THERMAX LTD Fair Value
THERMAX · Capital Goods · Current price ₹3,913.9
| Method | Fair value | Status |
|---|---|---|
| Residual income | ₹474 | 13% ROE fading to 12% over ~3 yrs, on ₹466 book |
| Relative P/E | ₹4,214 | EPS × 69.7 peer-median P/E |
| Graham floor | ₹796 | Conservative floor: √(22.5 × EPS × book value/share) |
| Analyst target | ₹4,418 | Street consensus 12-month target price |
Is THERMAX LTD undervalued?
DocStoX estimates the fair value of THERMAX LTD at ₹2,086 per share, versus the current market price of ₹3,914. That puts the stock about -46.7% above our fair-value estimate, which we read as "Avoid". Our confidence in this estimate is low.
How this fair value is calculated
This estimate blends 4 independent methods: Residual income (₹474), Relative P/E (₹4,214), Graham floor (₹796), Analyst target (₹4,418). We weight each by its reliability and skip any method whose inputs look untrustworthy — "no DCF beats a wrong DCF". This is the same deterministic engine that powers DocStoX stock pages; there is no guesswork or AI-generated number here.
Bear, base and bull scenarios
Our scenarios span ₹474 (bear) to ₹2,086 (base) to ₹4,418 (bull). A margin of safety means buying meaningfully below the base case — the wider the gap, the more room for error in the assumptions.
More on THERMAX LTD
DocStoX estimates are generated by a deterministic valuation engine from reported financials — for informational purposes only, not investment advice. Consult a SEBI-registered advisor before investing.