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Engaged Employer
Thermax Limited
4.1
based on 3.3k Reviews
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Company Overview
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Working at Thermax Limited
Company Summary
Thermax is a leading energy and environment solutions company in India providing heating, cooling, water and waste management, chemicals and power generation, and wastewater treatment plants
Overall Rating
4.1/5
based on 3.3k reviews
5% above
industry average
Highly rated for
Job security, Company culture, Skill development
Work Policy
Work from office
69% employees reported
Monday to Saturday
40% employees reported
Flexible timing
64% employees reported
No travel
33% employees reported
View detailed work policy
Top Employees Benefits
Job/Soft skill training
238 employees reported
Health insurance
211 employees reported
Office cab/shuttle
165 employees reported
Cafeteria
70 employees reported
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About Thermax Limited
Founded in1966 (59 yrs old)
India Employee Count1k-5k
Global Employee Count5k-10k
India HeadquartersPune, Maharashtra, India
Office Locations
Websitethermaxglobal.com
Primary Industry
Other Industries
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View in video summary
Thermax, founded in 1966 and headquartered in Pune, India, is a ~ 1 billion USD company offering solutions in the energy and environment space and a trusted partner in energy transition. Serving over 90 countries, Thermax provides essential solutions to industries for clean air, clean energy, and clean water. Its offerings are categorised into Industrial Products, Industrial Infra, Green Solutions, and Chemicals segments.
Thermax’s Industrial Products segment includes heating, cooling, air pollution control, and water treatment solutions, featuring products like boilers, heaters, air pollution control and water and sewage treatment equipment and cooling machines that boost operational efficiency. The Industrial Infra segment comprises Thermax Babcock & Wilcox Energy Solutions (TBWES) for steam generation and waste heat recovery, and Projects & Energy Solutions (P&ES) that offers captive power plants, cogeneration systems and waste heat recovery plants under an engineering, procurement, and construction (EPC) model. The Green Solutions segment includes the New Energy business that provides green utility solutions through Thermax Onsite Energy Solutions Limited (TOESL), bio-CNG plant setup and operations through Thermax Bioenergy Solutions Private Limited (TBSPL) and renewable energy solutions via First Energy Private Limited (FEPL). Meanwhile, Thermax Chemical Solutions supplies industrial and commercial chemicals, including ion exchange resins, water treatment, oil field and construction chemicals such as concrete admixtures, industrial flooring, sealants, and adhesives, to name a few, to support industrial performance.
Additionally, Thermax’s operations and maintenance services are enhanced by its digital EDGE Live platform, which provides AI and IoT-driven monitoring and analytics for real-time asset optimisation.
With a network of 40+ Indian and international subsidiaries, 14 manufacturing facilities - 10 of which are in India and four overseas, 45 offices in India and overseas, and a team of over 5,000+ employees excluding contractual workforce, the company focusses on nurturing talent and promoting openness and inclusivity in the workplace.
Through the Thermax Foundation, its philanthropic arm, Thermax champions education, community upliftment, and equity. Its dedication to sustainability is deeply rooted in environmental, social, and governance (ESG) principles, with an emphasis on ethical conduct, transparency, and community support.
Thermax Limited Ratings
based on 3.3k reviews
Overall Rating
4.1/5
How AmbitionBox ratings work?
5
1.6k
4
1.1k
3
385
2
112
1
128
Category Ratings
4.3
Job security
4.1
Company culture
4.0
Skill development
3.9
Work-life balance
3.9
Work satisfaction
3.7
Salary
3.5
Promotions
Thermax Limited is rated 4.1 out of 5 stars on AmbitionBox, based on 3.3k company reviews. This rating reflects a generally positive employee experience, indicating satisfaction with the company’s work culture, benefits, and career growth opportunities. AmbitionBox gathers authentic employee reviews and ratings, making it a trusted platform for job seekers and employees in India.
