Thermax (THERMAX) Share Price Falls 4.09% Today; Key Levels, Valuation and Sector Context

Thermax Share Price fell to Rs 3,529.75 on 15 September 2026, down 4.09% or Rs 150.50 for the day, taking the company’s market capitalisation to Rs 43,852.50 crore. The stock opened at Rs 3,719.95, which also marked the day’s high, and then slipped to an intraday low of Rs 3,527.10. Turnover stood at Rs 1.27 crore at the time captured by the supplied data.

For investors tracking Thermax Share Price Today and Thermax Stock News, the verified data clearly confirms a meaningful single-session decline in a Large Cap capital goods stock. The numbers show weak intraday price action from the opening tick, with the stock unable to hold above the previous close of Rs 3,680.25. The supplied data confirms the price event but does not establish a company-specific catalyst for why the stock is falling today.

That is why the market is watching this move closely. Beyond the day’s decline, investors will likely monitor whether Thermax can stabilise near current levels, how its valuation compares with industry benchmarks, and whether its profitability metrics justify continued attention. Univest examines the day’s price move, technical position and fundamental context using only the supplied figures.

Thermax (THERMAX) Share Price Today: Price Action Analysis

Metric	Value
Current Price	Rs 3,529.75
Previous Close	Rs 3,680.25
Today's Move	-Rs 150.50 (-4.09%)
Open	Rs 3,719.95
High	Rs 3,719.95
Low	Rs 3,527.1
Turnover	Rs 1.27 crore
Market Capitalisation	Rs 43,852.5 crore
Market Cap Category	Large Cap

Thermax Share Price Today reflects a clear intraday decline, with the stock opening at Rs 3,719.95 and never moving above that level during the session. That means the opening price was also the day’s high, while the intraday low of Rs 3,527.10 shows sellers remained in control for most of the trading window captured here.

Compared with the previous close of Rs 3,680.25, the stock was down Rs 150.50, or 4.09%, to Rs 3,529.75. The gap between the day’s high of Rs 3,719.95 and low of Rs 3,527.10 also underlines a sharp downward move within the session. With turnover at Rs 1.27 crore and the company classified as a Large Cap, this was a notable Thermax Share Price Fall even without a verified company-specific trigger in the supplied data.

For readers following Thermax Share News and Thermax Share Price Update, the session so far shows weakness from the open and no recovery back toward the previous close. The next step is to check whether the broader technical setup also points to weak momentum or a more mixed picture.

Thermax (THERMAX) Fundamental Analysis

Metric	Value
Market Capitalisation	Rs 43,852.5 crore
P/E Ratio	73.91x
P/B Ratio	7.88x
ROE	13.76%
ROCE	15.85%
EPS	Rs 49.8
Book Value Per Share	Rs 467.02
Dividend Yield	0.54%

Thermax Fundamental Analysis shows a business that still carries a premium valuation despite today’s decline. At the current price, the stock trades at a P/E ratio of 73.91 and a P/B ratio of 7.88, while market capitalisation stands at Rs 43,852.50 crore. Those metrics place Thermax among the larger names in its industry, but size alone does not answer whether the valuation is demanding.

On profitability, the company’s ROE is 13.76% and ROCE is 15.85%. These are important because they indicate how efficiently the business has generated returns on shareholder equity and capital employed. EPS is Rs 49.80, which represents the earnings attributable to each share, while book value per share is Rs 467.02, showing the accounting net worth behind each share. Dividend yield stands at 0.54%, which gives a current indication of payout relative to the market price.

For investors scanning Thermax Financial Results, Thermax Earnings and Thermax Stock Analysis, the supplied fundamentals suggest a profitable company with moderate return ratios, but one that is still trading at elevated valuation multiples. That makes the sector benchmark and peer comparison especially relevant. Univest therefore turns next to industry context rather than any rating or forecast.

