Driven by Purpose. Defined by Impact.
#ThermaxForABetterTomorrow
ABOUT THE THEME
Driven by Purpose.
Defined by Impact.
Rooted in values and driven by innovation and care, we partner with industry to deliver sustainable energy and environment solutions – creating long term value for all our stakeholders. This belief powers our brand promise: 'Conserving Resources, Preserving the Future.'
For nearly six decades, we have remained true to this commitment. From our early days in packaged boilers to our present role as a comprehensive solutions provider across energy, environment and chemical domains, we have been continuously evolving to address the changing needs of our customers and the environment.
Read MoreCORPORATE OVERVIEW
Thermax in Focus
Headquartered in Pune, Thermax Limited (NSE: THERMAX) has been a leading player in the energy and environment space since 1966.
Read MoreAs a trusted partner in energy transition, we support industries with sustainable solutions across heating, cooling, power generation, and air pollution control. Our capabilities in water and wastewater treatment and recycling help customers optimise resource use, while our range of chemicals are engineered to deliver high performance across diverse applications.
Read More
Key Highlights of FY 2024-25
Consolidated Revenue
FY 2024-25
Consolidated Profit
After Tax (PAT)
Order Bookings
Thermax Chemical Solutions Private Limited (TCSPL) entered into a shareholders’ agreement with UK-based Vebro Polymers to address India’s industrial and commercial flooring needs.
It also partnered with Latin America’s Oswaldo Cruz Química (OCQ) to manufacture and supply high performance resins and polymers.
Additionally, Thermax expanded its construction chemicals portfolio by acquiring Buildtech Products, an Indian manufacturer of admixtures, accelerators and capsules.
Thermax Babcock & Wilcox Energy Solutions Limited (TBWES) secured two orders worth Rs. 1,029 crore for a 600 MW greenfield energy project in Botswana, South Africa, where TBWES is the sole partner.
The scope includes supplying 4 × 550 TPH CFBC (circulating fluidised bed combustion) boilers and overseeing design, engineering, manufacturing, testing, erection and commissioning.
MESSAGE FROM THE CHAIRPERSON
Navigating a Purpose-Led Journey Through Progress and Responsibility
MESSAGE FROM THE CHAIRPERSON
Navigating a Purpose-Led Journey Through Progress and Responsibility
People remain at the
heart of our organisation.
Our culture of respect,
empowerment, and
inclusion continues to
evolve meaningfully.
We are investing in
leadership development
through platforms
like the Executive
Development
Programme (EDP),
Senior Leadership
Development
Programme (SLDP)
and Young Leadership
Development
Programme (YLDP)
across the organisation.
These efforts are
building more agile,
robust, authentic
and forward-looking
leaders.”
Meher Pudumjee
Chairperson, Thermax Limited
MESSAGE FROM THE MD AND CEO
Sowing Seeds for a Greener Tomorrow
MESSAGE FROM THE MD AND CEO
Sowing Seeds for a Greener Tomorrow
Our focus on innovation
and R&D continues
to gain momentum.
Through our licensing
partnership with Ceres,
we are co-developing
solid oxide electrolysers
(SOEC) for green
hydrogen production
in India. We are also
making strategic
investments in
three emerging
verticals: carbon
capture & upcycling,
green hydrogen &
electrochemical
technologies,
and biofuels &
bioprocessing.”
Ashish Bhandari
MD & CEO
STAKEHOLDER-WISE HIGHLIGHTS
Fostering Thriving
Partnerships and Ecosystems
Owners and
Shareholders
Customers
Employees
Vendors and
Business Partners
Planet
Communities and
Academia Groups
Government
Authorities
STRATEGIC OBJECTIVES
Paving the Way for a
Sustainable Tomorrow
While innovation, sustainability, and global expansion remain key focus areas, our strategy encompasses a broader and more integrated vision. It is grounded in deep customer insight, operational excellence, and a steadfast commitment to long-term value creation. For FY 2024-25, we are intensifying our investments in digital transformation and manufacturing capabilities to enhance energy efficiency, reduce emissions, and deliver pioneering clean energy solutions. By harnessing advanced technologies and forging strategic partnerships, we aim to create enduring value for our stakeholders while paving the way for a resilient and sustainable future.
AWARDS AND ACCOLADES
Celebrating
Our Successes
EY Entrepreneur of the Year Award
Chairperson Meher Pudumjee was named EY Entrepreneur of the YearTM 2024 in the manufacturing category. The award is one of India's most distinguished business accolades for entrepreneurs, recognising those who lead dynamic businesses and inspire others with their achievements.
Business Today's India’s Best CEOs Awards
Former Chairperson Anu Aga, received the ‘Lifetime Achievement’ award at Business Today's India’s Best CEOs Awards. The accolade celebrates her lasting contributions to industry and society.
Energy Excellence Award 2025
Thermax was honoured with the ‘Energy Excellence Award 2025’ by Chemtech Foundation at the Oil, Gas & Power World Expo 2025 in the category of ‘Outstanding Achievement in R&D and Innovation’.
Best Governance Award at Indian Family Business Awards 2023
Thermax won the Best Governance Award (GIGA category), presented by Moneycontrol and Waterfield Advisors in partnership with PwC India, highlighting the Company’s commitment to ethical leadership and transparency.
Excellence in Sustainability and Circular Economy
At the 12th Annual Manufacturing Today Awards 2024, Thermax was recognised for pioneering efforts in air pollution control, energy sustainability, and water conservation, driving measurable environmental impact.
