Thermax Limited. - Company Profile

Q: Who are the current directors of Thermax Limited.?

The current directors of Thermax Limited. are Meher Pheroz Pudumjee, Pheroz Pudumjee Naswanjee, Ravi Shankar Gopinath, Shyamak Ramyar Tata, Shashishekhar Pandit Balkrishna, Rajani Kesari, Parag Chandulal Shah, Ashish Bhandari, Rajendran Arunachalam, Janhvie Kishor Khele, Harsh Charandas Mariwala, Mr Rajendran Arunachalam.

It is a machinery and equipment public limited company based in Pune, Maharashtra, India, established in 1980.

1980 Pune, Maharashtra, India Active

Last Updated: December 08, 2025

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About Thermax Limited.

Thermax Limited., a active public limited company, was established on 30 June 1980 in Pune, Maharashtra, India. Engaging in industrial machinery manufacturing within the manufacturing sector, it holds CIN: L29299PN1980PLC022787. Registered under ROC Roc Pune. it is listed on BSE: 500411 and NSE: THERMAX. It has an authorized capital of ₹75.00 Cr and a paid-up capital of ₹23.83 Cr.

Formerly known as Thermo - Dynamics Private Limited. It upholds a compliant status. In 2024, it reported revenue of ₹6,015.42 Cr and a net worth of ₹3,536.70 Cr. Employing 5,828 professional, Its leadership includes Meher Pheroz Pudumjee (Director), Pheroz Pudumjee Naswanjee (Director), Ravi Shankar Gopinath (Director). Past directors included Arnavaz Rohinton Aga, Prakash Manohar Kulkarni, Ravi Shankar Gopinath. It holds ₹2,370.00 Cr open charges and ₹2,805.44 Cr settled loans. Its latest AGM occurred on 31 July 2025, with the balance sheet filed on 31 March 2025. It is based at D-13 Midc Ind Arear D Aga Road Chinchwad, Pune, Maharashtra, 411019.

Company Details

CIN/LLPIN
L29299PN1980PLC022787
Registration Number
022787
Incorporation Date
30 June 1980
Authorized Capital
₹75.00 Cr
Paid-Up Capital
₹23.83 Cr
ROC Code
Roc Pune
Listing Status
Listed (BSE: 500411, NSE: THERMAX)
Company Status
Active

Key Metrics

Authorised Capital ₹ 75.00 Cr as on 08-12-2025
Paid Up Capital ₹ 23.83 Cr as on 08-12-2025
Company Age 45 Year, 7 Months
Last Filing with ROC 31 Mar 2025
Open Charges ₹ 2,370.00 Cr as on 08-12-2025
Satisfied Charges ₹ 2,805.44 Cr as on 08-12-2025
Revenue Growth **** 13.98% (FY 2024)
Profit Growth **** 32.86% (FY 2024)
Ebitda **** 26.37% (FY 2024)
Net Worth 9.91% (FY 2024)
Total Assets **** 9.69% (FY 2024)

Comprehensive Company Insights

Explore comprehensive insights into Thermax Limited. — covering financial performance, compliance records, Competitor, shareholding patterns, directors, key metrics, and litigation history. Unlock to see detailed insights and stay informed.

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Who are the key members and board of directors at Thermax Limited.?

Current Directors

Name	Designation	Appointment Date	Status
Meher Pheroz Pudumjee	Director	15 Jan 2001	Current
Pheroz Pudumjee Naswanjee	Director	15 Jan 2001	Current
Ravi Shankar Gopinath	Director	10 Nov 2021	Current
Shyamak Ramyar Tata	Director	17 Oct 2023	Current
Shashishekhar Pandit Balkrishna	Director	30 May 2017	Current
Rajani Kesari	Director	14 Nov 2018	Current

Past Directors

Name	Designation	Cessation	Status
Pramod Abcsdd	Director	08 Aug 2018	Past
Pramod Abcsdd	Managing Director	30 Jun 2007	Past
Pramod Abcsdd	Additional Director	02 Aug 2022	Past
Pramod Abcsdd	Additional Director	05 Jan 2024	Past
Pramod Abcsdd	Additional Director	08 Aug 2017	Past
Pramod Abcsdd	Director	08 Aug 2018	Past

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Financial Performance of Thermax.

Thermax Limited., for the financial year ended 2024, experienced significant growth in revenue, with a 13.98% increase. The company also saw a substantial improvement in profitability, with a 32.86% increase in profit. The company's net worth moved up by a moderate rise of 9.91%.

