51.71<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">5.56<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">6.29<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">9.24<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/jyoticnc\/jyoti-cnc-automation-ltd-share-price-today\" style=\"color:#0645AD;text-decoration:underline;\"><strong>Jyoti CNC Automation<\/strong><\/a><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">JYOTICNC<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">22,174.89<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">68.93<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">10.77<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">18.22<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">21.34<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/inoxindia\/inox-india-ltd-share-price-today\" style=\"color:#0645AD;text-decoration:underline;\"><strong>Inox India<\/strong><\/a><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">INOXINDIA<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">18,210.4<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">71.46<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">15.62<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">26.11<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">33.54<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/azad\/azad-engineering-ltd-share-price-today\" style=\"color:#0645AD;text-decoration:underline;\"><strong>Azad Engineering<\/strong><\/a><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">AZAD<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">17,369.91<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">124.98<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">11.11<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">9.14<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">12.04<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/triturbine\/triveni-turbine-ltd-share-price-today\" style=\"color:#0645AD;text-decoration:underline;\"><strong>Triveni Turbine<\/strong><\/a><\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">TRITURBINE<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">15,418.17<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">45.85<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">10.32<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">26.32<\/td>\n<td style=\"border:1px solid #E3E7EE;padding:8px;\">35.95<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Thermax (THERMAX) has a P\/E ratio of 64.96x compared with the displayed peer median of 68.93x. The comparison is relative and should not be read as a recommendation. Its ROE of 13.76% compares with a peer median of 18.22% across the companies shown in the table. ROCE stood at 15.85% versus the displayed peer median of 21.34%, providing a capital-efficiency comparison. Thermax (THERMAX) has a market capitalisation of Rs 38,542.3 crore. Among the 5 peers shown, 1 has a larger market capitalisation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Investors_Are_Watching_Thermax\"><\/span><strong>Why Investors Are Watching Thermax<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Thermax Share Price fell 2.66% in the latest session, taking the stock to Rs 3,148.4.<\/li>\n<li>Thermax Share Price trades at a P\/E of 64.96 and P\/B of 6.93, which keeps valuation in focus.<\/li>\n<li>ROE of 13.76% and ROCE of 15.85% place the company near the industry midpoint on returns.<\/li>\n<li>Market capitalisation of Rs 38,542.3 crore keeps Thermax Share Price in the Large Cap category.<\/li>\n<li>Thermax Share Price is moving within a Capital Goods sector where peer valuations and return ratios vary widely.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"About_Thermax\"><\/span><strong>About Thermax<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thermax operates in the Capital Goods sector and the Engineering &#8211; Industrial Equipments industry. For Thermax Share Price readers, that means the company is tracked within a space shaped by industrial demand, equipment execution and project-linked business cycles. The latest Univest figures place Thermax among larger listed companies in this industry by market capitalisation. In this note, no extra business lines or segment detail is added beyond what is verified. The focus remains on Thermax Share Price, the company\u2019s sector placement and the valuation framework visible from the numbers here. That is enough to understand why the stock often appears in industrial stock news and fundamental analysis discussions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Track_Thermax_Share_Price_on_Univest\"><\/span><strong>Track Thermax Share Price on Univest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Use <a href=\"https:\/\/univest.in\/stocks\/thermax\/thermax-ltd-share-price-today\">Thermax (THERMAX) live share-price page<\/a>, <a href=\"https:\/\/univest.in\/screeners\/top-decliners\">Univest top decliners screener<\/a>, <a href=\"https:\/\/univest.in\/blogs\">Univest market blogs<\/a> to review live stock data, top decliners and related market analysis.<\/p>\n<p>You can track Thermax Share Price on Univest for live price updates, key valuation ratios, market capitalisation, 52-week levels and broader market insights. The platform also helps readers compare Thermax Share Price with sector peers and follow company-level fundamentals in one place. For investors who monitor Thermax Share Price today, that combination of price action and ratio context is often the most useful starting point.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Uniresearch Global Pvt. Ltd. (Research Analyst, SEBI Reg. No. INH000013776, a subsidiary of Univest Communication Technologies Private Limited).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_Thermax_Share_Price_fall_today\"><\/span><strong>Why did Thermax Share Price fall today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong>&nbsp;Thermax Share Price fell 2.66% to Rs 3,148.4, but no company-specific catalyst is established in the verified data. The move is confirmed by the gap from the previous close and the intraday low near the last traded price.