Thermax - About the company
Thermax is a public company based in Pune (India), founded in 1966. It operates as a Provider of energy and environmental solutions for industrial and commercial sectors. This includes boiler and heater systems, process heating solutions, steam engineering, absorption cooling, and air pollution control technologies. The company also offers water and waste solutions, chemical services, and outsourced utility delivery services. A focus is on sustainable solutions, including solar power and green technologies, to improve resource productivity and environmental performance for clients. They provide services across the entire lifecycle, from project design and engineering to operations and maintenance.. Thermax has raised an undisclosed amount in funding. The company has 3641 active competitors, including 132 funded and 683 that have exited. Its top competitors include companies like Daikin, DuPont and Mitsubishielectric.
Company Details
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- Website
- thermaxglobal.com
- Social
- Email ID
- *****@thermaxglobal.com
- Phone Number
- +91 **********
- Registered Address
- D-13 MIDC IND AREAR D AGA ROAD CHINCHWAD, PUNE, Maharashtra, India, 411019
Key Metrics
Founded Year
1966
Location
Pune, India
Stage
Public
Latest Funding Round
Investors
Ranked
18th among 3641 active competitors
Annual Revenue
₹10,600Cr as on Mar 31, 2025
Employee Count
11,294 as on Apr 30, 2026
Investment & Acquisitions
Exit Details
Public
Legal entities associated with Thermax
Thermax is associated with 8 legal entities given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
THERMAX LIMITED. CIN: L29299PN1980PLC022787 , India, Active | Jun 30, 1980 | $1.26B (As on Mar 31, 2025) | 6211 (As on Aug 31, 2025) | |
THERMAX COOLING SOLUTIONS LIMITED CIN: U74909PN2009PLC134761 , India, Active | Oct 06, 2009 | $464K (As on Mar 31, 2025) | 4 (As on Mar 31, 2024) | |
THERMAX BIOENERGY SOLUTIONS PRIVATE LIMITED CIN: U40107PN2022PTC213848 , India, Active | Aug 12, 2022 | $67.6M (As on Mar 31, 2025) | 196 (As on Aug 31, 2025) | |
FIRST ENERGY 3 PRIVATE LIMITED CIN: U40100PN2022PTC211607 , India, Active | May 25, 2022 | $4.56M (As on Mar 31, 2025) | - | |
FIRST ENERGY 4 PRIVATE LIMITED CIN: U40100PN2022PTC216736 , India, Active | Dec 07, 2022 | $3.15M (As on Mar 31, 2025) | - | |
THERMAX EUROPE LIMITED CIN: 3183441 , United Kingdom, Active | Apr 08, 1996 | $4.84M (As on Mar 31, 2025) | 7 (As on Mar 31, 2025) | |
THERMAX DENMARK ApS CIN: 33255748 , Denmark, Active | Oct 28, 2010 | - | - | |
THERMAX ONSITE ENERGY SOLUTIONS LIMITED CIN: U40109PN2009PLC134659 , India, Active | Sep 14, 2009 | $66.5M (As on Mar 31, 2025) | 148 (As on Aug 31, 2025) |
Thermax's IPO details
Thermax got listed on Aug 30, 1995.
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Thermax's funding and investors
Thermax has raised funding over 1 round. Its latest funding round was a Post IPO round on 2008 for $*****. 1 investor participated in its latest round. Thermax has 3 institutional investors.
