Thermax Group recorded a total revenue of Rs. 4,791 crore in FY 2020-21, as compared to Rs. 5,731 crore in FY 2019-20. Profit after tax stood at Rs. 207 crore, compared to Rs. 212 crore in the previous year.
Thermax Group’s MD & CEO, M.S. Unnikrishnan, retired on August 31, 2020; Ashish Bhandari took over the reins of the company as the new MD & CEO with effect from September 1, 2020.
Thermax booked an order of Rs. 320 crore to set up a captive Combined Heat and Power (CHP) plant on EPC basis for a public sector biorefinery company in Assam. The company is developing India’s first biorefinery, to produce cellulosic ethanol from bamboo biomass.
Thermax Babcock & Wilcox Energy Solutions Private Limited (TBWES), a wholly-owned subsidiary of Thermax, signed a know-how transfer and licence agreement with Germany based Steinmüller Babcock Environment GmbH (SBE) for waste to energy technology. Under the agreement, TBWES will design, engineer, manufacture and sell Municipal Solid Waste (MSW) fired waste to energy solutions, by incorporating SBE’s well established grate and boiler technology.
The Chemical segment witnessed its highest ever growth in three years, registering a profit before interest of Rs. 103 crore in FY 2020-21. Additional manufacturing capacity of 10,000 m3 per annum was added to meet the growing demand for specialty chemicals.
Thermax Onsite Energy Solutions Limited (TOESL), a 100% subsidiary providing utility delivery services, concluded its maiden deals for international, multi-utility, cogeneration and treated effluent supply. This translated into more than 3x growth in order booking over the previous fiscal.
Thermax partnered with Defence Research and Development Organisation (DRDO) for the supply of fuel cell stacks, to realise India’s ambition of developing homegrown Air Independent Propulsion system for the Scorpene class submarines of the Indian Navy. A crucial milestone of the programme was the successful demonstration of a land-based prototype to the Indian Navy on March 8, 2021.
The Group announced an agreement with Power Roll, a developer of unique, low-cost and lightweight flexible solar films, to develop the market for solar film in India.
Thermax offers integrated solutions in the areas of energy and environment – heating, cooling, power, water and waste management, air pollution control and chemicals.
To be a globally respected, high performance organisation offering sustainable solutions in energy and the environment
Honesty and Integrity
Concern for Society and the Environment
For detailed information on how Thermax engages with its stakeholders, for Social and Relationship Capital and Human Capital click here
The pandemic sharpened the company’s focus on the overall well-being, health and safety of employees.
Thermax is reimagining customer experience, and advancing its capabilities to adapt to the fast changing external environment.
Thermax acknowledges the dedication of its channel and vendor partners, who have been working tirelessly during these challenging times to maintain their supply to the company’s manufacturing sites in India.
In keeping with its long tradition of promoting the well-being of communities, Thermax has been adopting several key measures to battle the pandemic.
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