Thermax Limited Executive and Leadership Team

August, 2026

Leadership Overview

Thermax Limited has 7 executives leading key functions including strategy, technology development, digital transformation, financial oversight, and corporate governance.

Focused on sustainable energy and environmental solutions, Thermax Limited delivers advanced engineering for heating, cooling, and water management 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
  • Secretary To Chief Technology Officer - Sunil Kumar
  • 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 strategic vision for the entire industrial portfolio. Overseeing global operations, the Managing Director & Chief Executive Officer ensures alignment between manufacturing capabilities and market demands for heating, cooling, and water management solutions. This leadership role involves driving expansion across international territories while maintaining operational excellence in large-scale power generation projects. By optimizing resource allocation, Ashish Bhandari directly impacts the company's ability to deliver complex turnkey power plants and waste heat recovery systems. Ultimately, the Managing Director & Chief Executive Officer secures long-term growth by fostering innovation in air pollution control and sustainable energy infrastructure. Through rigorous oversight of business units, the executive maintains a competitive edge in the industrial machinery sector, ensuring that all engineering initiatives meet stringent quality standards and environmental compliance requirements across diverse global markets.

    Rajendran Arunachalam - Group Chief Financial Officer

    Rajendran Arunachalam, the Group Chief Financial Officer at Thermax Limited, directs the financial strategy and capital allocation for the entire organization. Overseeing fiscal health, the Group Chief Financial Officer ensures that investments in power plants and environmental projects align with long-term profitability goals. This leadership role involves managing investor relations and financial reporting to maintain transparency across the industrial machinery portfolio. By optimizing the balance sheet, Rajendran Arunachalam directly impacts the company's ability to fund large-scale infrastructure projects and research initiatives. Ultimately, the Group Chief Financial Officer secures financial stability by mitigating risks associated with global market fluctuations and supply chain costs. Through rigorous financial planning, the executive supports the expansion of water and waste management services, ensuring that the company maintains a robust capital structure while pursuing sustainable growth in the competitive industrial sector.

    Janardhan Bornare - Chief Technology Officer, Spp

    Janardhan Bornare, the Chief Technology Officer, Spp at Thermax Limited, architects the technical roadmap for specialty chemicals and process products. Overseeing research and development, the Chief Technology Officer, Spp ensures the continuous evolution of chemical formulations that support industrial efficiency. This leadership role involves integrating advanced material science into the broader product portfolio to enhance performance in heating and cooling applications. By refining chemical manufacturing processes, Janardhan Bornare directly impacts the company's ability to provide high-value solutions for water and waste management. Ultimately, the Chief Technology Officer, Spp secures technical superiority by aligning product development with emerging environmental regulations and industrial needs. Through collaboration with engineering teams, the executive drives the creation of specialized chemical additives that optimize boiler performance and wastewater treatment efficacy, ensuring that the company remains at the forefront of chemical engineering innovation within the global industrial machinery landscape.

    Dipesh Shah - Chief Technology Officer, Digital

    Dipesh Shah, the Chief Technology Officer, Digital at Thermax Limited, directs the digital transformation strategy to modernize industrial operations. Overseeing the implementation of smart technologies, the Chief Technology Officer, Digital ensures that data-driven insights improve the efficiency of boilers and power plants. This leadership role involves architecting scalable digital platforms that monitor air pollution control projects and wastewater treatment systems in real-time. By leveraging advanced analytics, Dipesh Shah directly impacts the company's ability to provide predictive maintenance and remote monitoring services to industrial clients. Ultimately, the Chief Technology Officer, Digital secures operational agility by integrating digital connectivity into traditional mechanical engineering workflows. Through the deployment of IoT solutions, the executive enhances the performance of energy systems, ensuring that the company maintains a technological advantage while delivering superior value to customers through digitized, high-performance industrial machinery and environmental management solutions.

    Sunil Kumar - Secretary To Chief Technology Officer

    Sunil Kumar, the Secretary To Chief Technology Officer at Thermax Limited, coordinates the administrative and operational workflows supporting the technology leadership team. Overseeing communication channels, the Secretary To Chief Technology Officer ensures that technical projects receive the necessary resources and executive attention. This leadership role involves managing the interface between research departments and corporate strategy to facilitate seamless project execution. By streamlining internal processes, Sunil Kumar directly impacts the company's ability to maintain focus on critical innovation milestones in heating and cooling technologies. Ultimately, the Secretary To Chief Technology Officer secures organizational efficiency by managing complex schedules and cross-functional documentation. Through meticulous attention to detail, the executive supports the development of large-scale power generation and waste management projects, ensuring that technical teams remain aligned with the broader corporate mission of delivering sustainable industrial solutions across global markets.

    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 digital infrastructure and information security strategy. Overseeing the integration of IT systems, the Executive Vice President & Chief Digital & Information Officer ensures that data architecture supports the company's complex manufacturing and engineering operations. This leadership role involves implementing robust cybersecurity measures to protect intellectual property related to heating, cooling, and power generation technologies. By modernizing the digital backbone, Amit Sethi directly impacts the company's ability to scale operations and improve service delivery for industrial clients. Ultimately, the Executive Vice President & Chief Digital & Information Officer secures technological resilience by aligning IT investments with the company's growth objectives. Through the strategic deployment of enterprise software, the executive enhances operational efficiency, ensuring that the company remains a digitally-enabled leader in the global industrial machinery market.
    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 core mission. Overseeing board-level decisions, the Non-Executive Director ensures that long-term sustainability goals remain central to the business strategy. This leadership role involves evaluating the impact of industrial machinery projects on environmental standards and corporate responsibility. By offering independent guidance, Pheroz Pudumjee directly impacts the company's ability to navigate complex regulatory landscapes in the energy and water sectors. Ultimately, the Non-Executive Director secures ethical leadership by fostering a culture of accountability and transparency. Through active participation in board deliberations, the executive supports the development of innovative solutions for air pollution control and waste management, ensuring that the company maintains its reputation as a leader in sustainable industrial engineering while delivering consistent value to stakeholders.

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    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 7 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, Secretary To Chief Technology Officer.