Thermax plans chiller facility in China

 The newly appointed managing director of the company MS Unnikrishnan said the company now has the capacity to make boilers that can be used for power plants of up to 135 megawatt capacity. The customers in this segment would be small local power plants, independent power producers or the captive power plants, he said. Unnikrishnan said the company's customers have given an encouraging response to its operations and maintenance services and the business is expected to grow significantly in the next few years.

Earlier, Pudumjee told shareholders that the company will continue its policy of shutting down overseas subsidiaries and joint ventures that are not doing well and don't hold a promise of revival. She said the company's subsidiary in Brazil is under review and a decision will be reached in course of town. The decision to shut it down - if its made - will have no impact on the company's balance sheet, she assured.

Thermax also announced its financial results for the first quarter of FY08. The company has earned an income of Rs 676.30 crore - 105% higher than the income of Rs 329.17 crore in the same quarter last year. The company's profit for the quarter was 56.91 crore, against Rs 27.54 crore, which marks a rise of 103%.