Sector and Industry Context

Metric	Value
Sector	Capital Goods
Industry	Engineering – Industrial Equipments
Benchmark Scope	same industry
Company P/E Ratio	73.91x
Benchmark Median P/E	29.81x
Benchmark Average P/E	83.35x
Benchmark P/E Range	0.49x to 4,991.73x
Company P/B Ratio	7.88x
Benchmark Median P/B	2.79x
Benchmark Average P/B	9.46x
Company ROE	13.76%
Benchmark Median ROE	13.76%
Benchmark Average ROE	19.98%
Company ROCE	15.85%
Benchmark Median ROCE	15.87%
Benchmark Average ROCE	18.83%
Company Market Capitalisation	Rs 43,852.5 crore
Benchmark Median Market Cap	Rs 347.26 crore
Benchmark Average Market Cap	Rs 2,866.42 crore

Thermax operates in the Capital Goods sector and the Engineering – Industrial Equipments industry. The industry benchmark supplied here covers 164 companies in the same industry, which helps place the stock’s valuation and return profile in a broader context rather than viewing today’s decline in isolation.

The most striking comparison is on valuation. Thermax’s company P/E of 73.91 is far above the industry median P/E of 29.81, though still below the industry average of 83.35. The industry P/E range is very wide, from 0.49 to 4,991.73, based on 144 companies with available P/E data. On price-to-book, Thermax’s P/B of 7.88 is above the industry median of 2.79 but below the industry average of 9.46, within a range of -93.79 to 963.64 across 164 companies.

Profitability is more balanced. Thermax’s ROE of 13.76% is exactly in line with the industry median ROE of 13.76% but below the average of 19.98% across 161 companies. Its ROCE of 15.85% is marginally below the median of 15.87% and below the average of 18.83%, also across 161 companies. In size terms, Thermax Market Cap of Rs 43,852.50 crore is well above the industry median market capitalisation of Rs 347.26 crore and the average of Rs 2,866.42 crore, though below the maximum of Rs 1,49,937.65 crore. Univest reads that mix as premium valuation with broadly median return metrics within the same industry.

Peer Comparison

Company	Symbol	Market Cap (Cr)	P/E	P/B	ROE (%)	ROCE (%)
Bharat Heavy Electricals	BHEL	1,49,937.65	61.64	5.66	6.29	9.24
Jyoti CNC Automation	JYOTICNC	22,468.26	69.84	10.92	18.22	21.34
Inox India	INOXINDIA	20,418.91	80.12	17.51	26.11	33.54
Azad Engineering	AZAD	18,379.96	132.25	11.75	9.14	12.04
Triveni Turbine	TRITURBINE	18,091.6	53.8	12.11	26.32	35.95

Against listed peers, Thermax sits in an interesting middle ground. Its market cap of Rs 43,852.50 crore is smaller than Bharat Heavy Electricals at Rs 1,49,937.65 crore, but comfortably above Jyoti CNC Automation at Rs 22,468.26 crore, Inox India at Rs 20,418.91 crore, Azad Engineering at Rs 18,379.96 crore and Triveni Turbine at Rs 18,091.60 crore.

On valuation, Thermax’s P/E of 73.91 is above BHEL’s 61.64, Jyoti CNC’s 69.84 and Triveni Turbine’s 53.80, below Inox India’s 80.12 and well below Azad Engineering’s 132.25. Its P/B of 7.88 is higher than BHEL’s 5.66, but lower than Jyoti CNC’s 10.92, Inox India’s 17.51, Azad’s 11.75 and Triveni Turbine’s 12.11.

Profitability comparisons are equally mixed. Thermax ROE of 13.76% is stronger than BHEL’s 6.29% and Azad’s 9.14%, close to Lloyds-style mid-teen territory implied by the industry, but below Jyoti CNC’s 18.22%, Inox India’s 26.11% and Triveni Turbine’s 26.32%. Its ROCE of 15.85% is better than BHEL’s 9.24% and Azad’s 12.04%, but behind Jyoti CNC’s 21.34%, Inox India’s 33.54% and Triveni Turbine’s 35.95%. For Thermax Share Price, that peer set suggests the stock is neither the cheapest nor the highest-return name in the pack.