Read more
Gender Based Ratings at Thermax Limited
based on 3.2k reviews
3.9
Rated by 143 Women
Rated 4.1 for Job security and 4.0 for Company culture
4.2
Rated by 3k Men
Rated 4.3 for Job security and 4.1 for Company culture
Work Policy at Thermax Limited
based on 448 reviews in last 6 months
Work from office
69%
Hybrid
26%
Permanent work from home
5%
Thermax Limited Reviews
Top mentions in Thermax Limited Reviews
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Compare Thermax Limited with Similar Companies
 |  Change Company |  Change Company |  Change Company | |
|---|---|---|---|---|
Overall Rating | 4.1/5 based on 3.3k reviews | 4.1/5 based on 1.8k reviews | 3.8/5 based on 873 reviews | 4.1/5 based on 4.7k reviews |
Highly Rated for | Job security Company culture Skill development | Job security Work-life balance Skill development | Work-life balance | Job security Work-life balance Company culture |
Critically Rated for |  No critically rated category | No critically rated category | Promotions | Promotions |
Primary Work Policy | Work from office 69% employees reported | Work from office 83% employees reported | Work from office 79% employees reported | Hybrid 66% employees reported |
Rating by Women Employees | 3.9 Good rated by 143 women | 4.2 Good rated by 216 women | 3.8 Good rated by 64 women | 4.0 Good rated by 735 women |
Rating by Men Employees | 4.2 Good rated by 3k men | 4.1 Good rated by 1.4k men | 3.9 Good rated by 767 men | 4.1 Good rated by 3.8k men |
Job security | 4.3 Good | 4.2 Good | 3.4 Average | 4.1 Good |
View more
Thermax Limited Salaries
Thermax Limited salaries have received with an average score of 3.7 out of 5 by 3.3k employees.
Shift Incharge
(301 salaries)
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₹2.9 L/yr - ₹9 L/yr
Electrical Engineer
(253 salaries)
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₹2.4 L/yr - ₹7.3 L/yr
Control Room Engineer
(187 salaries)
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₹2.5 L/yr - ₹7 L/yr
Deputy Manager
(157 salaries)
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₹7 L/yr - ₹20.1 L/yr
Project Manager
(139 salaries)
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₹5.6 L/yr - ₹18.1 L/yr
Mechanical Engineer
(139 salaries)
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₹1.8 L/yr - ₹9.5 L/yr
Senior Engineer
(137 salaries)
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₹3.9 L/yr - ₹12 L/yr
Safety Officer
(131 salaries)
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₹2.5 L/yr - ₹7.4 L/yr
Project Engineer
(119 salaries)
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₹2 L/yr - ₹9.7 L/yr
Design Engineer
(119 salaries)
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₹2.1 L/yr - ₹10.7 L/yr
Thermax Limited Interview Questions
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Sprih helps businesses measure and monitor their carbon footprint with ease
- Sprih's carbon emission audit platform helps businesses streamline their decarbonisation efforts by simplifying measurement, benchmarking, and reporting of emissions across various scopes.
- The startup's AI-driven platform identifies trends, predicts future emissions and guides organizations on improving upon areas where they lag.
- Sprih offers a software solution that measures and benchmarks key sustainability metrics and provides actionable insights to enhance the overall sustainability performance and compliance of organisations.
- It ensures the data is consistent by identifying anomalies and applying standardised methodologies on it, making it easier to report on carbon footprint accurately.
- The platform provides real-time tracking and benchmarking against industry standards and internal goals, helping businesses understand their carbon footprint at every level.
- Sprih partners with leading institutions such as IIT to tap into their sustainability research and insights, staying at the forefront of sustainability innovation while contributing to knowledge-sharing in the field.
- Sprih's subscription-based pricing model allows companies to pay for basic features like measuring and tracking emissions while providing scalable options that allow companies to expand sustainability efforts as they grow.
