Thermax Limited Incorporates Wholly Owned Subsidiary TCSPL

On May 29, 2024, Thermax Limited informed in an exchange filing about the incorporation of a new wholly-owned subsidiary, Thermax Chemical Solutions Private Limited (TCSPL).

About the Wholly Owned Subsidiary

Thermax Limited stated that Thermax Chemical Solutions Private Limited was incorporated on May 28, 2024. The company’s authorised share capital is ₹12 crore divided into 1,20,00,000 equity shares of ₹10 each. The paid-up capital will be ₹9.90 crore. Thermax Chemical Solutions Private Limited is yet to commence business operations. The shares were acquired at face value per share.

The company belongs to the manufacturing industry. Thermax Limited didn’t state the objective for the incorporation of this wholly owned subsidiary. As of FY 2023, Thermax Limited has 17 domestic and 20 overseas subsidiaries. They have 14 manufacturing units located all over the world.

Recently, in April 2024, Thermax Ltd announced the inauguration of its state-of-the-art manufacturing facility in Pune for water and wastewater treatment solutions. This marks a substantial step in line with Thermax’s more comprehensive mission of conserving resources and preserving the future. This was Thermax Ltd’s first water and wastewater equipment manufacturing facility. The company remains steadfast in its mission to provide advanced solutions to customers that enhance water quality and contribute to sustaining the blue, ensuring a healthier environment for all.

In Q4 FY 2024, Thermax Ltd’s operating revenue was 2,764 crore, which is up by 20%, compared to Q4 FY 2022-23. The company’s Profit After Tax (PAT) during the quarter ended March 2024 was 188 crore, which grew by 20%, compared to the same period in FY 2023.

In FY 2024, Thermax Ltd reported an operating revenue of 9,323 crore, which is up by 15%, compared to FY 2022-23. The company’s PAT during FY 2024 was 643 crore, which grew by 43%, compared to FY 2023.

About Thermax Limited

Thermax Limited provides comprehensive solutions to the environment, chemical and energy sectors. Its offerings include heaters, boilers, heat pumps, absorption chillers, power plants, air pollution control systems, solar equipment, water and waste recycling plants, etc.

On May 30, 2024, the share price of Thermax Ltd opened at ₹5,335.80, touching the day’s high at ₹5,510.90, as of 12:44 PM on the NSE.

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