{{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) | 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.<ref>{{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}}</ref>
== 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.<ref>{{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}}</ref><ref>{{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 }}</ref><ref name="test"/>
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.<ref name="test">{{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}}</ref>
In 2009, it signed a 51–49 joint venture with US firm SPX Corporation to provide equipment and services for the Indian power sector.<ref>{{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}}</ref><ref name="fb">{{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}}</ref>
In 2010, it signed a joint venture agreement with US-based Babcock & Wilcox to manufacture super-critical boilers for the power sector.<ref>{{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}}</ref>
== See also == * List of boiler types, by manufacturer
==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 brands Category:Indian companies established in 1980 Category:1980 establishments in Maharashtra Category:Companies listed on the National Stock Exchange of India Category:Companies listed on the Bombay Stock Exchange