| Type | Public |
|---|---|
| Traded as | BSE: 500411 NSE: THERMAX |
| Industry | Industrial cooling and heating |
| Founded | 1980 |
| Headquarters | 14 Mumbai-Pune Road (NH-4), Wakadewadi, Pune 411 003, India |
| Area served | Worldwide (75 countries) |
| Key people | Meher Pudumjee (Chairperson) M.S.Unnikrishnan (Managing Director) |
| Products | Chillers for large scale air conditioning units, steam generators, and boilers |
| Revenue | 4,883.23 crore (US$927.81 million) [1] |
| Website | www.thermaxindia.com |
Thermax Ltd. (BSE: 500411, NSE: THERMAX) is a multi-national energy and environment engineering [2] company based in India; and in Britain. It manufactures, boilers, vapour absorption machines, offers water and waste solutions and installs captive power projects.[3] Thermax is also a historic brand name of boilers, and the name of a former toughened-glass company.
Anu Aga was the chairperson of the company 1996-2004, till she handed over the reins to her daughter, Meher Pudumjee,[4] and figured amongst the eight richest Indian women, and in 2007 was part of 40 Richest Indians by net worth according to Forbes magazine,[5][6] in 2009 she was at number 55, and continues to be a board member.[2]
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Thermax came into being by harnessing the power of steam, produced by boilers.The company first started with producing small,once through,baby boilers to cater steam required at that time by the hospitals.Thus the business was established in 1966. It was also the year A S Bhathena (father of Ex-chairman Anu Aga) collaborated with a Belgian company, Wanson, to commence business operation as Wanson India Ltd., manufacturing small boilers at a unit in Dadar, Mumbai . The company was renamed Thermax Limited in 1980.[7]
The Thermax company based in India, which has also made boilers, has four manufacturing centres, and operates in seventy five countries. It became known as Thermax Ltd in 1980. In 1987 it started making vapour absorption machines, in collaboration with Sanyo of Japan. It formed a joint venture in 1988 with North Carolina-based Babcock and Wilcox, who make boilers, to make steam generation units for heat recovery steam generators (HRSGs).[8] In 1992 it formed its Combined Heat and Power Group.
On 15 February 1995 it became a public company on the Bombay Stock Exchange. In 2009, it signed a 51-49 joint venture with US firm SPX Corporation to provide equipment and services for Indian[9] power sector.[3]
It has four main offices -
Its main divisions are :[11]
The main company makes absorption chillers used for large air conditioning systems.
The joint venture with Babcock & Wilcox makes B&W-licensed boilers for circulating fluidised beds and HRSGs.