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Thermax Limited
NSE:THERMAX

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Thermax Limited
NSE:THERMAX
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Price: 3 870.8 INR 6.25%
Market Cap: ₹436B

Balance Sheet

Balance Sheet Decomposition
Thermax Limited

Balance Sheet
Thermax Limited

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Balance Sheet
Currency: INR
Mar-2002 Mar-2003 Mar-2004 Mar-2005 Mar-2006 Mar-2007 Mar-2008 Mar-2009 Mar-2010 Mar-2011 Mar-2012 Mar-2013 Mar-2014 Mar-2015 Mar-2016 Mar-2017 Mar-2018 Mar-2019 Mar-2020 Mar-2021 Mar-2022 Mar-2023 Mar-2024 Mar-2025
Assets
Cash & Cash Equivalents
363
370
327
281
547
972
316
399
454
6 880
6 983
3 211
4 508
1 111
1 494
1 730
2 463
3 083
2 541
4 613
3 108
4 528
4 866
4 100
Cash
363
370
327
281
547
972
316
399
454
6 880
6 983
0
0
1 056
1 451
1 644
1 890
2 835
1 587
2 873
2 048
3 005
2 341
1 999
Cash Equivalents
0
0
0
0
0
0
0
0
0
0
0
3 211
4 508
55
43
86
573
248
954
1 740
1 060
1 524
2 525
2 101
Short-Term Investments
0
0
0
0
0
0
264
3 298
6 248
2 300
2 395
4 430
7 079
10 616
10 131
8 470
12 639
8 349
10 372
15 923
14 085
20 709
18 516
23 023
Total Receivables
2 107
1 646
2 315
3 367
3 304
6 016
7 474
7 220
9 911
12 368
15 851
17 120
17 393
20 499
19 395
17 248
18 811
25 789
18 399
16 302
20 447
24 731
28 063
33 856
Accounts Receivables
1 534
1 167
1 766
2 605
2 412
4 000
5 305
5 719
7 984
10 209
13 707
15 467
14 685
19 596
18 432
16 137
17 823
24 990
17 386
15 667
18 540
22 738
26 052
31 071
Other Receivables
573
479
549
762
892
2 016
2 169
1 501
1 927
2 159
2 144
1 653
2 708
903
963
1 111
988
799
1 013
635
1 907
1 993
2 012
2 784
Inventory
564
553
721
1 042
1 283
2 108
2 100
2 805
2 563
3 424
3 384
3 240
4 158
4 698
3 888
3 584
4 730
6 953
6 046
5 335
9 136
10 267
10 221
9 035
Other Current Assets
58
126
427
666
764
1 139
1 037
3 595
5 129
5 677
5 450
5 093
8 117
1 389
1 192
1 942
2 372
3 198
2 416
2 493
602
566
2 815
3 206
Total Current Assets
3 092
2 695
3 790
5 355
5 898
10 235
11 191
17 316
24 306
30 649
34 063
33 092
41 255
38 312
36 100
32 974
41 016
47 371
39 773
44 665
47 378
60 802
64 481
73 220
PP&E Net
1 099
1 014
1 022
1 331
1 419
1 769
3 442
4 890
5 289
6 606
9 088
12 153
13 882
6 876
7 173
8 066
9 241
12 951
12 800
12 312
11 985
16 497
23 938
31 760
PP&E Gross
1 099
1 014
1 022
1 331
1 419
1 769
3 442
4 890
5 289
6 606
9 088
12 153
13 882
6 876
7 173
8 066
9 241
12 951
12 800
12 312
11 985
16 497
23 938
31 760
Accumulated Depreciation
1 058
1 144
1 073
1 070
1 123
1 211
1 375
1 583
1 854
2 535
3 009
3 518
4 206
4 484
4 970
5 568
6 221
6 812
6 967
7 642
8 334
8 823
10 140
11 328
Intangible Assets
0
0
0
7
20
20
43
198
195
445
637
564
579
522
551
397
298
238
237
320
375
292
340
1 123
Goodwill
3
4
1
0
0
0
0
0
0
1 157
1 182
1 185
1 334
1 023
1 149
1 057
1 222
331
353
30
30
30
30
802
Note Receivable
0
0
0
0
0
0
0
0
0
100
482
381
213
3 738
3 398
3 284
2 146
2 233
3 013
3 514
5 497
6 483
6 828
7 818
Long-Term Investments
1 704
2 422
2 865
3 184
3 970
5 741
5 601
1 433
3 703
115
0
0
0
870
1 847
2 840
2 547
1 087
981
1 783
8 041
2 989
4 520
3 728
Other Long-Term Assets
152
80
128
122
107
135
218
207
297
1 921
1 277
2 501
2 158
938
1 593
1 988
2 982
3 788
2 402
2 445
1 305
1 293
1 392
1 930
Other Assets
3
4
1
0
0
0
0
0
0
1 157
1 182
1 185
1 334
1 023
1 149
1 057
1 222
331
353
30
