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Thermax rises as its arm secures order from Dangote Industries

Thermax Ltd. | Engineering - Industrial Equipments | Capital Goods & Industrial Consumables | BSE: 500411 | NSE: THERMAX

27 Nov 2025 Evaluate

Thermax is currently trading at Rs. 2942.60, up by 9.70 points or 0.33% from its previous closing of Rs. 2932.90 on the BSE.

The scrip opened at Rs. 2983.95 and has touched a high and low of Rs. 2983.95 and Rs. 2915.35 respectively. So far 1836 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 5002.95 on 17-Dec-2024 and a 52 week low of Rs. 2840.70 on 24-Nov-2025.

Last one week high and low of the scrip stood at Rs. 2983.95 and Rs. 2840.70 respectively. The current market cap of the company is Rs. 35031.95 crore.

The promoters holding in the company stood at 61.98%, while Institutions and Non-Institutions held 27.39% and 10.62% respectively.

Thermax’s wholly owned subsidiary -- Thermax Babcock & Wilcox Energy Solutions (TBWES) has secured an order of more than Rs 580 crore for utility boilers and associated systems from Dangote Industries, a major West African conglomerate, for their refinery and petrochemical complex in Nigeria.

Like the previously executed project, this order includes four units of 400 TPH high-pressure utility boilers, along with allied auxiliaries, to be designed and manufactured by TBWES. The scope of supply covers project management, engineering, procurement, manufacturing, supply of plug-and-play boiler modules, and supervision of construction and commissioning.

Thermax’s association with Dangote Industries spans several years. In 2017, Thermax secured a publicly disclosed contract valued at approximately $157 million to supply boilers, HRSGs, and flue gas steam generators for Dangote’s refinery project in Lekki, Nigeria. Over time, Thermax has supported the group with installation, commissioning, and modernisation of boiler systems, reflecting a trusted and long-standing partnership.

Thermax is an engineering company providing sustainable solutions in energy and environment.

Thermax Share Price

4141.20 21.20 (0.51%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
BHEL	316.70
Thermax	4141.20
Kirloskar Oil Eng	1616.95
Skipper	433.50
GMM Pfaudler	931.05
View more..

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Thermax rises as its arm secures order from Dangote Industries

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