Anil Singhvi recommends Thermax in Navratna SIP; analysts eye long-term gains
Published on 23/09/2025 10:04 AM
Thermax Shares in Focus: Market expert and Zee Business Managing Editor Anil Singhvi, in his morning “Navratna SIP” segment, suggested accumulating Thermax shares on every 10 per cent decline over a one-to-three year horizon, citing a “slow and steady” turnaround and scope for long-term value creation.
Thermax’s management struck an optimistic note after its first-quarter FY26 results, guiding for annual revenue growth of 10 to 11 per cent over the next five years. Order inflows are expected to remain in double digits, with performance tipped to improve in the second half of the fiscal year as its core industrial segment gains traction.
The company is also pushing ahead with a strategic shift into new-age energy solutions such as bio-CNG, green hydrogen, and green ammonia. Analysts say these businesses could become important growth engines alongside the traditional operations, enhancing long-term sustainability and investor appeal.
Add Zee Business as a Preferred Source
Based on FY27 estimated earnings per share of Rs 93, Thermax is trading at about 30 times earnings, below its historical average, after a 16 per cent year-to-date correction.
Global brokerages remain constructive. UBS has reiterated a buy call with a price target of Rs 5,100, while Jefferies has a buy rating with a target of Rs 4,500, citing the company’s diversified order book and improving margin outlook. Analysts suggest gradual accumulation as the company strengthens its presence in renewable and sustainable energy segments.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
Senior Sub-editor at Zee Business English
shweta.shukla@India.com
Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.