Integrated Report
About this Integrated Report
An Energy and Environment Solutions Provider
Propelling a Sustainable Growth Strategy
Our Business Model
Managing the Six Capitals for Sustainable Value Creation
Managing Risks
Addressing Material Matters
Corporate Overview
Towards a Zero-Carbon Future
Awards and Accolades
Battling the COVID-19 Crisis
Message from the Chairperson
Message from the Managing Director
Board of Directors
Management Executive Council
Corporate Information
Statutory Reports
Management Discussion and Analysis
Directors’ Report
Corporate Governance Report
Business Responsibility Report
Energy Conservation,Technology Absorption
Technology Absorption and Foreign Exchange
Earnings and Outgo
Annual Report on CSR Activities and CSR Policy
Secretarial Audit Report – Thermax Limited
Secretarial Audit Report – Thermax Babcock &
Wilcox Energy Solutions Private Limited
Financial Statements
Standalone Financial Statements
Consolidated Financial Statements
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Integrated Report
About this Integrated Report
An Energy and Environment Solutions Provider
Propelling a Sustainable Growth Strategy
Our Business Model
Managing the Six Capitals for Sustainable Value Creation
Managing Risks
Addressing Material Matters
Corporate Overview
Towards a Zero-Carbon Future
Awards and Accolades
Battling the COVID-19 Crisis
Message from the Chairperson
Message from the Managing Director
Board of Directors
Management Executive Council
Corporate Information
Statutory Reports
Management Discussion and Analysis
Directors’ Report
Corporate Governance Report
Business Responsibility Report
Energy Conservation,Technology Absorption
Technology Absorption and Foreign Exchange
Earnings and Outgo
Annual Report on CSR Activities and CSR Policy
Secretarial Audit Report – Thermax Limited
Secretarial Audit Report – Thermax Babcock &
Wilcox Energy Solutions Private Limited
Financial Statements
Standalone Financial Statements
Consolidated Financial Statements
Management Executive Council
Ashish Bhandari
Managing Director and CEO
B.C. Mahesh
Executive Vice President and Group Head - Power
Bill Shukla
Executive Vice President and Group Head - Environment Business
Hemant Mohgaonkar
Executive Vice President and Group Head - Cooling & Heating
Jasmeet Bhatia
Executive Vice President - HR, IR, HSE, Administration and Corporate Communication
Dr. Mahesh Murthy
Chief Technology Officer and Head of Research Technology and Innovation Centre
Pravin Karve
Chief Executive Officer - TBWES
Prosenjit Sengupta
Executive Vice President and Group Chief Digital Officer
Rajendran Arunachalam
Executive Vice President and Group Chief Financial Officer
Shekhar Kashalikar
Senior Vice President - TBWES