Thermax: Completion of second term of Mr. Harsh Mariwala (DIN:00210342) as Non-Executive, Lead - Independent Director…
Thermax (THERMAX) filed a disclosure titled "Completion of second term of Mr. Harsh Mariwala (DIN:00210342) as Non-Executive, Lead - Independent Director of the Company". The company is valued at about ₹33,196 crore.
What happened
Thermax (THERMAX) filed a disclosure with the exchanges on 9 November 2026 at 06:36 PM titled "Completion of second term of Mr. Harsh Mariwala (DIN:00210342) as Non-Executive, Lead - Independent Director of the Company".
Company snapshot
Thermax is a mid-cap company in the Capital Goods sector, with a market value of about ₹33,196 crore.
The stock last traded at ₹2,785.9, against a 52-week range of ₹2,666.6–₹5,277.8 (47.2% below the high).
Before this filing the shares had moved −15.0% over the month and −32.4% over three months. Average daily turnover over the last 20 sessions was about ₹92.83 crore.
Promoters held 61.98% at the end of Q2 FY27. Foreign institutions owned 11.31% and domestic institutions 14.94%.
| Quarter | Revenue | Net profit | EPS (₹) |
|---|---|---|---|
| Q2 FY26 | 2,474 | 119.7 | 10.62 |
| Q3 FY26 | 2,635 | 204.2 | 18.12 |
| Q4 FY26 | 3,428 | 244.3 | 21.68 |
| Q1 FY27 | 2,303 | 25.2 | 2.24 |
| Q2 FY27 | 2,756 | 114.5 | 10.17 |
What history shows
BCEIE's records show 3 previous management change filings from the company since May 2026.
After those filings, the stock fell 6.1% on average the next trading day and was down 7.5% on average after five days (3 filings with price data).
Across 252 similar disclosures by other Capital Goods companies, shares moved +0.6% on average the next day and +0.7% over five days; 53% of them rose the next day.
Market-wide, 4,332 management change filings with an impact score of 50 or more saw an average next-day move of −0.0%, with 45% rising.
Past reactions describe what happened before; they are not a forecast.
| Date | Filing | Next day | 5 days |
|---|---|---|---|
| 31 Jul 2026 | Management change | −6.8% | −5.9% |
| 31 Jul 2026 | Appointment of Mr Ravi Shankar Gopinath as Non- Executive… | −6.8% | −5.9% |
| 30 Jun 2026 | Cessation of Mr Kirtiraj Jilkar, Senior Management Personnel of the… | −4.7% | −10.8% |
What to watch
- The appointment of a successor and any change in strategy or guidance.
In the news
Recent coverage elsewhere (links open the original publisher):
- Thermax shares fall 18% on missing Q2 estimates
- Thermax shares fall 17% as Q2 earnings miss estimates, higher input costs weigh on profitability
- Thermax shares extend Friday's losses; JPMorgan upgrades on attractive risk-reward - CNBC TV18
- Thermax plunges 15%, nears 52-week low on weak Q2 operational performance
- Thermax Ltd (BOM:500411) (Q2 2027) Earnings Call Highlights: Management Eyes H2 Rebound With ...
Source
Automatically written from the exchange filing and BCEIE data. Not investment advice. Check the original filing before acting on it.