About Thermax Engineering Construction Company Limited
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Thermax Engineering Construction Company Limited is a public limited company based in Pune, Maharashtra, India, a subsidiary of Thermax Limited.. It operates in the procurement and construction (epc) segment of the engineering sector. It was incorporated on 14 August 1991 and has been in existence for over 35 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U29246MH1991PLC062959. Its GSTIN is 27AABCT0243Q1Z4 (Maharashtra). The company holds 17 GST registrations, of which 5 are active.
The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹4.5 Cr. It is led by directors including Sandeep Prabhakar Deshpande and Rajesh Channakeshaviah Bukinkere.
Its last annual general meeting (AGM) was held on 21 July 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Thermax House 14 Mumbai – Pune Road Wakdewadi, Maharashtra, India – 411003.
As per the financials filed for FY 2025, the company reported a revenue of ₹57.53 Lakh, a decline of 57% compared to the previous year. For the same year it recorded a net loss of ₹18.42 Lakh (net margin -32%) and EBITDA of -₹18.42 Lakh (EBITDA margin -32%). Revenue has declined at a compounded annual rate (CAGR) of 61% over three years and 56% over five years.
As per MCA filings, the company has satisfied charges of ₹8 Cr on record. Court records list 8 cases involving the company, including 2 filed by the company and 6 filed against it. The company has 1 deal on record (1 rights issue); the latest was in March 2008. The company has 6 MSME Form 1 returns on record between 2019 and 2020, listing 8 overdue payments to 5 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website thermaxglobal.com.
Company details
Contact details
Thermax Engineering Construction Company Limited's registered office is in Pune, Maharashtra. Its website is thermaxglobal.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressThermax House 14 Mumbai – Pune Road Wakdewadi, Maharashtra, India – 411003
- IndustryEngineering, Procurement & Construction (EPC), Engineering
To see the full contact details of Thermax Engineering Construction Company Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Thermax Engineering Construction Company is construction. In detail, this covers demolition & site preparation, electrical, plumbing & other specialized construction activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F3 | Demolition & site preparation, Electrical, plumbing & other Specialized construction Activities |
Financials of Thermax Engineering Construction Company Limited
FY 2025 filings availableThermax Engineering Construction Company Limited reported revenue of ₹57.53 Lakh (down 57% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 56% over five years, including a 57% fall in the latest year. EBITDA fell 120% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹18.42 Lakh | ||||
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| Net Profit (PAT) | -₹18.42 Lakh | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -32% | ||||
| Net Profit Margin | -32% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Thermax Engineering Construction Company Limited, buy the company report.
Board of directors of Thermax Engineering Construction Company Limited
Thermax Engineering Construction Company has 4 current directors and 20 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sandeep Prabhakar Deshpande Also directs: Thermax Chemical Solutions Private Limited, Thermax Instrumentation Limited, Buildtech Products India Private Limited and 2 more | Director | 20 Mar 2025 | 1 Years 7 Months | Current |
| Rajesh Channakeshaviah Bukinkere Also directs: Thermax Babcock & Wilcox Energy Solutions Limited | Director | 01 Feb 2024 | 2 Years 8 Months | Current |
| Pravin Damodar Karve | Director | 16 Oct 2013 | 13 Years 0 Months | Current |
| Niranjan Manohar Pawgi | Additional Director | 29 Jul 2025 | 1 Years 2 Months | Current |
Auditor
Thermax Engineering Construction Company Limited is audited by B. K. Khare & Co for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B. K. Khare & Co | FY 2023 | 105102W |
Shareholding
The shareholding of Thermax Engineering Construction Company Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Thermax Engineering Construction Company Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 21 Jul 2011 | 10300798 | Union Bank of India Limited | ₹7 Cr | Satisfied | |
| 13 Apr 1999 | 80055518 | Oriental Bank of Commerce | ₹1 Cr | Satisfied |
To see the full charge records of Thermax Engineering Construction Company Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Thermax Engineering Construction Company Limited has 1 deal on record (1 rights issue); the latest was in March 2008.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2008 | Rights issue | ₹3 Cr | Investors: Thermax Limited. |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Thermax Engineering Construction Company Limited has 8 court cases on record: 2 filed by Thermax Engineering Construction Company, 6 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 5 | 5 | 0 |
| District courts | 3 | 1 | 0 |
Cases on record (5 of 8)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South Twenty Four Parganas, West Bengal | Interim or miscellaneous application | Filed by the company against M/S Rohit Ferro Tech Limited | Disposed |
| District court, South Twenty Four Parganas, West Bengal | Interim or miscellaneous application | Filed by the company against M/S. Rohit Ferro Tech Limited | Disposed |
| High Court, JHARKHAND | Writ petition | Filed against the company by Manpreet Engineering and Construction Company Through Its Partner Avtar Singh | Disposed |
| High Court, JHARKHAND | Writ petition | Filed against the company by Manpreet Engineering and Construction Through Its Partner Avtar Singh | Disposed |
| District court, Dhenkanal, Orissa | Court case (2 (c)cc) | Filed against the company by State of Odisha | Disposed |
To see the full case history of Thermax Engineering Construction Company Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Thermax Engineering Construction Company Limited was last rated by Icra on 07 May 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 07 May 2021 |
To see the full credit ratings and regulatory alerts of Thermax Engineering Construction Company Limited, buy the company report.
