Thermax Limited. - Company overview

Thermax is a listed public limited company, first registered with ROC Pune on 30 June 1980.

1980-06-30 Pune, Maharashtra Active Listed Active Compliant
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Key Metrics Public MCA facts are exact. Revenue, profit, assets, and employee figures may show as ranges until unlocked.

REVENUE
₹1000+ Cr
▲ 3.2%
FY 2026
PROFIT / LOSS
₹500–1000 Cr
▲ 14.9%
FY 2026
EBITDA
₹1000+ Cr
▲ 16.8%
FY 2026
NET WORTH
₹1000+ Cr
▲ 12.9%
FY 2026
TOTAL ASSETS
₹1000+ Cr
▲ 16.4%
FY 2026
EMPLOYEE COUNT
5,821–5,830
OPEN CHARGES
7
-
PAID-UP CAPITAL
23.83 cr
AUTHORISED CAPITAL
77.00 cr
COMPANY AGE
46 Years 4 Months
since 1980-06-30
LAST FILING WITH ROC
2025-03-31
Last AGM: 2025-07-31
ACTIVE GST
29
Updated: 2025-07-09 18:31:50
SATISFIED CHARGES
8
2,805.44 cr

Company Health Scores Scores from 0–100 based on filings, compliance signals, financials, and board history on this profile.

Health scores for Thermax covering vendor trust, statutory compliance, financial health and director risk - derived from MCA filings, GST and EPFO records, financial statements and the company's board history.

Vendor Trust Score Low risk
76/100
Overall counterparty comfort for vendors and customers.
  • Blend of compliance (38), financial health (95), director (95) and company-foundation signals.
  • Operating for 46+ years.
Compliance Score High risk
38/100
Statutory filings, status and regulatory flags.
  • Company status is Active as per MCA.
  • Last balance sheet filed for Mar 2025 - slightly behind.
Financial Health Score Low risk
95/100
Profitability, leverage and liquidity from filed statements.
  • Profitable in FY 2026.
  • Positive net worth.
Director Risk Score Low risk
95/100
Board strength, DIN status and churn.
  • 11 directors on the board.
  • No disqualified or deactivated DINs on the current board.
Scores are derived from MCA filings, financial statements and public records on this page. Higher is safer. They are indicative, not a credit rating.
360° Intelligence Report: trust score, financial health, credit risk, growth & distress signals - auto-generated from filings. View report →

About Thermax Company identity, industry, contact, and registration details from MCA and company records.

Thermax is a listed public limited company, first registered with ROC Pune on 30 June 1980. Its registered office is at D-13 Midc Ind Arear D Aga Road Chinchwad, Pune, Maharashtra. It was earlier known as Thermo - Dynamics Private Limited.

Its filings describe the main line of business as electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment, which made up 56.9% of turnover.

It has 11 directors: Meher Pheroz Pudumjee, Pheroz Pudumjee Naswanjee, Ravi Shankar Gopinath and 8 others. The longest-serving is Meher Pheroz Pudumjee, on the board since 2001; the most recent to join is Parag Chandulal Shah, appointed in December 2024. Ashish Bhandari is the managing director. 19 former directors are on record; the most recent to leave was Valentin Albrecht Herwart in July 2022. Between them, the directors also sit on the boards of 21 other companies, including Ara Trading And Investments Pvt Ltd and Ara Trusteeship Company Private Limited.

Paid-up capital stands at ₹23.83 crore out of ₹77 crore authorised. The last AGM on record was on 31 July 2025, for accounts made up to 31 March 2025. Seven charges (secured loans) are still open, with Axis Bank Limited and The Hongkong And Shanghai Banking Corporation Limited among the lenders, and eight more have been paid off. Its shares trade on BSE (500411) and NSE (THERMAX).

Machinery and Equipment ••••••••
  • Location D-13 Midc Ind Arear D Aga Road Chinchwad, Pune, Maharashtra - 411019
  • Website thermaxglobal.com
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Name History
Legal NameThermax Limited.
CIN / LLPINL29299PN1980PLC022787
Company No.022787
Stock Symbol BSE: 500411 | NSE: THERMAX
ClassificationPublic Limited Indian Non-Government Company
Incorporation Date1980-06-30
Date of AGM2025-07-31
Date of Balance Sheet2025-03-31
Listing StatusListed
ROC CodeRoc Pune
Credit RatingB- (Brickwork)
PAN
LEI Number
Active ComplianceActive Compliant

Current Directors of Thermax (11) Current board members from MCA filings, including designation and appointment details.