Date	Amount	Transaction Name	Valuation	Lead Investors	Investors
Jul, 2021	Amount	Post-IPO - Grab	Valuation	investors	Emtek
Feb, 2021	Amount	Post-IPO - Grab	Valuation	investors	Signite Partners
Jan, 2021	Amount	Post-IPO - Grab	Valuation	investors	Hana Financial Group , GGV Capital
Feb, 2021	Amount	Post-IPO - Grab	Valuation	investors	Signite Partners

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Key Matrics
Balance Sheet
Profit and Loss
Cash Flow
Ratios

Metrics

(FY 2023)

YOY Growth

(FY 2022)

(FY 2021)

(FY 2020)

(FY 2019)

Total Revenue

********

13.98%

*******

Revenue from Operations

*******

13.24%

*******

Total Assets

*******

9.69%

*******

Profit or Loss

*******

32.86%

*******

Net Worth

*******

9.91%

*******

EBITDA

*******

26.37%

*******

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What is the Ownership and Shareholding Structure of Thermax?

In 2023, Thermax had a promoter holding of 61.99% and a public holding of 38.01%. The company had 18 Subsidiaries and 2 Associate Companies. Access key insights, ownership, including shareholding patterns, funding, foreign investors, KMP remuneration, group structure, and overseas investments.

Shareholding Pattern (FY 2024)

Promoters: 92.83%
Public: 4.10%
Others: 3.07%

Shareholding Pattern over the Year

	FY (2024)	FY (2023)	FY (2022)	FY (2021)	FY (2020)
Promoters	92.83	94.62	94.55	94.55	94.55
Public	4.10	3.89	3.95	3.96	3.98
Others	3.07	1.49	1.50	1.49	1.47

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Charges (Loans)

Open Charges

₹23,700,000,000.00

Satisfied Charges

₹28,054,386,280.00

Charges Breakdown by Lending Institutions

Others : 1470.00 Cr
Citi Bank N.A. : 450.00 Cr
Axis Bank Limited : 250.00 Cr
The Hongkong And Shanghai Banking Corporation Limited : 200.00 Cr

Latest Charge Details

Date	Lender	Amount	Status
11 Feb 2025	Axis Bank Limited	₹250.00 Cr	Open
15 Nov 2021	Others	₹330.00 Cr	Open
15 Jun 2021	Others	₹520.00 Cr	Open
24 May 2021	The Hongkong And Shanghai Banking Corporation Limited	₹200.00 Cr	Open
19 May 2021	Others	₹300.00 Cr	Open

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How Many Employees Work at Thermax?

Thermax has a workforce of 5828 employees as of Apr 10, 2025. Unlock access to detailed historical data on individuals associated with the company, including employment records, contributions to the Employees' Provident Fund Organization (EPFO), and other related insights.

Employee Date	Number of Employees
2020	78,000
2021	80,500
2022	83,200
2023	86,000
2024	89,500
2025	92,000

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Deals i

Gain comprehensive insights into the Deals and Valuation data of Thermax, offering detailed information on various transactions, including security allotment data. Explore the intricate details of financial agreements, mergers, acquisitions, divestitures, and strategic partnerships that have shaped Thermax's trajectory.

Rating

Access the credit rating data, providing valuable insights into the company's creditworthiness and financial stability. Explore assessments from leading credit rating agencies, evaluating factors such as debt obligations, liquidity, profitability, and overall financial health.

Alerts

Stay informed about regulatory alerts and litigation involving and associated companies. Receive timely updates on legal proceedings, regulatory changes, and compliance issues that may impact the company's operations, reputation, and financial performance. Monitor litigation involving subsidiaries, joint ventures, and other affiliated entities to assess potential risks and liabilities.

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Latest Updates, News, and FAQs on Thermax

Recent Activity within the Organization

Annual General Meeting

Thermax Limited. last Annual general meeting of members was held on 31 Jul 2025 as per latest MCA records. was recorded as a recent event.
31 Jul 2025
Charges

Progress on A charge with The Hongkong And Shanghai Banking Corporation Limited of Rs. 200.00 Cr registered on 24 May 2021 with Charge ID 100448894 was modified on 09 Jun 2025. was documented.
09 Jun 2025
Charges

The activity A charge with Others of Rs. 320.00 Cr registered on 18 May 2021 with Charge ID 100445730 was modified on 02 Apr 2025. was completed.
02 Apr 2025
Balance Sheet

Progress on Thermax Limited. has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Pune. was documented.
31 Mar 2025
Charges

Progress on A charge with Axis Bank Limited amounted to Rs. 250.00 Cr with Charge ID 101055544 was registered on 11 Feb 2025. was documented.
11 Feb 2025
Director Appointment

Parag Chandulal Shah was appointed as a Director was appointed as a Director on 12 Dec 2024 & has been associated with this company since 1 year 2 months . was recorded as a recent event.
12 Dec 2024

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