Thermax Annual Report

ANNUAL REPORT 2009 - 2010

29

TH

THERMAX LIMITED

2011

ANNUAL REPORT 2009 - 2010

29

TH

THERMAX LIMITED

2011
Turning a new leaf
The decisive moment when another year ends and we step into a new decade. Drawing strength from our finest hours, we imagine the contours of the emerging future. As the page turns, poised on the cusp of change, the moment is rich in possibilities and just right for new beginnings.

TWENTY-NINTH ANNUAL REPORT 2009 - 2010

THERMAX LIMITED

29

CONTENTS
Chairperson's Message Letter from the Managing Director Directors' Report Management Discussion and Analysis Corporate Governance Report CSR Report

6 8 10 21 31 48

Auditors' Report Stand-alone Financial Statements Consolidated Financial Statements Summarised Financial Statement of Subsidiaries Financials at a Glance

53 56 90 113 114

1

HIGHLIGHTS OF THE YEAR
Total income of the company stood at Rs. 3235 crore, marginally lower compared to the previous year.

Energy business of the company accounted for 76% and environment business 24% of the total income.

Profit after tax, compared to last year, was lower at Rs. 141 crore, due to a one time extraordinary expense of Rs. 115 crore (net of tax) towards a business settlement.

Completes the year with a record order book of Rs. 5381 crore.

Two joint ventures signed with global technology majors – SPX Netherlands BV and Babcock & Wilcox – position the company strongly in Indian power sector.

Begins, in partnership with the Union Government's Department of Science & Technology, a solar thermal technology demonstration project for rural electrification in Maharashtra.

Anu Aga, Director of Thermax, honoured with the Padma Shri by the President of India. The Award is in recognition of her distinguished service in the field of social work.

One of the municipal schools managed by the Thermax Social Initiative Foundation (TSIF) declared the 'National Winner' among all government... [continues]

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