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SHAREHOLDING PATTERN

You can view the shareholding pattern for the latest three quarters for the company under two broad categories (Promoter & Non Promters).
Thermax Ltd.
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Shareholding Pattern as on 31/12/2025
Summary statement holding of specified securities
Category of shareholder Nos. of shareholders No. of fully paid up equity shares held Total nos. shares held Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) Shareholding as a % assuming full conversion of convertible securities (as a percentage of diluted share capital) As a % of (A+B+C2) Number of equity shares held in dematerialized form
(A) Promoter & Promoter Group 4 73855995 73855995 61.98 61.98 73855995
(B) Public 77402 38792443 38792443 32.56 32.56 38689568
(C1) Shares underlying DRs 0 0 0 0.00 0.00 0
(C2) Shares held by Employee Trust 49 6507862 6507862 5.46 5.46 6507862
(C) Non Promoter-Non Public 49 6507862 6507862 5.46 0.00 6507862
Grand Total 77455 119156300 119156300 100.00 100.00 119053425

Category of shareholder Nos. of shareholders No. of fully paid up equity shares held No. of shares underlying Depository Receipts Total nos. shares held Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) Number of equity shares held in dematerialized form
Shareholding of Promoter and Promoter Group
Indian
Individuals / Hindu Undivided Family 2 6690 0 6690 0.01 6690
PHEROZ N PUDUMJEE 1 6000 0 6000 0.01 6000
ARNAVAZ ROHINTON AGA 0 0 0 0 0.00 0
KHORSHED KAVAS BHARUCHA 1 690 0 690 0.00 690
LEA PUDUMJEE 0 0 0 0 0.00 0
MEHER P. SETHNA 0 0 0 0 0.00 0
MEHER PUDUMJEE 0 0 0 0 0.00 0
ZAHAAN PHEROZ PUDUMJEE 0 0 0 0 0.00 0
Any Other (specify) 2 73849305 0 73849305 61.98 73849305
RDA HOLDINGS PRIVATE LTD 1 64328500 0 64328500 53.99 64328500
ARA TRUSTEESHIP COMPANY PRIVATE LIMITED 1 9520805 0 9520805 7.99 9520805
LAZARA CAPITAL ADVISORS PRIVATE LIMITED 0 0 0 0 0.00 0
LAZARA INVESTMENT SERVICES LLP 0 0 0 0 0.00 0
MEPHEZALEA ASSET SERVICES LLP 0 0 0 0 0.00 0
SHAKTI SUSTAINABLE ENERGY FOUNDATION 0 0 0 0 0.00 0
SOCOMP SOLUTIONS PRIVATE LIMITED 0 0 0 0 0.00 0
Sub Total47385599507385599561.9973855995
Foreign
Any Others (Specify) 0 0 0 0 0.00 0
RDA INVESTMENTS SINGAPORE PTE. LTD. 0 0 0 0 0.00 0
Individuals (Non-Resident Individuals/ Foreign Individuals) 0 0 0 0 0.00 0
DARAYUS A. BHATENA 0 0 0 0 0.00 0
JAMSDHED A. BHATENA 0 0 0 0 0.00 0
Sub Total00000.000
Grand Total47385599507385599561.9973855995
Public Shareholding
Institutions
Mutual Funds 27 15801611 0 15801611 13.26 15801611
SBI ENERGY OPPORTUNITIES FUND 1 9307134 0 9307134 7.81 9307134
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY MIDC 1 2910221 0 2910221 2.44 2910221
ICICI PRUDENTIAL ENERGY OPPORTUNITIES FUND 1 1498904 0 1498904 1.26 1498904
Insurance Companies 10 1749877 0 1749877 1.47 1749877
Alternate Investment Funds 7 126550 0 126550 0.11 126550
NBFCs registered with RBI 2 225 0 225 0.00 225
Foreign Portfolio Investors Category I 197 14509392 0 14509392 12.18 14509392
NALANDA INDIA EQUITY FUND LIMITED 1 6118073 0 6118073 5.13 6118073
KOTAK FUNDS - INDIA MIDCAP FUND 1 1570733 0 1570733 1.32 1570733
Foreign Portfolio Investors Category II 13 216370 0 216370 0.18 216370
Sub Total2563240402503240402527.2032404025
Non-Institutions
Any Others (Specify) 1406 122387 0 122387 0.10 122387
HUF 1401 120396 0 120396 0.10 120396
Clearing Members 2 60 0 60 0.00 60
Trusts 3 1931 0 1931 0.00 1931
Bodies Corporate 446 326663 0 326663 0.27 326163
Resident Individuals holding nominal share capital up to Rs. 2 lakhs 73044 5156129 0 5156129 4.33 5054254
Resident Individuals holding nominal share capital in excess of Rs. 2 lakhs 2 228241 0 228241 0.19 228241
Non Resident Indians (NRIs) 2245 397763 0 397763 0.33 397263
Key Managerial Personnel 1 2783 0 2783 0.00 2783
Investor Education and Protection Fund (IEPF) 1 150283 0 150283 0.13 150283
Directors and their relatives (excluding independent directors and nominee directors) 1 4169 0 4169 0.00 4169
Sub Total771466388418063884185.356285543
Grand Total774023879244303879244332.5538689568
Non Promoter - Non Public shareholder
Employee Benefit Trust
Employee Benefit Trust 49 6507862 0 6507862 5.46 6507862
JASMEET BHATIA 1 2872672 0 2872672 2.41 2872672
Sub Total496507862065078625.466507862
Grand Total496507862065078625.466507862