Add Thermax, target price Rs 3045: ICICI Securities

Thermax Ltd. key Products/Revenue Segments include Sale of services, Export Incentives, Scrap, Commission, Royalty Income for the year ending 31-Mar-2023.

By ETMarkets.com | Updated: Dec 15, 2023, 10.24 AM IST

Promoters held 61.98 per cent stake in the company as of 30-Sep-2023, while FIIs owned 12.54 per cent, DIIs 15.46 per cent.

ICICI Securities has add call on Thermax with a target price of Rs 3045. The current market price of Thermax Ltd. is Rs 2786.

Thermax Ltd., incorporated in the year 1980, is a Mid Cap company (having a market cap of Rs 32760.24 Crore) operating in Engineering sector.

Thermax Ltd. key Products/Revenue Segments include Sale of services, Export Incentives, Scrap, Commission, Royalty Income for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-09-2023, the company has reported a Consolidated Total Income of Rs 2368.32 Crore, up 19.25 % from last quarter Total Income of Rs 1986.02 Crore and up 11.97 % from last year same quarter Total Income of Rs 2115.09 Crore. Company has reported net profit after tax of Rs 158.85 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 61.98 per cent stake in the company as of 30-Sep-2023, while FIIs owned 12.54 per cent, DIIs 15.46 per cent.

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