Why Investors Are Watching Thermax

• Thermax Share Price is down 4.09% today to Rs 3,529.75, with weakness visible from the opening level.
• The stock opened at Rs 3,719.95, which was also the session high, before slipping to Rs 3,527.10.
• RSI stands at 30.76, indicating weak momentum after the day’s decline.
• P/E of 73.91 and P/B of 7.88 keep valuation in focus despite ROE of 13.76% and ROCE of 15.85%.
• Its market cap of Rs 43,852.50 crore is far above the same-industry median of Rs 347.26 crore, making it a prominent sector name on Univest.

About Thermax

Thermax is classified under the Capital Goods sector and operates in the Engineering – Industrial Equipments industry. Within the supplied same-industry benchmark of 164 companies, it is one of the larger listed players by market capitalisation at Rs 43,852.50 crore. That scale places it well above the industry median market cap of Rs 347.26 crore and the average of Rs 2,866.42 crore, although below the largest company in the benchmark universe. For readers following Thermax Company News and Thermax Latest News, the company’s market positioning makes its share price moves relevant within the broader industrial equipment space.

Track Thermax Share Price on Univest

UseThermax (THERMAX) live share-price page,Univest top decliners screener,Univest market blogsto review live stock data, top decliners and related market analysis.

Investors tracking Thermax Share Price Live can use Univest to follow real-time price moves, technical indicators, fundamental ratios, share price history, 52-week levels and broader market insights in one place. Univest also helps users compare Thermax Stock Performance with sector peers, review valuation metrics such as P/E and P/B, and monitor return ratios like ROE and ROCE alongside daily price action. For Thermax Stock News and Thermax Share Price Update, that broader context matters as much as a single day’s move.

Frequently Asked Questions

Why did Thermax Share Price fall today?

Ans. The supplied data confirms Thermax Share Price declined 4.09% to Rs 3,529.75 from the previous close of Rs 3,680.25. However, the verified figures do not establish any company-specific catalyst behind today’s fall.

What is the current Thermax Share Price Today?

Ans. Thermax Share Price Today stood at Rs 3,529.75 at the captured time on 15 September 2026. The stock was down Rs 150.50 for the session, after opening at Rs 3,719.95 and touching Rs 3,527.10 intraday.

How much did Thermax stock decline in today’s session?

Ans. Thermax stock fell Rs 150.50 in absolute terms, which translates into a 4.09% decline versus the previous close of Rs 3,680.25. The move placed the stock at Rs 3,529.75 in the supplied market snapshot.

What does today’s price action show for Thermax?

Ans. The price action shows early weakness and no intraday recovery above the open. Thermax opened at Rs 3,719.95, which was also the day’s high, and later slipped to Rs 3,527.10 before trading near Rs 3,529.75.

How is Thermax valued right now?

Ans. Thermax is trading at a P/E ratio of 73.91 and a P/B ratio of 7.88. Those multiples are above the same-industry median P/E of 29.81 and median P/B of 2.79, indicating a premium relative to median benchmark levels.

What do Thermax profitability metrics show?

Ans. Thermax reported ROE of 13.76% and ROCE of 15.85% in the supplied data. Its ROE matches the industry median of 13.76%, while ROCE is marginally below the industry median of 15.87%.

What are Thermax EPS, book value and dividend yield?

Ans. Thermax has EPS of Rs 49.80, book value per share of Rs 467.02 and dividend yield of 0.54%. Together, these figures add context to earnings per share, accounting net worth and current payout relative to price.

How does Thermax compare with peers in its industry?

Ans. Thermax sits between lower-valued and higher-valued peers. Its P/E of 73.91 is above BHEL’s 61.64 and Triveni Turbine’s 53.80, but below Inox India’s 80.12 and Azad Engineering’s 132.25. The stock belongs to the Capital Goods sector.

What should investors monitor next in Thermax Stock News?

Ans. Investors may track whether Thermax holds near Rs 3,529.75 after today’s drop, how it behaves relative to the 50 DMA of Rs 3,912.02 and 200 DMA of Rs 3,878.72, and whether valuation stays justified against peers.