Thermax Ltd - 500411

Name of Company	Thermax Ltd.
BSE Code	500411
NSE Code	THERMAX
ICICI Code
Established
My Take	Like
Headquarters	Pune
Promoters	RDA holding company is the promoter holding company. Arnavaz Rohinton Aga(Anu Aga) is one of the leading female entrepreneurs in India and one of 8 richest billionare women. Meher Pudumjee, her daughter has taken over from Anu after her retirement in 2004. Anu is credited for truning around the company after her husband died in 1994.
Story	A zero debt company with good reserves. A real international story with 19 international offices. Manufacturing in China and 3 locations in India. Technology partnerships with major global players.
Sector	Engineering
Sub-sector	Industrial Engineering (Heating equipment, power plants, Air pollution control, waste heat recovery, waste water management)
Website	http://www.thermaxindia.com/
Positives	Regular dividend paying company(yields around 0.8% at current prices). Good reserves of 1200 Cr (around and half years of profits).
Negatives
Peers	BHEL, ABB, Crompton Greaves, Greaves Cotton
News
Price @ blogged	590.6 (04-May-11)
Cost of company	7039.95 Cr market cap for a 382.42 Cr NP in FY ending Mar ' 11 makes it 18.4 times. This is for a company with 0 Cr debt and 1026.96 Cr reserves
Group	Cyclicals
Growth	Revenues of the company have grown from 2173 Cr to 4883 Cr from FY07 to FY11. They have maintained around 8% NPM except in FY10.