Thermax Limited Executive and Leadership Team

October, 2026

Leadership Overview

Thermax Limited has 6 executives leading key functions including corporate strategy, industrial technology, financial management, digital transformation, information systems, and board governance.

Focused on sustainable energy and environmental solutions, Thermax Limited delivers advanced engineering products for heating, cooling, water management, and specialty chemicals to global industrial markets.

Leadership Roles at Thermax Limited

  • Managing Director & Chief Executive Officer - Ashish Bhandari
  • Group Chief Financial Officer - Rajendran Arunachalam
  • Chief Technology Officer, Spp - Janardhan Bornare
  • Chief Technology Officer, Digital - Dipesh Shah
  • Executive Vice President & Chief Digital & Information Officer - Amit Sethi
  • Non-Executive Director - Pheroz Pudumjee
  • Ashish Bhandari - Managing Director & Chief Executive Officer

    Ashish Bhandari, the Managing Director & Chief Executive Officer at Thermax Limited, directs the overarching corporate strategy and operational execution across all business segments. Bhandari oversees the expansion of heating, cooling, and water management portfolios to ensure alignment with global sustainability goals. By coordinating with the board and senior leadership, the Managing Director & Chief Executive Officer drives long-term value creation through innovation in industrial machinery. This leadership role involves navigating complex market dynamics in the energy sector while maintaining a focus on operational excellence. Ashish Bhandari actively monitors performance metrics to optimize resource allocation across international markets. Through rigorous oversight of large-scale projects, the Managing Director & Chief Executive Officer secures the competitive positioning of the organization. Ultimately, Bhandari fosters a culture of engineering precision and environmental responsibility, ensuring the company remains a leader in industrial infrastructure and clean energy solutions.

    Rajendran Arunachalam - Group Chief Financial Officer

    Rajendran Arunachalam, the Group Chief Financial Officer at Thermax Limited, manages the financial health and fiscal strategy of the entire organization. Arunachalam oversees capital allocation, financial reporting, and risk management frameworks to support the company's diverse portfolio of energy and environmental projects. By providing critical financial insights to the board, the Group Chief Financial Officer ensures that investment decisions align with long-term growth objectives. This role involves maintaining robust internal controls and optimizing the balance sheet to facilitate large-scale infrastructure investments. Rajendran Arunachalam directs the financial planning processes that underpin the company's global operations, including power plant commissioning and waste heat recovery systems. Through disciplined fiscal oversight, the Group Chief Financial Officer strengthens the company's market position and financial resilience. Ultimately, Arunachalam secures the necessary capital and financial stability required to execute complex industrial projects across international markets.

    Janardhan Bornare - Chief Technology Officer, Spp

    Janardhan Bornare, the Chief Technology Officer, Spp at Thermax Limited, architects the technical roadmap for specialty products and chemical solutions. Bornare manages research and development initiatives to enhance the performance of specialty chemicals used in diverse industrial applications. By collaborating with engineering teams, the Chief Technology Officer, Spp ensures that product development cycles meet stringent quality standards and environmental regulations. This role involves identifying emerging material science trends to maintain a technological edge in the global marketplace. Janardhan Bornare evaluates technical feasibility for new product launches, directly impacting the company's ability to provide efficient water and waste management solutions. Through the integration of advanced chemical engineering processes, the Chief Technology Officer, Spp optimizes production efficiency and product efficacy. Ultimately, Bornare drives innovation within the specialty products division, supporting the broader mission of delivering sustainable industrial outcomes through cutting-edge chemical technology.

    Dipesh Shah - Chief Technology Officer, Digital

    Dipesh Shah, the Chief Technology Officer, Digital at Thermax Limited, architects the digital infrastructure and software-driven solutions for industrial machinery. Shah manages the development of smart monitoring systems for boilers, power plants, and wastewater treatment facilities. By integrating IoT and data analytics, the Chief Technology Officer, Digital enhances the operational efficiency of client assets through predictive maintenance and real-time performance tracking. This role involves bridging the gap between traditional mechanical engineering and modern digital capabilities to provide comprehensive industrial solutions. Dipesh Shah leads cross-functional teams to implement scalable software platforms that support the company's digital transformation agenda. Through the deployment of advanced digital tools, the Chief Technology Officer, Digital improves service delivery and customer satisfaction across global operations. Ultimately, Shah drives the adoption of smart technologies, ensuring the company remains at the forefront of the industrial digital revolution.

    Amit Sethi - Executive Vice President & Chief Digital & Information Officer

    Amit Sethi, the Executive Vice President & Chief Digital & Information Officer at Thermax Limited, directs the enterprise-wide information technology strategy and digital ecosystem. Sethi manages the cybersecurity framework, cloud infrastructure, and data governance policies that protect the company's intellectual property and operational data. By overseeing the integration of enterprise resource planning systems, the Executive Vice President & Chief Digital & Information Officer ensures seamless communication across global business units. This role involves modernizing IT architecture to support the company's complex manufacturing and project management requirements. Amit Sethi leads initiatives to improve internal productivity through automation and advanced information systems. Through the strategic alignment of technology with business goals, the Executive Vice President & Chief Digital & Information Officer facilitates efficient project execution and data-driven decision-making. Ultimately, Sethi secures the digital foundation necessary for the company to scale its industrial and environmental operations effectively.
    Amit Sethi

    Pheroz Pudumjee - Non-Executive Director

    Pheroz Pudumjee, the Non-Executive Director at Thermax Limited, provides strategic oversight and governance to ensure the company adheres to its long-term mission. Pudumjee contributes to board-level discussions regarding corporate policy, risk management, and sustainable growth strategies. By offering independent perspectives on industrial market trends, the Non-Executive Director supports the executive team in navigating complex regulatory and economic landscapes. This role involves monitoring the company's performance against established benchmarks and ensuring alignment with shareholder interests. Pheroz Pudumjee participates in critical decision-making processes that shape the future of the company's heating, cooling, and environmental business segments. Through the application of extensive industry knowledge, the Non-Executive Director strengthens the governance framework and promotes ethical business practices. Ultimately, Pudumjee provides the necessary guidance to maintain the company's reputation as a leader in sustainable industrial solutions while fostering long-term stability and growth.

    Explore Leadership Teams in Industrial Machinery & Equipment

    Frequently Asked Questions Regarding Thermax Limited Top Executives and Leadership Team

    Who leads Thermax Limited?
    Thermax Limited is led by Ashish Bhandari (Managing Director & Chief Executive Officer), along with executives such as Rajendran Arunachalam (Group Chief Financial Officer) and Janardhan Bornare (Chief Technology Officer, Spp).
    Who is part of Thermax Limited’s executive team?
    The executive team of Thermax Limited includes leaders such as Ashish Bhandari (Managing Director & Chief Executive Officer), Rajendran Arunachalam (Group Chief Financial Officer), Janardhan Bornare (Chief Technology Officer, Spp) and other senior executives.
    How many executives does Thermax Limited have?
    Thermax Limited has 6 executives leading key business areas.
    What roles are included in Thermax Limited’s leadership team?
    The leadership team of Thermax Limited includes roles such as Managing Director & Chief Executive Officer, Group Chief Financial Officer, Chief Technology Officer, Spp, Chief Technology Officer, Digital, Executive Vice President & Chief Digital & Information Officer.