{
  "id": 18478828,
  "title": "Thermax shares fall 20% to 52-week low after Q2 results, JM Financial maintains sell",
  "url": "https://urgent.news/2026/11/06/thermax-shares-fall-20-to-52-week-low-after-q2-results-jm-financial",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T09:53:24.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/thermax-shares-fall-20-to-52-week-low-after-q2-results-jm-financial-maintains-sell/article71673760.ece"
  },
  "original_language": "en",
  "account": "Thermax shares experienced a significant 20% drop, reaching a 52-week low, in response to its Q2 FY27 results for the fiscal year 2027. The company's net profit for the quarter declined, falling to ₹114.54 crore, down from ₹119.66 crore in the same period of the previous year. Despite a slight increase in revenue to ₹2,755.87 crore, the company's performance was overshadowed by the financial setback. Thermax has raised its revenue guidance for the second half of FY27 to exceed ₹7,000 crore, a substantial increase from the earlier estimate of ₹3,000 crore per quarter. Management anticipates double-digit revenue growth in both Q3 and Q4 of FY27, buoyed by the successful execution of its existing client base. However, JM Financial maintained its sell rating for Thermax, with a sum-of-the-parts (SotP)-based target price of ₹3,435. The brokerage's target implies a price-to-earnings multiple of 45 times on H1FY29E estimates, and the company retained its sell recommendation. Notably, Thermax's stock had already fallen by 23% following its Q1FY27 results.",
  "summary": "The company reported a net profit of ₹114.54 crore in Q2FY27, down from ₹119.66 crore in Q2FY26.",
  "key_points": [
    "Thermax shares fell 20% to 52-week low post Q2 results",
    "Net profit dropped to ₹114.54 crore, down from ₹119.66 crore",
    "JM Financial maintains sell rating with ₹3,435 target price"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}