M
Meher Pheroz Pudumjee
Director | Since 2001-01-15 | DIN: 00019581
P
Pheroz Pudumjee Naswanjee
Director | Since 2001-01-15 | DIN: 00019602
R
Ravi Shankar Gopinath
Director | Since 2021-11-10 | DIN: 00803847
S
Shyamak Ramyar Tata
Director | Since 2023-10-17 | DIN: 07297729
R
Rajani Kesari
Director | Since 2018-11-14 | DIN: 02384170
P
Parag Chandulal Shah
Director | Since 2024-12-12 | DIN: 00374944

Financial Performance of Thermax Bands and Low / Medium / High trend shape. Exact figures unlock with your report.

Estimated bands · FY 2026
Revenue ₹1000+ Cr ▲ 3.2%
P&L ₹500–1000 Cr ▲ 14.9%
EBITDA ₹1000+ Cr ▲ 16.8%
Net worth ₹1000+ Cr ▲ 12.9%

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Charges of Thermax Open and satisfied charges registered against the company with MCA.

Others : 1,150.00 cr
Axis Bank Limited : 250.00 cr
The Hongkong And Shanghai Banking Corporation Limited : 200.00 cr
Open Charges: 7 Satisfied Charges: 8
Open -
Satisfied 2,805.44 cr
LenderAmountStatus
Axis Bank Limited
Creation Date: 11 Feb 2025
 250.00 cr Open
Others
Creation Date: 15 Nov 2021
 330.00 cr Open
Others
Creation Date: 15 Jun 2021
 520.00 cr Open

Business Activity Principal business activity and turnover mix from MCA filings.

Activity GroupDescriptionTurnover %
ManufacturingElectrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment56.9
Water supply, sewerage and waste managementWater collection, treatment and supply32.5
ManufacturingChemical and chemical products, pharmaceuticals, medicinal chemical and botanical products10.6

Companies With Common Directors Of Thermax Other companies that share directors with this entity, based on MCA and compliance network data.

Board Overlap From MCA / Compliance Filings

Ara Trading And Investments Pvt Ltd 2 Shared Directors
Ara Trusteeship Company Private Limited 2 Shared Directors
Inflexion Technologies Private Limited 2 Shared Directors
Kra Holding And Trading Pvt Ltd 2 Shared Directors
Kra Holdings Private Limited 2 Shared Directors
Lazara Capital Advisors Llp 2 Shared Directors
Lazara Capital Advisors Private Limited 2 Shared Directors
Mephezalea Asset Services Llp 2 Shared Directors
Rda Holdings Private Limited 2 Shared Directors
Winman Gas Limited 2 Shared Directors
First Energy Private Limited 1 Shared Director
Jetsynthesys Private Limited 1 Shared Director
Lazara Investment Services Llp 1 Shared Director
Neuland Laboratories Ltd. 1 Shared Director
Socomp Solutions Private Limited 1 Shared Director
Thermax Co-Gen Limited 1 Shared Director
Thermax Electronics Limited 1 Shared Director
Thermax Energy Performance Services Limited 1 Shared Director
Thermax Foundation 1 Shared Director
Voltas Limited 1 Shared Director
Weikfield Re Estates 1 Llp 1 Shared Director

Financial Ratios of Thermax Profitability, leverage, and liquidity ratios from filed statements. Exact values unlock with your report.

12 years of ratios on record

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Net profit margin Debt / Equity Current ratio ROE

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Shareholding Pattern of Thermax Ownership and contribution detail from filings. Full breakdown unlocks with your report.

10 shareholder categories on record

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Ownership mix Category breakdown Year-wise pattern Promoter holding

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Employees and EPFO Compliance at Thermax EPFO establishments, contributions, and headcount history. Full records unlock with your report.

1 establishment linked

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Monthly headcount PF contributions ECR filing status Establishment history

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GST Compliance of Thermax GST registrations and filing status by state. Full compliance detail unlocks with your report.

State-wise registrations, return filing status, HSN and SAC details, and jurisdiction records require an active report plan.

GSTIN registrations State-wise filing status HSN and SAC details Tax jurisdiction records

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Credit Ratings, Litigation & Regulatory Alerts for Thermax Ratings, court records, and regulatory alerts. Full risk detail unlocks with your report.

1 regulatory flag on record

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Rating history Court and tribunal cases Regulatory alerts Director-linked violations

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MSME Payment Delays by Thermax MSME supplier payment delays and filing history. Full amounts unlock with your report.

Amounts outstanding to micro and small suppliers, delay reasons, and MSME-1 filing history require an active report plan.

Outstanding amounts Delay periods and reasons MSME-1 filing history Vendor payment signals

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Subsidiaries & Group Companies of Thermax Parent, subsidiary, and related group entities. Full ownership map unlocks with your report.