Here is the list of recent funding rounds of Thermax:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
2008 | 1532 | Post IPO | 5912 | 3258 | 6753 | 3158 |
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Thermax's founders and board of directors
Founder? Claim ProfileThermax's Board of Directors
Thermax's board has 12 active members. Meher Pudumjee and Ashish Bhandari are part of team and Harsh Charandas Mariwala, Rajani Kesari, Shyamak Ramyar Tata, Ashish Madhusudan Vaishnav, Shashishekhar Pandit Balkrishna, Ravi Shankar Gopinath, Parag Chandulal Shah, Pheroz Pudumjee, Venkatesh Balasubramaniam and Sandeep Suresh Mandke are independent board members.Here is the list of Thermax's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
ynbjyty | Team | - | Past | 5y 8m |
wvcu{bq | Team | - | Current | 7y 2m |
Independent board member | - | Current | 13y 5m | |
nxgcsai | Independent board member | - | Current | 1y 1m |
ipocv{m | Independent board member | - | Current | 3y 3m |
lgbykrl | Independent board member | - | Current | 6y 6m |
rafdppp | Independent board member | - | Current | 7y 1m |
yjbbjad | Independent board member | - | Current | 8y 2m |
iqajenk | Independent board member | - | Past | 2y 3m |
zwliohj | Independent board member | - | Past | 4y 7m |
ddjibun | Independent board member | - | Past | 7y 7m |
gldmjhh | Independent board member | - | Past | 8y 7m |
qly{buc | Independent board member | - | Past | 7y 5m |
eruxadn | Independent board member | - | Past | 3y 2m |
yrckjbe | Independent board member | - | Past | 7y 6m |
tbmortf | Independent board member | - | Past | 8y 5m |
nyybezs | Independent board member | - | Past | 8y 4m |
lrpobby | Independent board member | - | Past | 3y 6m |
ltuyhok | Independent board member | - | Past | 2y 1m |
xpwbjrj | Independent board member | - | Past | 4y 8m |
ohvamdi | Independent board member | - | Past | 4y 4m |
Thermax's employee count trend
Thermax has 11,294 employees as of Apr 26. Here is Thermax's employee count trend over the years:
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Thermax's Competitors and alternates
Top competitors of Thermax include Daikin, DuPont and Mitsubishielectric. Here is the list of Top 10 competitors of Thermax, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Developer and manufacturer of heating, ventilation, air conditioning and refrigeration equipment | - | 76/100 | ||
2nd | DuPont 1802, Wilmington (United States), Public | Developer of chemical products, construction & packaging materials, and water solutions | - | 75/100 | |
3rd | Mitsubishielectric 1921, Germany, Public | Manufacturer of diverse electrical and electronic products, systems, and solutions | - | 75/100 | |
4th | - | - | 75/100 | ||
5th | Diversey 1923, Fort Mill (United States), Acquired | Provider of water treatment and hygiene solutions | $488M | 73/100 | |
6th | Provider of chemical products | - | 69/100 | ||
7th | Eastman Kodak Company 1892, Rochester (United States), Public | Manufacturer of printing solutions, films, specialty chemicals, and coating services | $508M | 69/100 | |
8th | Provider of water and waste management services | - | 68/100 | ||
9th | Clariant 1995, Muttenz (Switzerland), Public | Speciality Chemicals manufacturer | - | 67/100 | |
10th | Provider of waste management services | - | 66/100 | ||
18th | Provider of energy and environmental solutions for industrial and commercial sectors. This includes boiler and heater systems, process heating solutions, steam engineering, absorption cooling, and air pollution control technologies. The company also offers water and waste solutions, chemical services, and outsourced utility delivery services. A focus is on sustainable solutions, including solar power and green technologies, to improve resource productivity and environmental performance for clients. They provide services across the entire lifecycle, from project design and engineering to operations and maintenance. | - | 63/100 |
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Thermax's Investments and acquisitions
Thermax has made 4 investments in companies including Exposome and Infinite Uptime. Thermax has also acquired 6 companies including ExactSpace and Buildtechproducts.Here is the list of investments & acquisitions:
Filter this list
Filter this listDate of Investment/Acquisition | Type | Company Name | Founded Year | Location |
|---|---|---|---|---|
Feb 27, 2026 | Acquisition | 2018 | Bengaluru (India) | |
Oct 13, 2025 | Investments | 2020 | Mumbai (India) | |
Oct 25, 2024 | Acquisition |
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News related to Thermax
Filter this listMedia has covered Thermax for a total of 10 events in the last 1 year, 6 of them have been about company updates and 3 about partnerships.
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Thermax arm wins order worth Rs 1,600 crore for thermal power plantMoneycontrol•Mar 30, 2026•Thermax
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Thermax ready to support energy transition: Executive VPv magazine•Feb 19, 2026•HydrogenPro, Thermax
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Thermax Arm Secures Rs 580 Cr Order from Dangote Industries; Shares RiseUdaipur Kiran•Nov 28, 2025•Dangote Group, Thermax
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