About the theme
A Trusted Partner in
Energy Transition

The global commitment to sustainability, rapid technology advancement and growing environmental concerns have occasioned a paradigm shift in the energy landscape.

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Corporate overview
Exploring Thermax
at a Glance

Headquartered in Pune, Thermax Limited (NSE: THERMAX) was incorporated in 1980. Today, we are a leading Company in the energy and environment space and a trusted partner in energy transition. Our extensive portfolio offers solutions in heating, cooling, power generation, water & wastewater treatment & recycling, pollution inhibition, and chemicals, prioritising clean air, energy, and water. Leveraging our longstanding industry partnerships, we ensure a unified energy and environment management experience.

0

Indian Subsidiaries

0+ Countries

Sales and Service Presence

0

International Subsidiaries

0

Permanent Employees Including Workmen, Globally

0

Manufacturing Facilities
(10 in India and 4 overseas)

Key Highlights of FY 2023-24

Consolidated
revenue

Rs. 0
crore

(FY 2023 Rs. 8,090 crore)

Consolidated Profit
After Tax (PAT)

Rs. 0
crore

(FY 2023 Rs. 451 crore)

Consolidated
order booking

Rs. 0
crore

(FY 2023 Rs. 8,788 crore)

Repositioned as a 'Trusted Partner
in Energy Transition'

0 years

Thermax has been a pioneer in delivering
innovative energy solutions.

Thermax
received

IMD Global Family Business Award 2023

at the FBN Global Summit held in Paris, France, underscoring our excellence as a global family enterprise.

Thermax's subsidiary, TBWES,
shipped its first consignment of

0 assembled modules

to a prominent waste-to-energy OEM in Europe,
part of a prestigious UK project.
Message from the Chairperson
Building a Sustainable Future Together
Message from the Chairperson
Building a Sustainable Future Together

Thermax continues to drive progress in clean air, clean energy, clean water, and the chemical verticals through its engineering and innovation prowess. With energy and environment at the core of our vision, and with climate change increasingly becoming a pressing concern, we have delved internally, to reflect and align ourselves with the changing energy landscape and meet the demands of our customers.”

Meher Pudumjee

Chairperson

Message from the MD & CEO
A Year of Transformation in Building an Energy Transition Company
Message from the MD & CEO
A Year of Transformation in Building an Energy Transition Company

“As a Company that has been part of India’s energy spectrum for more than 50 years, Thermax has consistently served as a trusted partner to its customers in fulfilling their energy requirements. Thermax is evolving to become a go-to solutions provider for implementing new-age energy solutions.”

Ashish Bhandari

MD & CEO

Stakeholder wise highlights
Forging Partnerships for Excellence

Owners & Shareholders

We enhance shareholder value through innovative and sustainable solutions, delivering operational excellence and driving long-term profitability.

Rs. 0 crore

Total Revenue

Rs. 0

Dividend Declared Per Share

0%

Profit after Tax Growth

Customers

Our customers are at the heart of everything we do. From ideation to execution, we collaborate closely with them to build a portfolio of products and solutions aligned with their evolving needs.

Rs. 0 crore

Order Book

Rs. 0 crore

Order Balance

Rs. 0 crore

International Revenue

Employees

Our employees are the bedrock of our organisation. We encourage a workplace culture that centres on inclusivity, collaboration, and continuous learning.

0

Total Permanent Staff Employees

0%

Regrettable Attrition

0%

Gender Ratio

Vendors and Business Partners

Our channel partners play a pivotal role in helping us achieve our vision.

0

No. of Orders through Channel Network

0

No. of Channel Partners

0

No. of Micro and Small Suppliers

Communities and Academic Groups

Thermax Foundation (TF), established in 2007, is the philanthropic arm of Thermax. The Foundation’s core mission is to bridge the educational divide, empowering underprivileged children to break the cycle of poverty and build a brighter future.

Rs. 0 crore

CSR Expenditure

0

No. of Student Beneficiaries

0

Government Schemes Facilitated

Planet

We acknowledge our responsibility of preserving our planet for present and future generations.

