Thermax Releases Business Responsibility and Sustainability Report for FY 2025-26

Thermax Releases Business Responsibility and Sustainability Report for FY 2025-26​

Thermax Limited has released its comprehensive Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. The report details the company’s performance across environmental, social, and governance (ESG) parameters, providing insights into operational efficiency, employee welfare, and commitments to sustainability initiatives.

The BRSR outlines Thermax Limited’s operations and contributions to sustainable development, with the company maintaining a focus on energy transition and resource stewardship as part of its ongoing strategic efforts.

Operational Scope and Market Presence​

Thermax Limited operates across both national and international markets, supplying products and services primarily to manufacturing clients who place a high emphasis on sustainability. The company’s business activities are divided into three segments: Industrial Products Segment (67% of turnover), Industrial Infra Segment (23%), and Chemical Segment (10%).

In terms of scale, Thermax maintains 8 plants and 17 offices nationally, serving customers in 29 states across India and engaging with international markets in 90 countries.

The company's workforce totals 6,086 employees and 4,279 workers for the fiscal year 2025-26. Of the 6,086 employees, 370 are female (11% of total), while of the 4,279 workers, 69 are female (2%).

Environmental and Resource Management​

Thermax reported significant focus on resource efficiency across energy, water, and waste management. The company committed to achieving a 50% absolute reduction in carbon emissions by FY 2030, using FY 2019 as the baseline year.

Energy and Water Consumption​

Regarding energy usage, total energy consumed was recorded at 314,680 for FY 2025-26, showing a decrease from the previous financial year’s consumption of 276,827. The company reported that 50% of its energy came from renewable sources in the current fiscal year, an increase from 49% in FY 2024-25. Energy intensity per rupee of turnover was tracked at 0.0000048 for FY 2025-26.

Water management saw a total water consumption of 419,774 kilolitres for FY 2025-26, up from 393,393 in the previous financial year. Water intensity per rupee of turnover adjusted for Purchasing Power Parity (PPP) stood at 0.00013099.

Waste and Emission Controls​

The company generated a total waste of 24,718 metric tonnes in FY 2025-26, down from 17,716 MT in the previous financial year. A total of 21,953 MT were recovered through recycling or reuse across all waste categories.

Emissions monitoring showed Scope 1 and Scope 2 Emissions totaled 7,422 metric tonnes of CO 2 equivalent and 14,372 metric tonnes of CO 2 equivalent, respectively, in FY 2025-26. The company reported that multiple initiatives are underway to curb GHG emissions, including switching from LPG to Piped Natural Gas (PNG) and replacing High-Speed Diesel (HSD) with biomass fuel at the Jhagadia unit.

Social Responsibility and Employee Welfare​

The report underscores a commitment to employee well-being and human rights across all operational units. The company has implemented policies encompassing COBEC, Prevention of Sexual Harassment (POSH), and Whistleblower Policy.

Key social indicators include:

In terms of safety performance, the Lost Time Injury Frequency Rate for workers stood at 0.22 per one million-person hours worked in FY 2025-26, compared to 0.11 in FY 2024-25. The report also noted that two employees recorded injuries and 1 fatality in the current financial year, while no fatalities were recorded for workers.

Governance and Stakeholder Engagement​

The company’s commitment to ethical practices is supported by multiple internal mechanisms. Management includes a clear accountability framework where safety is highlighted as a priority during all Board meetings. The BRSR confirms that the Managing Director and Chief Executive Officer, Ashish Bhandari, is responsible for the oversight of the Business Responsibility Policy across all operational aspects.

Thermax Limited also maintains robust engagement with its stakeholders:

The company reported that 58% of its value chain partners were assessed against the Thermax Standard Sustainable Supply Chain Management (SSCM) check sheet concerning environment.

THERMAX Stock Price Movement​

Shares of Thermax Limited shed 6.27% in trading today after the stock settled at approximately ₹4610 per share. The equity was actively traded, with a total volume reaching 272,857 shares during the day's session.