About Us

  • 2019

    inaugurated its
    manufacturing facility
    at Sri City,
    Andhra Pradesh,
    on January 31, 2019.
  • 2019

    • Thermax acquired the entire stake in Thermax SPX Energy Technologies Ltd. (TSPX) held by the joint venture partners namely, Mutares Holding-24 AG, Germany and Balcke Duerr GmbH, Germany. Subsequent to the acquisition, TSPX has now become a wholly owned subsidiary of Thermax.
    • The shareholders approved the transfer of the Boiler & Heater (B&H) business to TBWES through a 'slump sale'.
  • 2018

    • Thermax completed the acquisition of shareholding of Babcock & Wilcox India Holdings Inc. in the joint venture, Thermax Babcock & Wilcox Energy Solutions Pvt. Ltd. (TBWES). TBWES is now a wholly owned subsidiary of Thermax Limited.
    • Thermax celebrated its 10th Technology Day on
      May 11, 2018
  • 2017

    • Thermax inaugurated its new manufacturing facility in Indonesia in 2017, expanding its footprint in international markets, especially the ASEAN countries.
    • Thermax commissioned the largest plant in India that generates power from cement waste heat at Rajasthan.
    • Thermax won the highest ever export contract of $157 million from a leading African conglomerate for its refinery project in Nigeria.
    • Thermax begins commercial production of ion exchange resins at the chemical factory in Dahej to serve the global markets.
    • Through its step-down subsidiary in Denmark, Thermax acquired certain assets and production activities of Barite Investments Sp. Z.o.o in Poland, for advancing its business in eastern Europe.
  • 2016

    • Thermax celebrates 50 years
  • 2013

    • Thermax MD and CEO, M.S. Unnikrishnan received the Asia Innovator Award at the 2012 CNBC Asia Business Leaders Awards (ABLA) in Bangkok.
  • 2012

    • M S Unnikrishnan was conferred the CNBC TV 18 India Business Leader Award 2012 for Thermax under the category ‘Most promising Entrant into the Big League.
    • Thermax acquires Rifox, German steam products company, a strategic fit for the company's steam engineering business
  • 2011

    • Thermax Unveils Unique Solar Cooling System at MNRE's Solar Energy Centre
    • Thermax partners with Amonix Inc and offers concentrated photovoltaic systems for solar power generation in India
    • Padma Shri for Anu Aga, Director-Thermax
  • 2010

    • Thermax welcomes the President of the Federal Republic of Germany, Horst Koehler on his state visit to Pune.
    • Thermax - Babcock & Wilcox Joint Venture for Supercritical Boilers which offers higher efficiency of power generation in India's mega projects
    • Thermax signs technology transfer agreement with Lambion to generate energy from waste
    • Thermax acquires European boiler maker, Danstoker to reinforces its initiatives in renewable energy
  • 2009

    • Thermax signs technology agreements with global leaders GE Water, USA and Wehrle Umwelt GmbH, Germany for advanced wastewater treatment
    • Thermax-SPX joint venture agreement signed to focus on equipment and services for India's growing power sector
    • Thermax bags first IPP order worth Rs. 1000 crore to build a 300 MW turnkey power plant in Andhra Pradesh.
    • Minister Prithviraj Chavan lays the foundation stone for India's first public private partnership project for rural electrification where Thermax will build solar thermal power plant with Department of Science & Technology support
  • 2008

    • Thermax signs license agreement with Babcock & Wilcox for utility boilers while targetting further growth in power sector
    • Thermax begins manufacturing chillers in China
  • 2007

    • Thermax signs agreement with Georgia Pacific, US chemical industry leader for India and SE Asia while targeting growth in paper industry
    • Thermax signs technology agreement with Balcke-Dürr German Air Pollution Control leader to access to untapped domestic and overseas markets
    • New centre for research, technology and innovation
  • 2006

    • Thermax posts a record profit of INR 123 crores, up by 77% over the previous year. Thermax group turnover touches INR 1606 crores.
    • The Thermax R&D team wins the national award for the most innovative product at ACREX 2006, the HVAC event. The Award was for designing Trigenie, the dual-heat input absorption chiller that works on exhaust gas and other heat sources like steam or hot water.
    • Meher Pudumjee honoured with the Young Achiever award by Financial Express.
    • Work begins on an additional manufacturing facility at Vadodara, Gujarat to cater to the growing business of the Boiler and Heating business.
    • Incorporates wholly owned subsidiary in China (Thermax Zhajiang) to expand its China operations and begins work on a manufacturing plant for vapour absorption machines in Jaixing, near Shangai.
  • 2005

