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Thermax India Pvt Ltd.
Public company
Traded as BSE500411
Industry Energy and Environmental engineering
Founded 1980
Headquarters Pune, India
Area served
Worldwide (75 countries)
Key people
Meher Pudumjee
(MD) , G.P. Kulkarni (CS)
Products Chillers for large scale air conditioning units, steam generators, and boilers
Revenue 55.02 billion (US$850 million) (2016)[1]
3.89 billion (US$60 million) (2016)[1]
Profit 2.75 billion (US$43 million) (2016)[1]
Total assets 62.36 billion (US$970 million) (2016)[1]
Total equity 23.55 billion (US$370 million) (2016)[1]

Thermax. D Ltd. (BSE500411, NSETHERMAX) is an Indian energy and environment engineering[2] company based in India and 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.

Thermax was founded by A. S. Bathena and later taken over by R. D. Aga who served as the chairman. After the death of R. D. Aga, Anu aga his wife and heading HR at that time became the chairperson.

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] i


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]

  • Note: "Thermax" was also a brand name for Horizontal boilers manufactured by Ruston and Hornsby.

Thermax Ltd (INDIA)[edit]

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 & 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] Indian wing is in Pune Area.


  • In November 2010, Thermax acquired European boiler manufacturer Danstroker A/S, and its German subsidiary, Omnical Kessel for Euro 29.5M.[10]


It has four main offices –

  • Thermax (Europe) Ltd is based in Fenny Stratford, Milton Keynes in England (not far from IKEA).
  • Thermax Inc – based in Northville, Michigan, USA
  • Thermax do Brasil Energia e Equipamentos Ltda – Brazil
  • Thermax (Zhejiang) Cooling & Heating Engineering Co – China

Its main divisions are :[11]

  • Cooling and Heating (C & H)division.
  • Boilers and Heaters (B & H)division.
  • Power division.
  • Enviro division.
  • Chemical and Water division.
  • Solar energy division.


The main company makes absorption chillers used for large air conditioning systems & Heating equipments such as steam boilers,thermic fluid heaters,hot water generators – using a variety of solid, liquid and gaseous fuels.

The joint venture with Babcock & Wilcox makes B&W-licensed boilers for circulating fluidised beds and HRSGs.

See also[edit]


External links[edit]