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  7. Thermax
Company logo

Thermax | Sustainability Performance

https://www.thermaxglobal.com/

Supplies energy, water, and environmental solutions to industrial and municipal clients. Provides engineering, installation, and maintenance services for systems in heating, cooling, and water treatment.

1980

India

1,001 - 5,000 employees

Machinery

$1B - 10B in revenue

$25M - 100M in profitability

Submit or report inaccurate dataDownload Company Insights

Sustainability Ranking & Industry Benchmark

#12201
Overall
#341
in India
#373
in Machinery

Sustainability Maturity

​​0123456789​​%

Sustainability Intent

Available in
Scale package

Access
​​0123456789​​%

Industry Rank

373 out of 392

Overview
Environmental
Carbon emissionsEnergy consumptionWaste ManagementWater ManagementAir & land impactNature and biodiversityClimate risk
Social
Diversity and InclusionPay GapsHealth and SafetyExternalities
Governance
TargetsSDG ImpactESG scores and Exclusions
Financial Data
Business performanceCapital & innovationAnalyst projections

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Tata Chemicals

India, Manufacturing, Chemicals

Renewable energy

28% 2024
Aligned

Waste generated

16.5K tonnes, 2024
Critical

Female employees

15% 2024
Critical

Externalities

4.0M $, 2025
Laggard

Market cap

539.1B $, 2026▼28.5% YoY

Revenue

103.9B $, 2025▼10.3% YoY

R&D intensity

0% 2025

Renewable energy

Reveal data for 1 credit
28%2024

Industry rank: 38 out of 392


Total energy consumption
and % renewables
(MWh, % of consumption)

Industry rank: 38 out of 392

Total energy

Share of renewable energy

Industry benchmark

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Renewable electricity

Reveal data for 1 credit
%2024

Industry rank: Beyond Top 100


Total electricity consumption
and % renewables
(MWh, % of consumption)

Industry rank: Beyond Top 100

Total electricity

Share of renewable electricity

Industry benchmark

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Intensity


Energy consumption (direct) intensity (MWh /$M)
Water consumption intensity (m³ /$M)
Industry Benchmark

59.3

B/M 53.2

316.8

B/M 90.5


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Female employees

Reveal data for 1 credit

Share of female employees (%)

25
50
75
100
Company
Benchmark
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Waste

Reveal data for 1 credit
16.5K2024

Total waste generated (tonnes)

Total waste
Recovered & recycled
Not-recovered & not-recycled
Industry Benchmark

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Controversy level


Very Low
Low
Noticeable
High
Severe
Download Controversy Analysis
  • Thermax Limited, Indian energy/environment engineering (boilers, water treatment, air pollution control), has faced sustained Indian Central Pollution Control Board enforcement scrutiny over alleged inadequate disclosure of boiler and waste heat recovery customer demand normalization, plus periodic Indian SEBI enforcement scrutiny affecting Indian institutional shareholders.
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Carbon emissions breakdown

Reveal data for 2 credits

KPIMetricYear
20202021202220232024Benchmark
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Climate risk

OverallAcuteChronic
Reveal data for 20 credits
Unlock Acute & Chronic
206 assets assessed
ScenarioComing soon
63High
$726.4Bestimated revenue at risk
Thematic risk scoresESRS aligned scoresComing soon
Download Climate Risk AnalysisPowered by illuminem and GIST impact

Biodiversity loss in km²

Reveal data for 2 credits

Biodiversity loss in terms of the equivalent land affected (km²e)

Total biodiversity loss (km²e)
Industry benchmark
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Biodiversity loss in CO2e

Reveal data for 2 credits

Total biodiversity loss as CO2e tonnes

Total biodiversity loss (CO2e tonnes)
Industry benchmark

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Potential species loss

Reveal data for 2 credits

Estimated nature species lost due to corporate activity, expressed as Potentially Disappeared Fraction (PDF)

One row per year, with the latest at the top. Each driver uses its own scale.

Low ImpactHigh Impact
Industry benchmark
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Biodiversity impact

Reveal data for 2 credits

KPIMetricYear
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PDF: Potentially Disappeared Fraction (of species) due to corporate activities

Waste management

Reveal data for 2 credits

KPIMetricYear
20202021202220232024Benchmark
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Water management

Reveal data for 2 credits

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Air pollution

Reveal data for 2 credits

KPIMetricYear
20202021202220232024Benchmark
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Land use

Reveal data for 2 credits

KPIMetricYear
20212022202320242025Benchmark
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Diversity & inclusion

Reveal data for 3 credits

KPIMetricYear
20202021202220232024Benchmark
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Pay gap breakdown

Reveal data for 1 credit

KPIMetricYear
20202021202220232024Benchmark
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Health & safety

Reveal data for 2 credits

KPIMetricYear
20202021202220232024Benchmark
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Externalities

Reveal data for 1 credit

KPIMetricYear
20212022202320242025Benchmark
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Market cap

539.1B $, 2026▼28.5% YoY

Revenue

103.9B $, FY2025▼10.3% YoY

EBITDA

9.9B $, FY2025▼9.1% YoY

Operating margin

8% Industry: 10▼3.3% YoY

P/E ratio

53.4 Industry: 32▲32.2% YoY

Revenue & EBITDA

$103.9BFY2025 revenue

Total Annual
Revenue & EBITDA
($ B)

Annual revenue
EBITDA
3 year change
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Margin trends


Margin as % of revenue

Gross margin
Operating margin
Net margin

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Free cashflow

1.5B 2025▼496.5% YoY

Capex

9.0B 2025▼6.5% YoY

Debt/equity ratio

0.3 Industry: 1▼NaN% YoY

R&D intensity

0.0%FY2025

R&D as % of revenue

Return on invested capital (ROIC)
Industry benchmark

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Return on invested capital

10.0%FY2026

Return on invested capital (ROIC)
Industry benchmark

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Analyst revenue estimates & actuals


Analyst consensus vs actuals
($ B)

Actual revenue
Consensus estimates
Estimate only

80.9

▼ 2.1%

2023

93.2

▼ 1.1%

2024

103.9

▼ 2.3%

2025

172.0

2030

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Environmental policy coverage

Carbon reduction policy

Available

Human rights policy

Available

Recycling policy

Available

Workplace health & safety policy

Available

39%
Independent Directors

7 out of 18 incl. management

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Overall score

86

Environment

99

Social

79

Governance

81

Exclusion screening

Adult content

Not available

Alcoholic

Not available

Animal testing

Not available

Firearms

Not available

Tobacco

Not available

Gambling

Not available

Nuclear

Not available

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SDG impact

Reveal data for 5 credits
2025

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SDG impact (historical)

Reveal data for 5 credits

KPIMetricYear
20202021202220232024Benchmark
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Reporting

sustainability report symbol

Sustainability Report

Available

Not committed to key sustainability initiatives

Sustainability employees


Total sustainability employees

11+


    Available in
    Scale package

    Access
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