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Thermax: Difference between revisions
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*Ashish Bhandari ([[Managing director|MD]])}} | *Ashish Bhandari ([[Managing director|MD]])}} | ||
| products = Integrated products in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. | | products = Integrated products in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. | ||
| revenue = {{increase}} {{INRConvert|55.02|b}} (2016)<ref name="thermaxindia.com">http://www.thermaxglobal.com/investor-relations/pdf/NSEAFR2016.pdf</ref> | | revenue = {{increase}} {{INRConvert|55.02|b}} (2016)<ref name="thermaxindia.com">http://www.thermaxglobal.com/investor-relations/pdf/NSEAFR2016.pdf {{Bare URL PDF}}</ref> | ||
| operating_income = {{increase}} {{INRConvert|3.89|b}} (2016)<ref name="thermaxindia.com"/> | | operating_income = {{increase}} {{INRConvert|3.89|b}} (2016)<ref name="thermaxindia.com"/> | ||
| profit = {{increase}} {{INRConvert|2.75|b}} (2016)<ref name="thermaxindia.com"/> | | profit = {{increase}} {{INRConvert|2.75|b}} (2016)<ref name="thermaxindia.com"/> | ||
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[[Anu Aga]] was the chairperson of the company from 1996 to 2004, till she handed over the reins to her daughter, [[Meher Pudumjee]].<ref>{{cite news |title= Anu Aga passes Thermax baton to new chairperson|url=http://www.indianexpress.com/oldStory/56382/ |work=[[The Indian Express]] |date=5 October 2004 }}</ref> In 2007, [[Anu Aga]] made it to the List of Richest Indians by Net Worth according to ''[[Forbes]]'' magazine.<ref name=fo>{{cite news |title= India's Richest |url=https://www.forbes.com/lists/2007/77/biz_07india_Indias-Richest_Rank_2.html |date=14 November 2007 |work=[[Forbes]]|page=2}}</ref><ref>{{cite news |title=Anu Aga and triumph of the spirit |url=http://timesofindia.indiatimes.com/city/Anu-Aga-and-triumph-of-the-spirit/articleshow/484592.cms |work=[[The Times of India]] |date=9 February 2004 |first1=Pooja |last1=Vashisht}}</ref> | [[Anu Aga]] was the chairperson of the company from 1996 to 2004, till she handed over the reins to her daughter, [[Meher Pudumjee]].<ref>{{cite news |title= Anu Aga passes Thermax baton to new chairperson|url=http://www.indianexpress.com/oldStory/56382/ |work=[[The Indian Express]] |date=5 October 2004 }}</ref> In 2007, [[Anu Aga]] made it to the List of Richest Indians by Net Worth according to ''[[Forbes]]'' magazine.<ref name=fo>{{cite news |title= India's Richest |url=https://www.forbes.com/lists/2007/77/biz_07india_Indias-Richest_Rank_2.html |date=14 November 2007 |work=[[Forbes]]|page=2}}</ref><ref>{{cite news |title=Anu Aga and triumph of the spirit |url=http://timesofindia.indiatimes.com/city/Anu-Aga-and-triumph-of-the-spirit/articleshow/484592.cms |work=[[The Times of India]] |date=9 February 2004 |first1=Pooja |last1=Vashisht}}</ref> | ||
[[Ashish Bhandari]] is currently the MD and CEO of the company.<ref>https://hr.economictimes.indiatimes.com/news/industry/ashish-bhandari-takes-over-as-mdceo-of-thermax/77874213</ref> | [[Ashish Bhandari]] is currently the MD and CEO of the company.<ref>{{Cite web|url=https://hr.economictimes.indiatimes.com/news/industry/ashish-bhandari-takes-over-as-mdceo-of-thermax/77874213|title = Ashish Bhandari takes over as MD & CEO of Thermax - ETHRWorld}}</ref> | ||
== History == | == History == | ||
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In the 1980s and 1990s, Thermax branched off into [[waste heat recovery unit|waste heat recovery]], absorption cooling and power generation. It went public in 1995. | In the 1980s and 1990s, Thermax branched off into [[waste heat recovery unit|waste heat recovery]], absorption cooling and power generation. It went public in 1995. | ||
Thermax played a key role in the country’s energy shifts – from oil to coal and biomass, to waste heat, solar and other forms of clean energy. In 1987, it started making vapor absorption machines in collaboration with [[Sanyo]] of [[Japan]]. It formed a joint venture in 1988 with [[Babcock & Wilcox]], [[USA]], who make boilers, to make [[Water-tube boiler|steam generation]] units for [[heat recovery steam generator]]s ([[HRSG]]s).<ref>{{cite news|url=https://www.forbes.com/feeds/afx/2008/02/12/afx4643428.html|title=India's Thermax, US' Babcock & Wilcox sign industrial boiler licensing deal|date=12 February 2008|work=Forbes}}</ref> In 1992, it formed the [[Combined Heat and Power Group]]. | Thermax played a key role in the country’s energy shifts – from oil to coal and biomass, to waste heat, solar and other forms of clean energy. In 1987, it started making vapor absorption machines in collaboration with [[Sanyo]] of [[Japan]]. It formed a joint venture in 1988 with [[Babcock & Wilcox]], [[USA]], who make boilers, to make [[Water-tube boiler|steam generation]] units for [[heat recovery steam generator]]s ([[HRSG]]s).<ref>{{cite news|url=https://www.forbes.com/feeds/afx/2008/02/12/afx4643428.html|title=India's Thermax, US' Babcock & Wilcox sign industrial boiler licensing deal|date=12 February 2008|work=Forbes}}{{dead link|date=January 2022|bot=medic}}{{cbignore|bot=medic}}</ref> In 1992, it formed the [[Combined Heat and Power Group]]. | ||