0,0 m3

Water Reused and Recycled

6,372

Trees Planted (Saplings)

0 tCO2e

Carbon Emission Reduction

Government Authorities

The Government of India plays a pivotal role in shaping the nation’s energy landscape and is keenly driving the transformation towards a sustainable future.

Rs. 0 crore

Investment by Government in Our R&D Projects
Strategic objectives
Mapping Strategies for a Sustainable Future

Our strategies are defined by our core values. We prioritise innovation, sustainability, and global expansion, with an emphasis on creating value for our stakeholders while achieving energy efficiency, reducing emissions, and promoting clean energy solutions.

SO1

Innovate for Energy Transition

SO1

Innovate for Energy Transition

Focus Areas
  • Develop cutting-edge energy transition products
  • Foster technology partnerships
  • Invest in R&D
  • Penetrate the market with energy transition solutions as One Thermax
S02

Strengthen Solutions Businesses

S02

Strengthen Solutions Businesses

Focus Areas
  • Implement build-own-operate (BOO) model for utility delivery services
  • Provide renewable energy solutions
  • Offer end-to-end energy management for utilities
SO3

Scale Up Businesses Relating to Sustainability and Urbanisation

SO3

Scale Up Businesses Relating to Sustainability and Urbanisation

Focus Areas
  • Form strategic partnerships and diversify product portfolio
  • Establish new growth units
  • Expand manufacturing capabilities and capacities
S04

Drive Digital Transformation

S04

Drive Digital Transformation

Focus Areas
  • Increase digital interventions across processes
  • Proliferate customer-centric digital platforms
  • Strengthen cybersecurity measures
S05

Build an Agile, Market- Responsive Organisation Structure

S05

Build an Agile, Market- Responsive Organisation Structure

Focus Areas
  • Expand and diversify businesses
  • Restructure for sustainable growth
  • Drive internal changes to mobilise, manage, and retain talent
S06

Energise the Core

S06

Energise the Core

Focus Areas
  • Increase the share of green offerings
  • Grow services portfolio
  • Internationalisation
Awards and Accolades
Recognising Our Achievements
(From left) Non-Executive Director Pheroz Pudumjee, Former Chairperson Anu Aga and Chairperson Meher Pudumjee receive the IMD Global Family Business Award at the 32nd Family Business Network (FBN) Global Summit held in Paris, France
The Best Business
Led by a Woman

Thermax clinched the coveted ‘Best Business Led by a Woman’ award in the Giga category at the Money control Indian Family Business Awards 2022, held in New Delhi.

Act of Compassion
Awards

Thermax Foundation emerged as a winner among over 120 entries to bag the prestigious Act of Compassion Awards in the ‘Education and Skill Building’ category.

TCM
Awards

Thermax’s Heating and Chemical businesses achieved Level 3 (Operational Level) in the ‘Total Cost Maturity Model’ at the Confederation of Indian Industry’s Total Cost Management movement. A distinguished jury panel conducted thorough evaluations, affirming the businesses’ commitment to innovative and holistic cost management strategies for sustainable outcomes.

India Leadership Forum and
Awards 2023

Thermax’s Chemical Procurement Team won the ‘Excellence in Procurement’ honour at the 5th Procurement India Awards. The award emphasises Thermax’s commitment to building sustainable value chains through enduring partnerships with vendors, contractors, and channel associates.

Projects and Energy Solutions won the Gold Award

At the 38th Convention of Quality Circle & Allied Concepts Competition organised by Quality Circle Forum of India (QCFI), which took place in Pune, Maharashtra, Thermax’s Projects and Energy Solutions team won the Gold Award for their case study titled ‘Improving Machine Run-Time and Saving Money’. It showcased how Thermax’s recommendation based on Kaizen technique led the customers to achieve a cumulative saving.

FIEO Export Excellence
Awards

Thermax was recognised for outstanding contributions in exports under two categories by the Federation of Indian Export Organisations (FIEO) - Western region at the annual Export Excellence Awards ceremony, which was held on March 25 in Mumbai, Maharashtra.

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