MSME payment delays
Thermax Engineering Construction Company Limited has 6 MSME Form 1 returns on record between 2019 and 2020, listing 8 overdue payments to 5 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 5)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| R K Insulation Engineers and Contractor | |||
| Distinct Technoconcept Private Limited | |||
| an individual supplier | |||
| Aarvi Encon Limited | |||
| Castwel Industries |
To see the full MSME payment records of Thermax Engineering Construction Company Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Thermax Engineering Construction Company has 17 GST registrations: 5 active and 12 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCT0243Q1Z4 | Maharashtra | Active | 01 Jul 2017 |
| 08AABCT0243Q1Z4 | Rajasthan | Active | 01 Jul 2017 |
| 18AABCT0243Q1Z3 | Assam | Active | 01 Jul 2017 |
| 19AABCT0243Q1Z1 | West Bengal | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Thermax Engineering Construction Company Limited, buy the company report.
Recent activity
Thermax Engineering Construction Company Limited has 22 board changes on record since 2007: 4 appointments and 18 cessations. The latest: Niranjan Manohar Pawgi was appointed as Additional Director on 29 Jul 2025.
18 earlier events are in the company report.
News
Frequently asked questions
Thermax Engineering Construction Company is an active public limited company based in Pune, Maharashtra, India. The company works in procurement and construction (epc), within the engineering industry. It was incorporated on 14 August 1991 (35+ years old) and is registered under CIN U29246MH1991PLC062959.
Thermax Engineering Construction Company has 4 current directors:
- Sandeep Prabhakar Deshpande - Director
- Rajesh Channakeshaviah Bukinkere - Director
- Pravin Damodar Karve - Director
- Niranjan Manohar Pawgi - Additional Director
The latest financial statements of Thermax Engineering Construction Company on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 21 July 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Thermax Engineering Construction Company is 27AABCT0243Q1Z4, registered in Maharashtra. The company has 17 GST registrations in all, of which 5 are active and 12 are cancelled or inactive. Other active GSTINs include 08AABCT0243Q1Z4 (Rajasthan), 18AABCT0243Q1Z3 (Assam), 19AABCT0243Q1Z1 (West Bengal).
The CIN (Corporate Identification Number) of Thermax Engineering Construction Company is U29246MH1991PLC062959. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Thermax Engineering Construction Company has 8 court cases on record: 2 filed by the company and 6 filed against it. Most are in the high courts.
Thermax Engineering Construction Company was incorporated on 14 August 1991, making it 35+ years old. It is registered with the Registrar of Companies, Pune.
Thermax Engineering Construction Company has 1 deal on record (1 rights issue); the latest was in March 2008.
Niranjan Manohar Pawgi was appointed as Additional Director on 29 Jul 2025. Sandeep Prabhakar Deshpande ceased to be Additional Director on 20 Jul 2025. Sandeep Prabhakar Deshpande was appointed as Director on 20 Mar 2025. Thermax Engineering Construction Company has 22 board changes on record in total.
Thermax Engineering Construction Company has 6 MSME Form 1 returns on record between 2019 and 2020, listing 8 overdue payments to 5 micro and small suppliers. The latest return was filed on 26 Oct 2020.
Thermax Engineering Construction Company can be reached through the website thermaxglobal.com. Its registered office is in Pune, Maharashtra, India.