Bharat Heavy Electricals Ltd vs Thermax Ltd Stock Comparison

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Last Updated on: May 25, 2026

Key Highlights

The Latest Trading Price of Bharat Heavy Electricals Ltd is ₹ 419.35 as of 25 May 15:30 . The P/E Ratio of Bharat Heavy Electricals Ltd changed from 38.5 on March 2022 to 141.2 on March 2025 . This represents a CAGR of 38.39% over 4 yearsThe P/E Ratio of Thermax Ltd changed from 73.3 on March 2021 to 64.9 on March 2025 . This represents a CAGR of -2.40% over 5 years The Market Cap of Bharat Heavy Electricals Ltd changed from ₹ 16975 crore on March 2021 to ₹ 75229 crore on March 2025 . This represents a CAGR of 34.68% over 5 yearsThe Market Cap of Thermax Ltd changed from ₹ 16039 crore on March 2021 to ₹ 43539 crore on March 2025 . This represents a CAGR of 22.11% over 5 years The revenue of Bharat Heavy Electricals Ltd for the Mar '26 is ₹ 12570 crore as compare to the Dec '25 revenue of ₹ 8708 crore. This represent the growth of 44.35% The revenue of Thermax Ltd for the Mar '26 is ₹ 3484 crore as compare to the Dec '25 revenue of ₹ 2756 crore. This represent the growth of 26.42% The ebitda of Bharat Heavy Electricals Ltd for the Mar '26 is ₹ 2013 crore as compare to the Dec '25 ebitda of ₹ 780.29 crore. This represent the growth of 157.98% The ebitda of Thermax Ltd for the Mar '26 is ₹ 430.49 crore as compare to the Dec '25 ebitda of ₹ 376.19 crore. This represent the growth of 14.43% The net profit of Bharat Heavy Electricals Ltd changed from ₹ -211 crore to ₹ 1290 crore over 8 quarters. This represents a CAGR of NaN% The net profit of Thermax Ltd changed from ₹ 109.42 crore to ₹ 244.4 crore over 8 quarters. This represents a CAGR of 49.45% The Dividend Payout of Bharat Heavy Electricals Ltd changed from 33.95 % on March 2022 to 33.94 % on March 2025 . This represents a CAGR of -0.01% over 4 yearsThe Dividend Payout of Thermax Ltd changed from 59.14 % on March 2021 to 29.16 % on March 2025 . This represents a CAGR of -13.19% over 5 years .

About Bharat Heavy Electricals Ltd

Bharat Heavy Electricals Limited (BHEL) is an integrated power plant equipment manufacturer and is engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing products and services for core sectors of the economy, viz.
Power, Oil &Gas, Transmission, Transportation, Renewable Energy, Water and Defence & Aerospace. Bharat Heavy Electricals Limited was incorporated in 1964 as a Public Sector Undertaking (PSU), with Government of India, currently holding a 63.17% equity stake.
The Company has 16 manufacturing plants spread across India, producing capital goods in domestic as well as international. During the year 2005-06, the company got FICCI Award for environmental conservation and pollution control, ICWAI National Award for Excellence in Cost Management-2005.

About Thermax Ltd

Incorporated in 1966 as Wanson India by A.S. Bhathena, Thermax Group is a Rs. 9,323 Crore company headquartered in Pune, India.
The Company provide integrated solutions in heating, cooling, power generation, water treatment and recycling, air pollution control and chemicals, emphasizing on ensuring clean air, clean energy and clean water.
As a one-stop utility solutions provider, Thermax extends comprehensive operations and maintenance support allied to each of its business verticals as well as a multitude of several specialised services, including retrofitting, revamping, upgrading, and auditing. Additionally, the Company has expanded its services portfolio by introducing digital solutions catering to all asset lifecycle need for a diverse range of its products.
It operate globally through 34 international and 22 domestic offices, 14 manufacturing facilities - 10 in India and 4 overseas, spanning Europe and South East Asia.

FAQs for the comparison of Bharat Heavy Electricals Ltd and Thermax Ltd

Which company has a larger market capitalization, Bharat Heavy Electricals Ltd or Thermax Ltd?

Market cap of Bharat Heavy Electricals Ltd is 146,020 Cr while Market cap of Thermax Ltd is 52,829 Cr

What are the key factors driving the stock performance of Bharat Heavy Electricals Ltd and Thermax Ltd?

The stock performance of Bharat Heavy Electricals Ltd and Thermax Ltd is primarily driven by its robust global client base, consistent revenue growth, strong operational efficiency, strategic investments in digital transformation, client acquisition, and the overall health of the industry. Both companies' performances are also influenced by macroeconomic conditions, currency fluctuations, and industry-specific trends.

What are the recent stock price for Bharat Heavy Electricals Ltd and Thermax Ltd?

As of May 25, 2026, the Bharat Heavy Electricals Ltd stock price is INR ₹419.35. On the other hand, Thermax Ltd stock price is INR ₹4433.6.

How do dividend payouts of Bharat Heavy Electricals Ltd and Thermax Ltd compare?

To compare the dividend payouts of Bharat Heavy Electricals Ltd and Thermax Ltd, examine their dividend payout ratio, which indicates how much the companies pay out relative to their share price and earnings. Moreover, consider the consistency and growth of their dividends to gauge their commitment towards returning value to the respective shareholders.

Disclaimer: This information provided above is for informational purposes only and does not constitute investment advice. We use third-party data and recommend conducting thorough research and consulting a certified financial advisor before making investment decisions. We do not endorse specific stocks. Make decisions based on your own research and professional guidance.