30
30
30
802
Total Assets
6 050
N/A
6 215
+3%
7 805
+26%
10 000
+28%
11 413
+14%
17 900
+57%
20 496
+15%
24 044
+17%
33 790
+41%
40 993
+21%
46 729
+14%
49 875
+7%
59 421
+19%
52 279
-12%
51 810
-1%
50 605
-2%
59 450
+17%
67 999
+14%
59 559
-12%
65 069
+9%
74 611
+15%
88 386
+18%
101 530
+15%
120 380
+19%
Liabilities
Accounts Payable
894
1 013
1 189
2 127
1 766
3 266
4 637
4 379
7 951
8 928
9 690
9 723
9 319
9 466
9 476
10 042
10 386
13 707
9 602
11 380
14 598
14 979
15 329
16 966
Accrued Liabilities
0
0
0
0
0
0
0
0
0
78
84
17
28
636
645
628
597
666
674
758
851
1 049
2 275
2 454
Short-Term Debt
0
0
0
0
0
0
0
0
0
631
1 828
377
2 221
1 253
1 379
853
1 642
1 850
1 782
2 829
2 763
3 633
4 132
4 837
Current Portion of Long-Term Debt
0
0
0
0
0
0
0
0
0
0
22
22
227
215
232
44
165
202
233
162
219
300
584
536
Other Current Liabilities
1 117
1 091
2 017
3 061
4 787
8 512
7 951
9 344
14 443
15 996
15 956
15 178
18 200
17 214
14 421
12 086
17 998
20 114
15 578
15 577
19 151
24 132
24 935
31 557
Total Current Liabilities
2 010
2 104
3 207
5 187
6 553
11 778
12 588
13 723
22 394
25 634
27 579
25 316
29 994
28 783
26 153
23 652
30 787
36 538
27 868
30 707
37 581
44 092
47 254
56 351
Long-Term Debt
156
17
91
67
70
22
0
41
80
849
876
3 832
5 167
524
342
460
530
351
431
288
696
4 373
8 059
11 804
Deferred Income Tax
143
87
181
184
196
201
313
367
441
299
378
383
318
115
155
160
165
99
44
70
31
29
123
300
Minority Interest
103
134
169
3
0
0
0
0
94
520
1 116
1 103
1 397
0
0
14
0
0
0
0
0
22
0
57
Other Liabilities
0
0
0
0
0
0
0
0
0
542
487
554
2 164
782
998
942
821
869
937
1 491
1 379
1 190
1 697
2 499
Total Liabilities
2 412
N/A
2 341
-3%
3 649
+56%
5 435
+49%
6 819
+25%
12 001
+76%
12 901
+7%
14 130
+10%
23 008
+63%
27 844
+21%
30 436
+9%
31 189
+2%
39 038
+25%
30 203
-23%
27 649
-8%
25 229
-9%
32 303
+28%
37 857
+17%
29 280
-23%
32 555
+11%
39 686
+22%
49 705
+25%
57 132
+15%
71 011
+24%
Equity
Common Stock
238
238
715
715
238
238
238
238
238
238
238
238
238
238
238
238
238
238
238
238
238
238
238
238
Retained Earnings
3 400
3 636
3 441
3 848
4 330
5 631
4 272
6 174
6 775
8 935
11 571
17 556
19 178
21 182
23 018
24 371
25 907
29 119
29 222
31 330
33 701
37 349
43 074
47 940
Additional Paid In Capital
0
0
0
0
0
0
611
611
611
611
611
611
611
573
573
573
573
573
573
573
573
573
587
646
Treasury Stock
0
0
0
0
0
0
0
0
0
0
0
0
0
13
13
13
13
13
13
13
13
13
13
13
Other Equity
0
1
1
2
25
30
2 474
2 890
3 158
3 364
3 873
282
355
96
346
207
442
226
259
386
426
534
512
558
Total Equity
3 638
N/A
3 874
+6%
4 156
+7%
4 565
+10%
4 594
+1%
5 899
+28%
7 595
+29%
9 913
+31%
10 782
+9%
13 149
+22%
16 293
+24%
18 687
+15%
20 383
+9%
22 076
+8%
24 162
+9%
25 376
+5%
27 147
+7%
30 143
+11%
30 279
+0%
32 514
+7%
34 925
+7%
38 681
+11%
44 398
+15%
49 369
+11%
Total Liabilities & Equity
6 050
N/A
6 215
+3%
7 805
+26%
10 000
+28%
11 413
+14%
17 900
+57%
20 496
+15%
24 044
+17%
33 790
+41%
40 993
+21%
46 729
+14%
49 875
+7%
59 421
+19%
52 279
-12%
51 810
-1%
50 605
-2%
59 450
+17%
67 999
+14%
59 559
-12%
65 069
+9%
74 611
+15%
88 386
+18%
101 530
+15%
120 380
+19%
Shares Outstanding
Common Shares Outstanding
119
119
119
119
119
119
119
119
119
119
119
119
119
113
113
113
113
113
113
113
113
119
119
119
Preferred Shares Outstanding
0
0
48
48
48
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
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