Company
Overview

A. S. Bhathena Founder

The foundations of Thermax were originally laid by the late A. S. Bhathena, who started Wanson (India) in 1966. The company was renamed Thermax in 1980, after A. S. Bhathena retired, and his son-in-law, the late Rohinton D. Aga took over as Chairman & Managing Director. A. S. Bhathena began his career as a ‘worker-entrepreneur’ in 1947, with the founding of a partnership firm – National Steel, manufacturing sterilisers, autoclaves and other hospital equipment. In 1966, he founded Wanson (India) along with Rohinton, which began manufacturing small coil-type industrial boilers.

From the early years, A. S. Bhathena was a keen practitioner of ‘Management by wandering about,’ through which he kept in constant touch with his staff and workers.

A. S. Bhathena was a passionate advocate of achieving success through merit and hard work. His favourite quote was: ‘Deserve and then desire.’ He also believed in the social purpose of business, viz. that the objective of a business house is – ‘to serve the society they live in.’ He was also convinced of the need to accept diversity in people – just as you need almonds, raisins and walnuts to make a rich fruitcake, you need different types of people to make a rich organisation.

A. S. Bhathena passed away in 1991.

Rohinton D. Aga First Chairman and Managing Director

Rohinton Aga joined Wanson (India) to work with A. S. Bhathena. The company became Thermax India in 1980 following Bhathena’s retirement, and Rohinton took over as the Chairman and Managing Director.

Born in 1935, Rohinton hailed from a Parsi family in Bombay. A graduate in economics from Cambridge, he was also an alumni of the Harvard University Graduate School of Business Administration.

Rohinton was a seer, a dreamer and above all, a great doer. His leadership transformed Thermax from a small boiler company to a multi-divisional engineering force, with a focused vision to provide solutions that conserve energy and preserve the environment. He gained recognition as a visionary entrepreneur and a management thinker.

Rohinton believed that businesses need to be built on the foundations of enduring values. ‘Profit is not only a set of figures, but of values,’ he often reminded his teams.

These values help businesses fulfil their obligations to the customer. He believed that ‘Understanding the market in depth, stretching it to the fullest potential, creating new unfulfilled needs, being obsessed in the process and emerging as a leader,’ was living a mission. According to Rohinton, ‘this is the role and the heritage of a value-added society. It is exciting, rewarding and never ending.’

Rohinton Aga passed away in 1996.

Anu Aga Former Chairperson

Anu Aga served as the Chairperson and Non-Executive Director of Thermax from 1996 to 2004. Anu entered the business in 1985 in the Human Resources division, eventually becoming the division head in 1991. She retired as the company’s Chairperson in October 2004 and as a Non-Executive Director from the Board in August 2018.

Anu Aga has distinguished herself in both business and social spheres over the years. In recognition of her outstanding achievements, she was awarded the Padma Shri in 2010 and was nominated as a member of the Rajya Sabha. Anu firmly believes that a business cannot succeed in a society that fails.

She has done her BA in Economics and holds a postgraduate degree in Medical and Psychiatric Social Work from Tata Institute of Social Sciences (TISS). She was selected for the Fulbright Scholarship for social workers to study in the U.S.

Anu had been very active in various national and local associations like the Confederation of Indian Industries (CII) and was the Chairperson of CII’s western region. She has written extensively and delivered talks on corporate governance, corporate social responsibility, the role of women and education.

Anu is also the Founder and Ex-Chairperson of Thermax Foundation (TF), the CSR wing of Thermax Limited. She is also on the Board of several leading NGOs and is actively involved in both personal and professional capacity.

Meher Pudumjee Chairperson

Meher Pudumjee is the Chairperson of the Thermax Group.

She embarked on her journey with Thermax as a trainee engineer in August 1990 after completing her postgraduation in Chemical Engineering from the Imperial College of Science & Technology in London. In the early stages of her career, she achieved notable success by playing a pivotal role along with her husband, Pheroz, in the successful turnaround of Thermax’s subsidiary in the UK.

Upon returning to India in September 1996, she assumed a position on Thermax’s Board of Directors, working closely in the Finance function and then the Environment division and a joint venture in bottled water. In January 2001, she transitioned to the role of Non-Executive Director and, by 2002, became the Vice Chairperson. Her tenure in these roles was characterised by active involvement in the turnaround of Thermax’s business operations.

In October 2004, Meher assumed the role of Chairperson, propelling Thermax towards sustainable growth and responsible practices. Under her visionary leadership, the company is on a mission to establish itself as a trusted partner in energy transition.

Meher extends her influence and expertise to various national and international committees in the spheres of energy, sustainability, and industrial development. Her expansive portfolio includes roles as Director of the Akanksha Foundation, Trustee of 'Teach for India', and Independent Director on the board of Pidilite Industries, among others.

Over the years, Meher has garnered immense respect and recognition, both in India and abroad, for her contributions to the energy sector and environmental initiatives. In 2006, Meher represented India at the Asian Business Women’s Conference in Osaka. Other notable accolades include the 'Women in Business Young Achiever' award by The Financial Express in 2006 and the 'CEO of the Year' title by Business Standard in 2009. In 2008, the World Economic Forum honoured her as a 'Young Global Leader' in recognition of her professional accomplishments, commitment to society, and potential to shape the world's future.

Meher’s dedication to Thermax's vision has culminated in the company being awarded the prestigious ‘IMD Global Family Business Award’ and the ‘Golden Peacock Award for Excellence in Corporate Governance’ for the year 2023, and the 'University of Vermont Family Business Award' in the 'Multi-Generation Family Enterprise’ category in 2022. Also, the company was recognised with the coveted ‘Best Business led by a Woman’ award at the Moneycontrol Indian Family Business Awards 2022.

Pheroz Pudumjee Non-Executive, Non-Independent Director

Pheroz Pudumjee has been the Non-Executive, Non-Independent Director of the company since January 15, 2001.

He facilitates the company’s international initiatives, including the incubation and development of new businesses and relevant organisational changes. In the past, Mr. Pudumjee managed Thermax’s overseas venture in the UK.

Mr. Pudumjee was the Chairman of the Confederation of Indian Industries (CII), Pune. He was also a member of CII’s National Committee on Export and a member of the Maratha Chamber of Commerce’s International panel.

He has a Master’s in Business Administration and a Diploma in Automobile Technology from Stanford University.