Meher Pudumjee, 

Renewable energy continues to be hot, and Pudumjee’s emphasis on this sector has seen Thermax grow. Profit after tax grew by 5.7% from Rs 381 crore in FY11 to Rs 403 crore in FY12. Contribution from the energy and environment segments remained stable at 78% and 22% respectively. For the first time, actual exports crossed Rs 1,000 crore this fiscal. The company also acquired RifoxHans Richter GmbH Spezialarmaturen, a German steam efficiency enhancement products company, which will help support Thermax’s business in Europe, South East Asia, and West Asia. Thermax’s air pollution control business also commissioned its largest project for a cement plant in Egypt. The company also commissioned its first triple effect solar-based air conditioning system at the National Solar Research Centre, Gurgaon.