On 15 February 1995 it became a public company on the [[Bombay Stock Exchange]]. It has, since long, been known simply as [[Thermax Limited]]. | On 15 February 1995 it became a public company on the [[Bombay Stock Exchange]]. It has, since long, been known simply as [[Thermax Limited]]. | ||
In 2009, it signed a 51–49 joint venture with [[US]] firm [[SPX Corporation]] to provide equipment and services for the Indian<ref>{{cite news|url=https://www.forbes.com/feeds/afx/2009/08/26/afx6815858.html|title=Thermax-SPX JV to have combined investment of 250 mln|date=26 August 2009|work=Forbes}}</ref> power sector.<ref name="fb">{{cite news|url=https://www.forbes.com/feeds/afx/2009/08/26/afx6815676.html|title=India's Thermax in JV with US firm SPX-signage|date=26 August 2009|work=Forbes}}</ref> | In 2009, it signed a 51–49 joint venture with [[US]] firm [[SPX Corporation]] to provide equipment and services for the Indian<ref>{{cite news|url=https://www.forbes.com/feeds/afx/2009/08/26/afx6815858.html|title=Thermax-SPX JV to have combined investment of 250 mln|date=26 August 2009|work=Forbes}}{{dead link|date=January 2022|bot=medic}}{{cbignore|bot=medic}}</ref> power sector.<ref name="fb">{{cite news|url=https://www.forbes.com/feeds/afx/2009/08/26/afx6815676.html|title=India's Thermax in JV with US firm SPX-signage|date=26 August 2009|work=Forbes}}{{dead link|date=January 2022|bot=medic}}{{cbignore|bot=medic}}</ref> | ||
In 2010, it signed a joint venture agreement with [[US]]-based [[Babcock & Wilcox]] to manufacture super-critical boilers for the power sector.[http://www.thehindubusinessline.com/todays-paper/tp-corporate/thermax-babcock-wilcox-ink-deal-for-boiler-venture/article986168.ece] | In 2010, it signed a joint venture agreement with [[US]]-based [[Babcock & Wilcox]] to manufacture super-critical boilers for the power sector.[http://www.thehindubusinessline.com/todays-paper/tp-corporate/thermax-babcock-wilcox-ink-deal-for-boiler-venture/article986168.ece] | ||
In 2010, Thermax also acquired [[Europe]]an boiler manufacturer, [[Danstroker]] A/S and its [[Germany|German]] subsidiary, [[Omnical Kessel]] for [[Euro]] 29.5 million.<ref name="htanna">{{cite web|url=http://www.indianexpress.com/news/Thermax-acquires-boiler-maker-Danstroker-A-S--German-subsidiary/709020/|title=Thermax acquires boiler-maker Danstroker A/S, German subsidiary|work=Added new acquisition|accessdate=10 November 2010}}</ref> | In 2010, Thermax also acquired [[Europe]]an boiler manufacturer, [[Danstroker]] A/S and its [[Germany|German]] subsidiary, [[Omnical Kessel]] for [[Euro|€]]29.5 million.<ref name="htanna">{{cite web|url=http://www.indianexpress.com/news/Thermax-acquires-boiler-maker-Danstroker-A-S--German-subsidiary/709020/|title=Thermax acquires boiler-maker Danstroker A/S, German subsidiary|work=Added new acquisition|accessdate=10 November 2010}}</ref> | ||
In 2017, Thermax acquired [[Poland|Polish]] boiler manufacturer, [[Weiss (company)|Weiss]] Sp. z.o.o. in [[Poland]].[http://www.thermaxglobal.com/media/pdf/agreement-to-acquire-a-company-in-Poland.pdf] | In 2017, Thermax acquired [[Poland|Polish]] boiler manufacturer, [[Weiss (company)|Weiss]] Sp. z.o.o. in [[Poland]].[http://www.thermaxglobal.com/media/pdf/agreement-to-acquire-a-company-in-Poland.pdf] | ||
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* Construction chemicals | * Construction chemicals | ||
* Speciality chemicals | * Speciality chemicals | ||
==TV Appearance== | |||
The CEO at the time along with Thermax featured prominently in an episode of [[The World's Strictest Parents|Worlds Strictest Parents]] | |||
== See also == | == See also == | ||
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{{Reflist|colwidth=30em}} | {{Reflist|colwidth=30em}} | ||
* [http://beta.profit.ndtv.com/company/show/thermax-ltd Thermax Ltd.] at [[NDTV Profit]] | * [http://beta.profit.ndtv.com/company/show/thermax-ltd Thermax Ltd.] at [[NDTV Profit]] | ||
*[https://www.themachinemaker.com/news/ashish-bhandari-managing-director-ceo-thermax Ashish Bhandari to lead Thermax as its Managing Director & CEO] - Machine Maker, August 2020 | |||
{{Authority control}} | {{Authority control}} | ||