2018 has been a year of turnaround for Thermax with an all-time high order booking after a continued period of challenges. The year that went by also witnessed our new manufacturing plants at Dahej and Indonesia stabilise their operations and the Sri City facility commence production. These were fairly large investments committed by us to prepare the organisation in capturing global market share. We also progressed well on our strategy of devolatilising our projects businesses and linearise our revenue spikes. We have leveraged this reversal trend to launch the next phase of growth for our company, christened as Thermax 3.0 and you will hear more during the year.

The product businesses of our company are working towards creating a new brand with differentiated offerings and superior services targeting the Commercial sector. A major initiative on the horizon is digitising our products and solutions as well as our entire business processes, starting with customer acquisition to lifecycle management. This transformational journey should take us ahead of the competition, bring us closer to our customers and elevate us as a smarter Thermax.

Let us begin the new year with a commitment to be relevant by becoming both technically and intellectually smarter as well as partake and lead the path towards Thermax 3.0.

Wish you and your family a happy and prosperous new year ahead!

M.S. Unnikrishnan