Despite challenges, over 100 units up and running, Thermax MD Ashish Bhandari tells Anil Singhvi

Thermax is focussing on business areas where cash is assured, Ashish Bhandari, Managing Director (MD) and Chief Executive Officer (CEO) at Thermax told Zee Business Managing Editor Anil Singhvi in an exclusive chat. Bhandari said that it was important to look for areas from where growth would come, whether there is Coronovirus situation or not.  

The MD further said that these were interesting times laden with challenges, especially on the health front. The company shut down its Pune plant for one week to ensure that the staff was safe. But now all the plants are up and running.  

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#NewsParViews | थर्मैक्स के नए MD & CEO आशीष भंडारी ने कहा- चुनौतीपूर्ण माहौल में भी 100 से ज्यादा यूनिट्स में काम शुरू... रिकवरी को लेकर स्थिति साफ नहीं #Thermax @AnilSinghvi_ @ThermaxGlobal pic.twitter.com/24LJh6hX9g

— Zee Business (@ZeeBusiness) September 7, 2020

Commenting on the June quarter results, the MD said that, the months of April and May were total washout and whatever business happened, it was in June month. Considering this the company did quite well, he added. Thermax posted a loss of Rs 22 cr in the Q1 FY21.  

He, however, exuded confidence saying that there was a month-on-month progress as July was better than June and August was even better. He said that September is the biggest month of the quarter and he hoped that the things will remain on the upside. 

More than 100 sites are operational now and company is doing customer support in all the places it could manage. Thermax has reached at 70-80 per cent of its pre-covid capacity and things may take some time to improve from here. Market liquidity will be a key driver on how things pan out, Bhandari said. 

It would also depend upon how food, pharma and chemicals sector do. These sectors have been doing well till now, he further said. 

Thermax is one of the leading companies in the business of heating, cooling and waste management solutions. It has 10 plants, 4 out which are overseas.

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Bhandari has been recently elevated as company MD. He joined the Thermax 5 months back as Joint MD.