6 subsidiaries on record

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Parent company Subsidiaries and ownership Associates and joint ventures Entity investments

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MCA Filings & Documents of Thermax Official MCA forms, returns, and filing index. Document access unlocks with your report.

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Incorporation documents Annual returns and statements Charge filings Complete filing index

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Frequently Asked Questions about Thermax Common questions about this company from MCA and profile data. Some answers are limited until unlocked.
Who is the owner of Thermax?
MCA does not publish an "owner" field. Thermax is run by its directors, Meher Pheroz Pudumjee, Pheroz Pudumjee Naswanjee, Ravi Shankar Gopinath and eight others, with Ashish Bhandari as managing director. It is owned by its shareholders, and the promoter holding is in the shareholding pattern it files with the stock exchanges.
Who are the current board members and directors of Thermax?
Thermax has 11 current directors: Meher Pheroz Pudumjee (since January 2001), Pheroz Pudumjee Naswanjee (since January 2001), Ravi Shankar Gopinath (since November 2021), Shyamak Ramyar Tata (since October 2023), Rajani Kesari (since November 2018) and Parag Chandulal Shah (since December 2024), plus 5 more. Ashish Bhandari is the managing director.
What is CIN of Thermax?
The CIN of Thermax is L29299PN1980PLC022787. Reading it left to right: L means it is listed, 29299 is the industry code it registered under, 1980 is the year it was registered, PLC is the company type and 022787 is its registration number.
When was Thermax incorporated?
Thermax was incorporated on 30 June 1980 with ROC Pune. That makes it more than 46 years old.
What is the registered address of Thermax?
The registered office on MCA records is D-13 Midc Ind Arear D Aga Road Chinchwad, Pune, Maharashtra - 411019.
What is the current status of Thermax?
MCA shows Thermax as Active, and its last AGM on record was in July 2025.
What is the contact number or email for Thermax?
You can post to its registered office at D-13 Midc Ind Arear D Aga Road Chinchwad, Pune, Maharashtra - 411019 and use its website, https://thermaxglobal.com.
What industry or business activity is Thermax associated with?
Its MCA filings list the main business as electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment (56.9% of turnover).
What is paid-up capital and authorised share capital of Thermax?
Paid-up capital is ₹23.83 crore and authorised capital is ₹77 crore, so about 31% of the authorised amount has been issued.
When did Thermax last file accounts and hold an AGM?
The last AGM on record was on 31 July 2025, and the latest balance sheet is for the year ending 31 March 2025.
Where can I see charges and lenders for Thermax?
Seven charges against Thermax are still open and eight have been satisfied. Lenders named in the filings include Axis Bank Limited and The Hongkong And Shanghai Banking Corporation Limited.
Have any directors left Thermax?
Yes, 19 former directors are on record. The most recent to leave were Valentin Albrecht Herwart (July 2022), Kedar Purushottam Phadke (December 2021) and Unnikrishnan Mangalath Sukumarapanicker (August 2020).
Which companies share directors with Thermax?
21 companies share directors with Thermax. Among them are Ara Trading And Investments Pvt Ltd, Ara Trusteeship Company Private Limited, Inflexion Technologies Private Limited and 18 more.
What is the turnover or revenue of Thermax?
Based on filed financial statements, the revenue of Thermax for FY 2026 was in the ₹1000+ Cr range. That is up 3.2% on the previous year. Exact year-wise revenue, profit and balance sheet figures are on the Financial tab.
What is the net worth of Thermax?
For FY 2026, the net worth of Thermax was in the ₹1000+ Cr range.
How can I get the financial details of Thermax?
The latest accounts on record are for FY 2026. The Financial tab has year-wise profit and loss, balance sheet and ratios, with exact figures after you sign in.
What is the official website of Thermax?
The website on record for Thermax is https://thermaxglobal.com.
Which company owns thermaxglobal.com?
thermaxglobal.com is the website listed for Thermax Limited. in its company records.
Is Thermax registered with any stock exchange in India?
It is listed on both BSE (scrip code 500411) and NSE (symbol THERMAX).
Thermax - is it listed or unlisted?
Thermax is a listed company, and its CIN starts with L.
What is the ROC code of Thermax?
Thermax is registered with ROC Pune.
What is the company classification of Thermax?
MCA classifies Thermax as: Public Limited Indian Non-Government Company.
Does Thermax have subsidiaries?
Yes, 6 subsidiaries are on record for Thermax.
Does Thermax have GST registrations on file?
Yes, 29 active GST registrations are linked to Thermax, usually one per state it operates in.

Disclaimer: Data on this page is compiled from public sources as available in our system at the time of the last update and is for general information only. Scores are derived indicators, not credit ratings or advice - please verify from official sources and consult a professional before making any business or financial decision.