Thermax (BOM:500411) Dividend Payout Ratio: (As of Jun. 2026)

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BOM:500411 Thermax Ltd BOM:500411
87 GF Score
Price ₹3,550.45
GF Value ₹4,108.68
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is Thermax Dividend Payout Ratio?

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Thermax's Dividend Payout Ratio for the months ended in Jun. 2026 was .

The historical rank and industry rank for Thermax's Dividend Payout Ratio or its related term are showing as below:

BOM:500411' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.2   Med: 0.25   Max: 0.75
Current: 0.27

During the past 13 years, the highest Dividend Payout Ratio of Thermax was 0.75. The lowest was 0.20. And the median was 0.25.

BOM:500411's Dividend Payout Ratio is ranked better than
65.68% of 303 companies
in the Conglomerates industry
Industry Median: 0.34 vs BOM:500411: 0.27

As of today (2026-09-20), the Dividend Yield % of Thermax is 0.39%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Thermax was 2.00%. The lowest was 0.19%. And the median was 0.49%.

Thermax's Dividends per Share for the months ended in Jun. 2026 was ₹.

During the past 3 years, the average Dividends Per Share Growth Rate was 15.90% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Thermax was 49.40% per year. The lowest was -13.70% per year. And the median was 4.00% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Thermax (BOM:500411) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Thermax Dividend Payout Ratio Related Terms

Thermax Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Thermax's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Thermax Dividend Payout Ratio Chart

Thermax Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.38 0.26 0.20 0.23 0.24

Thermax Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Dividend Payout Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.62 -

BOM:500411 vs MMM, HON: Dividend Payout Ratio Comparison

For the Conglomerates subindustry, Thermax's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Thermax Dividend Payout Ratio vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Thermax's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Thermax's Dividend Payout Ratio falls into.


BOM:500411
87GF Score
Thermax Ltd BOM:500411
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Thermax Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

Thermax's Dividend Payout Ratio for the fiscal year that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Mar. 2026 )/ EPS without NRI (A: Mar. 2026 )
=14/ 58.445093364
=0.24

Thermax's Dividend Payout Ratio for the quarter that ended in Jun. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Jun. 2026 )/ EPS without NRI (Q: Jun. 2026 )
=/ 3.9879742567047
=0.00

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Is Thermax (BOM:500411) Overvalued in 2026?

Based on GuruFocus' analysis, Thermax stock appears to be undervalued. The current stock price of ₹3,550.45 is trading 13.6% below its estimated GF Value™ of ₹4,108.68. GuruFocus considers Thermax to be Modestly Undervalued.

Key valuation signals for BOM:500411:

  • Dividend Payout Ratio:
  • GF Value™: ₹4,108.68 vs. price of ₹3,550.45 (13.6% below fair value)
  • GF Score™: 87/100 with 2 warning signs

No single metric tells the full story. See the BOM:500411 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Thermax Business Description

Other Exchanges THERMAX:India
Address 14, Mumbai-Pune Road, Thermax House, Wakdewadi, Pune, MH, IND, 411 003
Thermax Ltd is a company that provides engineering solutions. The company operates through four reportable segments which are industrial products, industrial infra, green solutions, and chemicals. It earns the majority of its revenue from the Industrial Infra segment. The Company's portfolio includes boilers and heaters, absorption chillers/heat pumps, power plants, solar equipment, related services, air pollution control equipment/system, water and waste recycle plants, ion exchange resins and performance chemicals and related services The company generates more than half of its revenue from India.
87GF Score

Get the complete analysis for BOM:500411

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹3,550.45
Price
₹4,108.68
GF Value