Thermax
| Company type | Public |
|---|---|
| ISIN | INE152A01029 |
| Industry | Conglomerate |
| Founded | 1980 |
| Headquarters | Pune, Maharashtra, India |
Area served | Worldwide |
Key people |
|
| Products | Integrated products in the areas of clean air, clean energy, clean water and chemicals. |
| Revenue | ₹9,323 crore (US$1.1 billion) (2024)[1] |
| ₹206 crore (US$24 million) (2021)[1] | |
| Total assets | ₹6,506 crore (US$770 million) (2021)[1] |
| Total equity | ₹3,251 crore (US$380 million) (2021)[1] |
| Website | www |
Thermax Ltd is an Indian multinational engineering conglomerate, involved in clean air, clean energy and clean water, headquartered in Pune.[2]
History
Thermax was founded by A. S. Bhathena in 1966 as Wanson India Ltd, manufacturing package boilers. The company subsequently began manufacturing equipment related to cogeneration, air pollution control, water treatment and absorption refrigeration among others.[3][4][5]
In 1981, Bhathena was succeeded by his son-in-law Rohinton Aga as chairman. In February 1995, the company went public and listed on the Bombay Stock Exchange. After Aga's death in 1996, his wife Anu Aga took over the operations.[5]
In 2009, it signed a 51–49 joint venture with US firm SPX Corporation to provide equipment and services for the Indian power sector.[6][7]
In 2010, it signed a joint venture agreement with US-based Babcock & Wilcox to manufacture super-critical boilers for the power sector.[8]
See also
References
- ^ a b c d "Press-Release_Thermax_q4-and-Annual-Results-for-Fy-2023-2024" (PDF). Retrieved 12 May 2024.
- ^ Ghoshal, Sumantra; Piramal, Gita; Bartlett, Christopher A. (2002). Managing Radical Change: What Indian Companies Must Do to Become World-class. Penguin Books India. p. 97. ISBN 978-0-14-100022-0.
- ^ "Thermax Limited". CRISIL. Retrieved 8 May 2025.
- ^ "Thermax Ltd". The Times of India. Archived from the original on 16 October 2012. Retrieved 18 February 2011.
- ^ a b Chaliawala, Nehal (28 April 2025). "Thermax's big test: Can its energy transition bets revive investor confidence?". Mint. Retrieved 8 May 2025.
- ^ "Thermax-SPX JV to have combined investment of 250 mln". Reuters. 26 August 2009. Archived from the original on 15 February 2022. Retrieved 15 February 2022.
- ^ "Thermax in JV with U.S. firm SPX". Reuters. 26 August 2009. Archived from the original on 15 February 2022. Retrieved 15 February 2022.
- ^ "Thermax in JV with Babcock & Wilcox". Business Standard India. 10 March 2010. Archived from the original on 15 February 2022. Retrieved 15 February 2022.