Thermax plans Rs 460-cr expansion; plans to set up three plants

摘要

Pune-based industrial energy solutions provider Thermaxis planning to invest Rs 460 crore in the next two years, as it expands it manufacturing plants. These plants will come up in India and in Indonesia, said the company. The expansion plan is part of the strategy to derisk the business and will help the company to reduce its dependency on the cyclical nature of the capital goods industry and heavy reliance on one country. The company's numbers had been under pressure as investments in the domestic market were impacted.