- The startup has over 20 customers, including Indigo Paints, Automotive Stampings and Assemblies Limited, and Thermax among others.
- Recently, the startup raised $3 million in a seed funding round led by Leo Capital. It plans to use the funding to expand its operations in India and the United States and enhance its platforms' AI capabilities.
- Sprih's platform helps businesses track and report on carbon footprint accurately, enhancing their sustainability, ethical sourcing and risk management, and avoiding losing market share and credibility.
Yourstory | 10 Feb, 2025
Thermax Q3 Results Review: Motilal Oswal Maintains 'Sell' Rating On The Stock, Lowers Target Price— Here's Why
- Motilal Oswal maintains 'Sell' with a target price of Rs 3,350 based on 42x Mar’27 EPS and with value of investments in subsidiaries.
- Thermax Ltd’s Q3 FY25 results came in below our estimates, impacted by lower than-expected revenue booking and cost overruns.
- Thermax expects a revival in inflows and execution in Q4 FY25 and expects enquiry finalization in FY26 for large sectors.
- Motilal Oswal maintains a 'Sell' rating on Thermax stock due to the Q3 results and lowers the target price.
Bloomberg Quint | 8 Feb, 2025
Thermax CEO Expects Strong Q4 On Revenue Recovery, Strong Orderbook
- Thermax CEO Ashish Bhandari expects a strong Q4 due to three reasons.
- While Thermax reported a 51% YoY drop in Q3 net profit, Bhandari mentions that it was not a structural miss.
- Bhandari cites revenue recovery, improved project mix, and increased orders as factors for the anticipated strong Q4 performance.
- Thermax shares rose 2.89% on the NSE in response to the CEO's positive outlook.
Bloomberg Quint | 8 Feb, 2025
Q3 Results Live: Investors Brace For Asian Paints, Tata Power, MobiKwik, Titan, Thermax Earnings
- Investors brace for Q3 earnings announcements of major companies including Asian Paints, Tata Power, MobiKwik, Titan, and Thermax.
- Key companies to report Q3 earnings: Asian Paints expected to have a revenue of Rs 8,903 crore, Titan with a revenue of Rs 17,476 crore, and Tata Power with a revenue of Rs 16,692 crore.
- Asian Paints estimated to have an EBITDA of Rs 1,628 crore with a margin of 18.3% and a net profit of Rs 1,144 crore.
- Titan Company estimated to have an EBITDA of Rs 1,704 crore with a margin of 9.8% and a net profit of Rs 1,097 crore.
Bloomberg Quint | 4 Feb, 2025
Asian Paints, Titan, Tata Power, Thermax Q3 Results Today — Earnings Estimates
- Asian Paints, Titan, Tata Power, and Thermax will be reporting their Q3 earnings today.
- Asian Paints is expected to have a revenue of Rs 8,903 crore, a margin of 18.3%, and a net profit of Rs 1,144 crore.
- Titan Company is estimated to post a revenue of Rs 17,476 crore, a margin of 9.8%, and a profit of Rs 1,097 crore.
- Tata Power is expected to report a revenue of Rs 16,692 crore, a margin of 18.4%, and a profit of Rs 971 crore.
Bloomberg Quint | 4 Feb, 2025
Budget 2025: Tight Fiscal Deficit, Capex Hike, Minimal Freebies On Thermax CEO's Wishlist
- Thermax CEO Ashish Bhandari expects a tight fiscal deficit, high capital expenditure, and minimal freebies in the upcoming Union Budget 2025.
- Bhandari does not expect too many big bang moves from the budget this year.
- He emphasizes the importance of keeping the fiscal deficit tight to combat inflation.
- Bhandari also highlights the need for high government capex and minimum freebies, focusing on smart expenditure and stimulating capex.
Bloomberg Quint | 29 Jan, 2025
Stock Recommendations Today: Industrials, IT, Infrastructure On Brokerages' Radar
- Jefferies remains constructive on the Indian power and defense sectors and shares its top stock picks.