    • Thermax top line grows by 62% and achieves a Group turnover of INR.1281 crores.
    • International business of Thermax grew by 70% to INR 352 crores.
    • Thermax launches 14 new products and applications during the year.
    • To achieve synergies in related business, the company's six core businesses are restructured into three groups – Cooling & Heating, Chemicals & Water and Projects.
    • Thermax among the 20 Indian companies featured in the Forbes Asia List of “Asia's Best under a Billion” companies.
    • Thermax wins a performance bonus cheque of INR 1 crore from Madras Cement Ltd for fast track completion of its captive power plant.
  • 2004

    • Thermax registers highest ever profit after tax of INR 54 crores.
    • Launches Project Evergreen to consolidate its leadership position in India and prepare for global leadership in chosen fields. McKenzie appointed as consultants in this transformation exercise.
    • Thermax buys out Babcock & Wilcox stake in Joint venture; opens office in China. Thermax ranked No.3 among the top ten places to work (Business Today/Mercer Survey).
    • Anu Aga retires as Chairperson and Meher Pudumjee takes over.
  • 2003

    • February 13 - Dr. N D Joshi's Best innovator award Instituted.
    • Shree Cement Project completed in a record time of 17 months. Thermax wins Performance bonus from the customer.
    • March - Anu Aga honoured with Lifetime Achievement Award by Financial Express/Electrolux.
  • 2002

    • April - Thermax gets ISO 14001 certification for its chemical plant at Paudh. In the same month, Thermax announces turnaround results with a net profit of INR 24 crores.
    • August 19 - Thermax declares 50% dividend, the highest since going public.
  • 2001

    • On January 15, 2001, the Thermax board is reconstituted with four independent directors, three non-executive promoter directors and one full-time director.
    • In March 2001, Thermax starts subsidiary company, Thermax Inc, in the US.
    • In June 2001, Thermax posts a net loss of INR 13.22 crores.
    • In August 2001, Thermax announces a VRS scheme as part of its restructuring exercise. In all, 420 employees opted for the scheme.
  • 2000

    • June - Thermax acquires boiler company, M E Engineering Ltd, in UK.
    • July 21 - Prakash Kulkarni takes over as the Managing Director of the company.
    • August 2000, the company forms its Executive Council.
    • September - Thermax gets ISO 14001 certification for its manufacturing facility at Chinchwad.
  • 1996

    • February 16 - R D Aga passes away after a heart attack in Mumbai.
    • February 19 - Anu Aga is appointed as Executive Chairperson.
    • August - Thermax bags the single largest contract for captive power, water treatment and absorption cooling from Arvind Mills. The order value - INR 136 crores.
    • December - the Energy & Environment Research Centre is inaugurated.
  • 1992

    • Combined Heating and Power Group (CHAP) is formed which later became the Cogen division.
  • 1989

    • The company forms the joint venture – Thermax Babcock & Wilcox Ltd.
  • 1987

    • Thermax introduces vapour absorption machines in collaboration with Sanyo, Japan.
  • 1986

    • The company launches the Thermax Service Franchise Scheme, a first of its kind in India.
  • 1981

    • R D Aga appointed Chairman and Managing Director of Thermax Pvt Ltd.
  • 1980

    • Wanson India becomes Thermax Pvt Ltd. “Conserving energy, preserving the environment” was adopted as the corporate vision.
  • 1979

    • In a synergistic move, Thermax starts the Enviro division for Air Pollution Control equipment.
  • 1976

    • Thermax acquires Tulsi Fine Chemicals, which later became the Chemical division of the company.
  • 1975

    • Thermax gets into the water treatment business, to complement its boiler business.
  • 1973

    • Wanson receives its first export order for 10 paint booths to the former USSR.
    • Multitherm, India's first packaged water tube boiler for Indian coal, is developed by Wanson R & D.
  • 1966

    • Wanson India starts operations in Pune, manufacturing small coil-type packaged boilers (Vaporax), in collaboration with Wanson, Belgium.
    • It was the first year of operations; the company employed 145 people and posted a turnover of INR 20.00 lakhs. A S Bhathena was appointed Managing Director.