Reported a consolidated revenue of Rs. 10,389 crore in FY 2024-25, marking an 11.4% increase from Rs. 9,323 crore in FY 2023-24. Consolidated profit after tax (PAT) remained at Rs. 627 crore, while order booking grew 10.5% to Rs. 10,337 crore, compared to Rs. 9,355 crore in FY 2023-24.
CORPORATE OVERVIEW
Thermax in Focus
Headquartered in Pune, Thermax Limited
(NSE: THERMAX) has been a leading player
in the energy and environment space
since 1966. As 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.
With a strong focus on enabling clean air,
clean energy, and clean water for industries,
we deliver integrated, future-ready solutions,
backed by strategic collaborations and a
deep commitment to innovation and impact.
0
Manufacturing
Facilities
(12 Domestic and
4 International)
0
Subsidiaries
(28 Domestic and
21 International)
0+
Countries
Served
0
Permanent Employees (4,437) and Permanent Workers (1,164)
Key Highlights of FY 2024-25
| Financials | Strategic Partnerships and Acquisitions | Major Project Wins |
|---|---|---|
| Reported a consolidated revenue of Rs. 10,389 crore in FY 2024-25, marking an 11.4% increase from Rs. 9,323 crore in FY 2023-24. Consolidated profit after tax (PAT) remained at Rs. 627 crore, while order booking grew 10.5% to Rs. 10,337 crore, compared to Rs. 9,355 crore in FY 2023-24. |
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. |
Financials
Strategic Partnerships
and Acquisitions
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.
Major Project Wins
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.
Thermax’s Business Philosophy
Vision
To be a globally respected high-performance organisation offering sustainable solutions in energy and the environment.
Values
- Respect
- Commitment
- Honesty and Integrity
- Concern for Society and the Environment
Ethos
Our business ethos is rooted in good governance. We respect and balance the interests of our diverse stakeholders.
Business Segments
Industrial Products
- Air Pollution Control Systems
- Cooling & Heating Solutions
- Process Heating Solutions
- Water and Wastewater Solutions
- Specialised Services
0%
Share of Total
Revenue
Industrial Infra
- Large Boilers and Fired Heaters
- Projects and Energy Solutions
- Specialised Services
0%
Share of Total
Revenue
Green Solutions
- Build-Own-Operate-Maintain
- Green Hydrogen
- Renewable Energy (Solar/Wind)
0%
Share of Total
Revenue
Chemicals
- Construction Chemicals
- Ion Exchange Resins
- Oil Field Chemicals
- Water Treatment Chemicals
0%
Share of Total
Revenue
Industries Served
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Agriculture & Allied Industries
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Automobiles & Auto Components
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Bio-CNG
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Biotechnology
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Brewery & Distillery
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Cement
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Chemicals
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Construction
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Engineering & Capital Goods
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Ethanol
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Fertiliser & Agro
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FMCG
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Food & Beverages
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Healthcare
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Hospitality
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Infrastructure
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IT & Data Centres
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Manufacturing
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Medical Devices
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Metals
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Oil & Gas
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Paper & Pulp
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Pharmaceuticals
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Power
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Renewable Energy
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Rubber
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Semiconductors
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Telecommunications
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Textiles
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Wood