Thermax Limited showcases its green offerings for industries during its Kolkata roadshow

"Thermax has been partnering with businesses to foster clean manufacturing, resource optimisation, and a steady transition to sustainable and reliable energy,"  Ashish Bhandari, MD and CEO of Thermax said.

He said: "By harnessing the power of coal gasification, the company is charting a path towards a cleaner, more sustainable future for the region."

Thermax is contributing to West Bengal’s rice mills through its husk-fired boilers.

Thermax officials said the company is currently executing a transformative project for the Damodar Valley Corporation power plant, employing Flue Gas Desulfurisation (FGD) technology to enhance sustainability and ensure environmental compliance.

Bhandari said with its roadshow in the city the company aims to catalyse sustainable transformations and pave the way for a greener and prosperous future.

The company's exposition in Kolkata featured a lineup of solutions and advanced technologies pivotal to making energy transition a reality for industries in the region.

The company said these included multi-fuel and biomass-based energy solutions for converting waste to energy, solar/wind-solar hybrid renewables, bio-CNG, electrical/hybrid heating & cooling solutions, green hydrogen, and energy-saving water solutions, complemented by digital and value-added services.

Thermax said it offers customers the flexibility to opt for these solutions through various models, including upfront capex investment, going via the opex route, or build-own-operate (BOO) arrangements.

Under the BOO model, Thermax said it assumes responsibility for investment, operation, and maintenance, while customers pay based on utility consumption, akin to metered billing.

Indian Government's Coal/Lignite Gasification Projects move

In January, the Cabinet chaired by Indian Prime Minister Narendra Modi approved the scheme for promotion of Coal/Lignite Gasification Projects of Government PSUs and Private Sector with an outlay of Rs.8,500 crore towards incentive for coal gasification projects under three categories.

Thermax posted growth in revenue and net profit 

Thermax recorded a consolidated operating revenue of Rs. 2,324 crore in the third quarter of FY 2023-24, 13% higher as compared to Rs. 2,049 crore in the corresponding quarter of the previous fiscal year. 

The company’s consolidated profit after tax (PAT) is Rs. 237 crore (Rs. 126 crore), an increase of 88% over Q3 FY ‘23.

The current year's profit after tax includes an exceptional gain of Rs. 126 crore from the transfer of leasehold rights of a vacant plot of land.

The profit before tax and exceptional items is Rs. 183 crore (Rs. 165 crore), up 11%. 

Thermax operates 14 manufacturing facilities across India, Europe, and Southeast Asia and has 39 Indian and international subsidiaries.