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Thermax_Share_Price_today\"><\/span><strong>What is Thermax Share Price today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong>&nbsp;Thermax Share Price was at Rs 3,148.4 in the latest trade, down Rs 86.2 from the previous close of Rs 3,234.6. The stock traded between Rs 3,148 and Rs 3,248.8 during the session.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_did_Thermax_Share_Price_decline\"><\/span><strong>How much did Thermax Share Price decline?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong>&nbsp;Thermax Share Price declined by 2.66% in the latest session. In absolute terms, the share price fell Rs 86.2 from the previous close, which is a clear same-day move rather than a multi-session trend.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Thermax_market_capitalisation\"><\/span><strong>What is Thermax market capitalisation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong>&nbsp;Thermax has a market capitalisation of Rs 38,542.3 crore. That places it in the Large Cap category and makes it one of the larger companies in the Engineering &#8211; Industrial Equipments industry.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Thermax_Share_Price_expensive_compared_with_peers\"><\/span><strong>Is Thermax Share Price expensive compared with peers?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong>&nbsp;Thermax Share Price trades at 64.96 times earnings and 6.93 times book value. That is above the industry benchmark median P\/E of 28.31 and above the peer median P\/B of 10.32 among the named companies.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_do_Thermaxs_ROE_and_ROCE_compare_with_the_industry\"><\/span><strong>How do Thermax\u2019s ROE and ROCE compare with the industry?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong>&nbsp;Thermax reports ROE of 13.76% and ROCE of 15.85%. ROE is slightly above the industry benchmark median of 13.51%, while ROCE is just below the median of 15.96% in the same industry set.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Thermax_EPS_and_book_value\"><\/span><strong>What is Thermax EPS and book value?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong>&nbsp;Thermax EPS is Rs 49.8 and book value is Rs 467.02 per share. EPS shows earnings attributable to each share, while book value indicates the accounting net worth behind each share for Thermax Share Price analysis.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Does_Thermax_pay_a_dividend\"><\/span><strong>Does Thermax pay a dividend?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong>&nbsp;Thermax has a dividend yield of 0.62%. That figure reflects the historical payout relative to the current price and is useful when comparing Thermax Share Price with other industrial names that carry different income profiles.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_peers_are_relevant_for_Thermax_Share_Price_comparison\"><\/span><strong>Which peers are relevant for Thermax Share Price comparison?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong>&nbsp;Relevant peers in the same industry include BHEL, Jyoti CNC Automation, Inox India and Triveni Turbine. Their valuation and return ratios show that Thermax Share Price sits between lower-return and higher-return industrial peers.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why did Thermax Share Price fall today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Thermax Share Price fell 2.66% to Rs 3,148.4, but no company-specific catalyst is established in the verified data. The move is confirmed by the gap from the previous close and the intraday low near the last traded price.\"}},{\"@type\":\"Question\",\"name\":\"What is Thermax Share Price today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Thermax Share Price was at Rs 3,148.4 in the latest trade, down Rs 86.2 from the previous close of Rs 3,234.6. 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That figure reflects the historical payout relative to the current price and is useful when comparing Thermax Share Price with other industrial names that carry different income profiles.\"}},{\"@type\":\"Question\",\"name\":\"Which peers are relevant for Thermax Share Price comparison?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Relevant peers in the same industry include BHEL, Jyoti CNC Automation, Inox India and Triveni Turbine. Their valuation and return ratios show that Thermax Share Price sits between lower-return and higher-return industrial peers.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Thermax Share Price fell 2.66% to Rs 3,148.40 today. Market cap stands at Rs 38,542.30 crore.<\/p>\n","protected":false},"author":35,"featured_media":319714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[],"class_list":["post-227317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["319714"],"rank_math_title":["Thermax Share Price Falls 2.66%: Price Action, Valuation"],"rank_math_description":["Thermax Share Price fell 2.66% to Rs 3,148.4. Read today\u2019s price action, valuation metrics, sector context and peer comparison."],"rank_math_focus_keyword":["Thermax Share Price"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/Thermax_THERMAX_Share_Price_Falls_266_as_Thermax_Trades_at_Rs_31484_bearish.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/227317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=227317"}],"version-history":[{"count":10,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/227317\/revisions"}],"predecessor-version":[{"id":319715,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/227317\/revisions\/319715"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/319714"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=227317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=227317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=227317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}