Social reach out:  Thermax Group, an energy and environment solutions provider is focussed on the industrial and commercial sectors, while the Pune-based company aims to have more Corporate Social Responsibility (CSR) activities, aiding social schemes envisaged by the government.  

In an exclusive interview with Republic Business, Meher Pudumjee, Chairperson, Thermax, said the company's CSR wing, has started creating links to government social security schemes, especially for the welfare of unorganised informal sectors and migrant workers. 

Clean water-related business 

Thermax has been at the forefront of water management, treatment, purification, recycling, and offering advanced solutions tailored to meet the diverse needs of industries. However, Thermax is focused only on the industrial and commercial sectors, and is therefore not associated with the ‘Har Ghar Jal’ scheme, said the company Chairperson. 

The recent acquisition of a 51 per cent stake in TSA Process Equipments by Thermax is a strategic step that further strengthens Thermax’s portfolio in water treatment. 

“This acquisition is set to enhance our capabilities in providing end-to-end solutions for highly purified water (ultra-pure water), and water for injectables, particularly catering to sectors such as pharma, biopharma, personal care, and food and beverages,” said Pudumjee.  

Thermax has introduced Mechanical Vapour Recompression (MVR) technology, an in-house zero liquid discharge (ZLD) system, which marks advancement in effluent treatment across various industries, including automobiles, breweries, distilleries, and pharmaceuticals.  

"The system is not only the most energy-efficient (equivalent to planting over 15,000 trees), but also reduces operational costs with its cutting-edge R&D, patented technology integration, and IoT-enabled operations. These initiatives are not just steps towards enhancing our product offerings, but are also aligned with our brand promise of ‘Conserving Resources, Preserving the Future,’ Pudumjee further said. 

Performance in Q3 

In its Q3 FY24 earnings, Thermax saw a substantial profit after tax (PAT), primarily driven by the sale of one of its assets, said Pudumjee. 

“We strengthened our portfolio and deepened capabilities, particularly in providing solutions for energy transition, reflecting our role as a trusted partner to our customers, in this vital global shift,” said Pudumjee, adding that the company is aiding industries in navigating the evolving energy transition landscape.

“With India's growing emphasis on renewable energy and hydrogen, greener and cleaner solutions are becoming increasingly central to our business strategy,” Pudumjee further said. 

Thermax is providing coal gasification, which can be used to manufacture value-added fuels, said the company Chairperson. 

“We aim to offer customers innovative and energy-efficient solutions, including waste-to-energy systems, waste heat recovery, biomass offerings, bio-CNG, green hydrogen initiatives, battery storage systems, solar/wind hybrid farms,” said Pudumjee. These offerings are in line with our dedication to assisting our customers in adopting sustainable energy practices, she added. 

This is apart from our ability to provide products, solutions, and services under clean air, clean water, chemicals, and power generation, said Pudumjee. 

CSR vision 

The CSR policy at Thermax remains focused on empowering and uplifting communities, with a particular emphasis on education and skill enhancement, through our NGO partners, said Pudumjee. 

Image credit: Flickr 

Elaborating on its exemplary CSR initiative, Pudumjee said, Thermax Foundation, the CSR arm of Thermax Group, is committed to facilitating quality education for children from underserved backgrounds, primarily through a PPP (Public Private Partnership) model with the municipal corporation. 

Pudumjee said Thermax will continue to focus on primary education by supporting school alumni and community youth with opportunities for higher education and vocational skill building. 

“This is particularly important for integrating them into the workforce and ensuring they have the tools and skills necessary for a successful future,” said the Thermax Chairperson.  

“Over the past two years, we have started creating links to government social security schemes, especially for those in the unorganised informal sectors and migrant workers, recognising the vulnerabilities and challenges they face,” said Pudumjee, adding that Thermax has joined hands with its long term customers on collaborative projects.  

As we look ahead, we are committed to continuing our efforts to advance these initiatives, predominantly around our factories across India, Pudmujee informed. 

Net Zero Emissions goal 

Pudumjee said in line with the government's emission reduction objective, it has set a direction for industries to pursue a clean energy transition, that optimises existing resources and creates work opportunities. 

“To this effect, industries can explore decentralised energy solutions, especially in rural areas, to promote health, education, and entrepreneurship,” said Pudumjee. 

This approach not only caters to energy needs but also drives socio-economic development. The potential of waste-to-energy initiatives, recognised by the government with financial assistance for biomass aggregation machinery, presents another opportunity for industries to turn waste materials into valuable energy resources, the Thermax Chairperson added.  

“As we gradually transition from coal-based to renewable energy, industries can contribute by innovating in making thermal power cleaner and more efficient,” said Pudumjee.  

“Additionally, the integration of biofuels into the energy mix can play an important role in reducing our emission intensity. By 2030, hydrogen could start becoming the fuel for difficult-to-abate industries, like steel, refineries, and the fertilizer sector,” Pudumjee added. 

Similarly, to make energy transition a reality at an industry level, all stakeholders will need to work together. This involves the introduction of enabling policies, financing solutions, adoption of new technologies, and ensuring the health of the power ecosystem, said the Thermax Chairperson.