Thermax Limited , a leading energy and environment solutions provider, has announced optimistic projections for its second quarter performance, signaling strong growth across its business segments.

Chemical Business Margin Growth

Company officials have projected a margin growth of 12-13% for Thermax's chemicals business in Q2. This forecast suggests a robust performance in the company's chemical segment, which could contribute significantly to overall profitability.

Double-Digit Growth Across Segments

The management's expectations extend beyond the chemicals business, with double-digit growth anticipated across all business segments during this period. This broad-based growth outlook indicates a positive trend across Thermax's diverse portfolio of products and services.

Management's Confidence

The projections reflect the management's confidence in Thermax's business strategy and market positioning. While specific factors driving this growth were not detailed, the company's focus on energy transition and sustainability solutions may be contributing to its positive outlook.

Recent Corporate Developments

In addition to the growth projections, Thermax has recently made several significant corporate announcements:

• Reappointment of Managing Director and CEO: The shareholders have approved the reappointment of Mr. Ashish Bhandari as the Managing Director and CEO for a five-year term from September 1, 2025, to August 31, 2030. This decision ensures continuity in leadership during a period of anticipated growth.

• New Auditor Appointments: The company has appointed M/s. Price Waterhouse Chartered Accountants LLP as the Statutory Auditors for a five-year term. Additionally, M/s. Makarand M. Joshi & Co. has been appointed as the Secretarial Auditors for five years starting from FY 2025-26.

• Dividend Declaration: Thermax has declared a dividend of Rs. 14.00 (700%) per equity share of face value Rs. 2.00 for the financial year ended March 31, 2025, subject to shareholder approval.

These corporate actions, coupled with the positive growth outlook, suggest that Thermax is positioning itself for sustained performance and governance enhancements in the coming years.

As Thermax continues to navigate the evolving energy and environmental solutions landscape, investors and industry observers will be keenly watching to see if the company can deliver on its projected growth targets in the upcoming quarter.

Thermax Limited , a leading energy and environment solutions provider, has announced that its shareholders have approved the re-appointment of Ashish Bhandari as Managing Director, CEO, and Key Managerial Personnel for a five-year term. The decision was made at the company's 44th Annual General Meeting held on July 31, 2025.

Extended Leadership

Bhandari's new term will commence on September 1, 2025, and continue until August 31, 2030. This re-appointment underscores the company's confidence in Bhandari's leadership and vision for Thermax's future.

Track Record of Innovation and Growth

Since taking the helm of Thermax Group as MD & CEO on September 1, 2020, Bhandari has been instrumental in advancing the company's strategic direction in energy transition and sustainability. Under his leadership, Thermax has focused on:

• Driving innovation and creating long-term value
• Strengthening global customer and partner relationships
• Expanding into emerging sectors and markets
• Adapting to evolving business models and industry trends

Digital Transformation and Future Vision

Bhandari has been at the forefront of Thermax's digital transformation journey, leveraging cutting-edge technologies such as AI, IIoT, and data analytics to enhance product offerings and operational efficiency. His commitment to innovation is reshaping how Thermax delivers value to customers in an increasingly technology-driven world.

Looking ahead, Bhandari envisions that by 2030, a significant portion of Thermax's portfolio will comprise businesses that are currently in nascent stages, reflecting his commitment to fostering growth in new areas.

Extensive Experience

Prior to joining Thermax, Bhandari served as Vice President for India and South Asia regions at Baker Hughes (formerly a GE company), where he played a pivotal role in driving growth across the region. His over two decades of experience from world-leading organizations brings valuable insights to Thermax's operations.

Shareholder Approval and Compliance

The re-appointment was approved by shareholders through a special resolution at the AGM. As per regulatory requirements, Thermax Limited confirmed that Bhandari is not related to any other Director on the Board of the Company and is not debarred from holding the office of Director by any regulatory authority.

The vote results showed strong support for Bhandari's re-appointment, with 96.07% of the valid votes cast in favor of the resolution.

Thermax Limited's decision to extend Ashish Bhandari's tenure as MD & CEO signals the company's commitment to continuity in leadership and its focus on innovation and sustainable growth in the energy and environment solutions sector.