Multibagger penny stock: Investing in stock market is no piece of cake, as it requires proper research and patience, in order to earn good rewards. It is crucial for investors to find stocks which give substantial gains.

One such stock is Thermax Industries which has rewarded its long-term investors with multibagger returns.

Let’s take a look at the share price history of Thermax Limited. In the last 22 years, Thermax Limited shares have skyrocketed from ₹9.57 to ₹3,372 apiece.

To put it in perspective, an investment of ₹1 lakh made 24 years ago in the stock and held over time would have grown significantly to ₹3.46 crore.

Thermax Industries stock movement

Thermax Limited share price was up nearly 3 per cent higher on Thursday’s trading session. At 2:35pm, Thermax Industries was trading at ₹3,366.65 apiece on NSE.

In the long-term, the stock has proven to be wealth creating machine as it has gained over 303.38 per cent in last five years.

However, the shares have remained volatile in the short-term amid weak market sentiments. Thermax share price has descended over 6.86 per cent in last one year. Meanwhile, the stock has fallen 28.58 per cent in six months and gained 6.32 per cent in over a month.

In terms of year-to-date (YTD), the stock has descended 14.11 per cent, falling from ₹3,933.45 to the current market price.

Thermax Industries financial overview

Thermax reported a consolidated net profit of ₹116 crore for the third quarter, marking a 51 per cent decline from ₹238 crore in the same period last year. The previous year’s profit included a one-time gain of ₹126 crore from the sale of a plot of land.

The company’s order bookings decreased by 8 per cent year-on-year to ₹2,296 crore, as no large orders were secured during the quarter. Total expenses rose by 8 per cent to ₹2,383 crore, primarily due to a 4 per cent increase in raw material costs. Revenue from operations grew by 7.9 per cent to ₹2,508 crore, falling short of analysts’ expectations of ₹2,695 crore.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.