- CLSA expects HCL and Infosys to improve their fiscal 2025 guidance.
- Investec expects price hikes in cement rates, and Nuvama shares its outlook on road infrastructure and projects.
- Top picks from Jefferies include Siemens, HAL, Thermax, and Larsen & Toubro.
Bloomberg Quint | 2 Jan, 2025
Capital Goods Q3 Preview- Optimistic On Robust Order Book; Apar, Thermax Gets 'Hold' Among Others: Nirmal Bang
- Power Mech, Triveni Turbine expected to deliver strong topline growth on improved execution post strong order inflows
- Nirmal Bang remains optimistic about the capital goods sector in the near-to-medium term on the back of robust capex cycle and healthy order inflows
- Apar and Thermax receive a 'Hold' rating from Nirmal Bang
Bloomberg Quint | 31 Dec, 2024
Brokerage Views: Citi On Honasa, Jefferies On Thermax, Delhivery And More
- Honasa Consumer Ltd. faced a lower circuit in early trade as its second quarter performance disappointed the street. Citi shared a note on the same.
- Jefferies cut its target price on Delhivery Ltd. as the company reported an 81% decrease in net profit.
Bloomberg Quint | 18 Nov, 2024
Jefferies Maintains 'Buy' On Thermax, Cites Robust Orderbook, Strong Green Solutions Segment
- Jefferies maintains 'buy' rating on Thermax citing robust orderbook and strong green solutions segment.
- Thermax reported a 70% year-on-year jump in order flows fueled by strong performance across industrial products and infrastructure, which together account for 87% of the company's revenue.
- Margins for industrial infrastructure stabilised, recovering to 7.5% after being impacted by cost overruns in the first quarter.
- The green solutions segment continues to bolster Thermax's positioning, with strong EBIT margins and operational efficiencies.
Bloomberg Quint | 18 Nov, 2024
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Thermax Limited Subsidiaries
Thermax Babcock Wilcox Energy Solutions
4.2
• 278 reviews
Thermax Engineering Construction Company
3.7
• 49 reviews
Thermax Instrumentation
4.1
• 36 reviews
Thermax On Site Energy Solution
4.0
• 34 reviews
First Energy
3.8
• 30 reviews
Thermodynamic Services
4.3
• 26 reviews
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Thermax Limited FAQs
When was Thermax Limited founded?
Thermax Limited was founded in 1966. The company has been operating for 59 years primarily in the Industrial Machinery sector.
Where is the Thermax Limited headquarters located?
Thermax Limited is headquartered in Pune, Maharashtra and has an office in Pune
How many employees does Thermax Limited have in India?
Thermax Limited currently has more than 3,300+ employees in India. Production, Manufacturing & Engineering department appears to have the highest employee count in Thermax Limited based on the number of reviews submitted on AmbitionBox.
Does Thermax Limited have good work-life balance?
Thermax Limited has a Work-Life Balance Rating of 3.9 out of 5 based on 3,300+ employee reviews on AmbitionBox. 81% employees rated Thermax Limited 4 or above, while 19% employees rated it 3 or below on work-life balance. This indicates that the majority of employees feel a generally balanced work-life experience, with some opportunities for improvement based on the feedback. We encourage you to read Thermax Limited work-life balance reviews for more details
Is Thermax Limited good for career growth?
Career growth at Thermax Limited is rated fairly well, with a promotions and appraisal rating of 3.5. 81% employees rated Thermax Limited 4 or above, while 19% employees rated it 3 or below on promotions/appraisal. Though the sentiment is mixed for career growth, majority employees have rated it positively. We recommend reading Thermax Limited promotions/appraisals reviews for more detailed insights.
What are the pros of working in Thermax Limited?
Working at Thermax Limited offers several advantages that make it an appealing place for employees. The company is highly rated for job security, company culture and skill development, based on 3,300+ employee reviews on AmbitionBox.
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