The shares of Thermax Limited were trading at ₹5690 up by ₹259.15 or 4.77 per cent on the BSE today at 10.34 am.
Energy solutions provider Thermax Limited, on October 25, announced that its acquisition of a 100 per cent stake in Buildtech Products India Private Limited for approximately ₹72 crore, subject to transaction adjustments. The deal aims to strengthen Thermax’s position in the construction chemicals sector.
Delhi-based Buildtech, established in 1995, manufactures specialized construction chemicals including admixtures, accelerators, and capsules used in tunnels, infrastructure, and railway projects. The company reported a turnover of ₹37.47 crore and a profit after tax of ₹3.74 crore for FY 2023-24.
The acquisition provides Thermax entry into niche infrastructure projects, particularly in tunneling and hydropower sectors. This strategic move comes as India’s construction chemicals market, currently valued at $3.76 billion, is projected to reach $5.17 billion by 2030.
“Buildtech’s strong reputation and innovative product portfolio, combined with Thermax’s expertise and commitment to sustainable growth, will enable us to deliver enhanced value to our customers,” said Ashish Bhandari, MD & CEO of Thermax.
- Also read: Thermax is transforming from a products to an energy transition company, says CEO Ashish Bhandari
