Thermax
{{Short description|Indian multinational engineering company}}
{{Use Indian English|date=August 2021}}
{{Use dmy dates|date=July 2024}}
{{Infobox company
| name = Thermax
| logo = Thermax logo.svg
| logo_size = 120px
| type = Public
| traded_as = {{plainlist|
- {{BSE|500411}}
- {{NSE|THERMAX}}}}
| ISIN = INE152A01029
| industry = Conglomerate
| foundation = {{start date and age|1980}}
| location = Pune, Maharashtra
| location_country = India
| area_served = Worldwide
| key_people = {{plainlist|
- Meher Pudumjee (Chairperson)
- Ashish Bhandari (MD)}}
| products = Integrated products in the areas of clean air, clean energy, clean water and chemicals.
| revenue = {{increase}} {{INRConvert|9323|c}} (2024){{cite web |title=Press-Release_Thermax_q4-and-Annual-Results-for-Fy-2023-2024|url=https://www.thermaxglobal.com/wp-content/uploads/2024/05/Press-Release-Thermax-Limited-Q4-FY-2023-24.pdf |access-date=12 May 2024}}
| profit = {{increase}} {{INRConvert|206|c}} (2021)
| assets = {{increase}} {{INRConvert|6506|c}} (2021)
| equity = {{increase}} {{INRConvert|3251|c}} (2021)
| num_employees =
| homepage = {{URL|www.thermaxglobal.com}}
}}
Thermax Ltd is an Indian multinational engineering conglomerate, involved in clean air, clean energy and clean water, headquartered in Pune.{{Cite book |last1=Ghoshal |first1=Sumantra |url=https://books.google.com/books?id=DzRR9Q8MVoYC&dq=thermax+pune&pg=PA97 |title=Managing Radical Change: What Indian Companies Must Do to Become World-class |last2=Piramal |first2=Gita |last3=Bartlett |first3=Christopher A. |date=2002 |publisher=Penguin Books India |isbn=978-0-14-100022-0 |pages=97}}
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.{{cite news |title=Thermax Limited |url=https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/ThermaxLimited_December%2020_%202024_RR_356311.html |access-date=8 May 2025 |work=CRISIL}}{{cite news | url=http://economictimes.indiatimes.com/thermax-ltd/infocompanyhistory/companyid-8165.cms | work=The Times of India | title=Thermax Ltd | access-date=18 February 2011 | archive-date=16 October 2012 | archive-url=https://web.archive.org/web/20121016170613/http://economictimes.indiatimes.com/thermax-ltd/infocompanyhistory/companyid-8165.cms | url-status=live }}
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.{{cite news |last1=Chaliawala |first1=Nehal |title=Thermax's big test: Can its energy transition bets revive investor confidence? |url=https://www.livemint.com/companies/thermax-steam-renewable-energy-anu-aga-meher-pudumjee-shareholder-investors-revenue-margins-11745840686686.html |access-date=8 May 2025 |work=Mint |date=28 April 2025 |language=en}}
In 2009, it signed a 51–49 joint venture with US firm SPX Corporation to provide equipment and services for the Indian power sector.{{Cite news|date=2009-08-26|title=Thermax-SPX JV to have combined investment of 250 mln|work=Reuters|url=https://www.reuters.com/article/thermax-jv-investment-idINBMB00839720090826|access-date=2022-02-15|archive-date=15 February 2022|archive-url=https://web.archive.org/web/20220215102451/https://www.reuters.com/article/thermax-jv-investment-idINBMB00839720090826|url-status=live}}{{Cite news|date=2009-08-26|title=Thermax in JV with U.S. firm SPX|work=Reuters|url=https://www.reuters.com/article/idINIndia-41984620090826|access-date=2022-02-15|archive-date=15 February 2022|archive-url=https://web.archive.org/web/20220215102447/https://www.reuters.com/article/idINIndia-41984620090826|url-status=live}}
In 2010, it signed a joint venture agreement with US-based Babcock & Wilcox to manufacture super-critical boilers for the power sector.{{Cite news|date=2010-03-10|title=Thermax in JV with Babcock & Wilcox|work=Business Standard India|url=https://www.business-standard.com/article/companies/thermax-in-jv-with-babcock-wilcox-110031000146_1.html|access-date=2022-02-15|archive-date=15 February 2022|archive-url=https://web.archive.org/web/20220215102447/https://www.business-standard.com/article/companies/thermax-in-jv-with-babcock-wilcox-110031000146_1.html|url-status=live}}
See also
References
{{Reflist}}
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Category:Heating, ventilation, and air conditioning companies
Category:Manufacturing companies established in 1980
Category:Manufacturing companies based in Pune
Category:Multinational companies headquartered in India
Category:Engineering companies of India
Category:Indian companies established in 1980
Category:1980 establishments in Maharashtra
Category:Companies listed on the National Stock Exchange of India