THERMAX EUROPE LIMITED
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Cash
£7.2M
+15.6% highest in 6 filed years
Net assets
£7.4M
+5.9% highest in 6 filed years
Employees
8
+14.3% vs 2025
Profit before tax
£554K
+264.1% highest in 6 filed years
Net assets
6-year trend · vs Industrials median
Accounts
6-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 | Δ vs prior |
|---|---|---|---|---|---|---|---|---|
| Turnover | £6,672,209 | £5,319,991 | £6,113,102 | £5,755,157 | £3,789,971 | £5,310,196 | +40.1% | |
| Operating profit | £465,346 | £12,835 | £247,439 | £209,740 | -£48,873 | £368,878 | +854.8% | |
| Profit before tax | £474,691 | £28,256 | £301,710 | £344,509 | £152,220 | £554,190 | +264.1% | |
| Net profit | £384,430 | £22,934 | £244,151 | £256,220 | £117,265 | £412,271 | +251.6% | |
| Cash | £4,168,893 | £829,193 | £2,756,389 | £5,642,586 | £6,210,331 | £7,178,389 | +15.6% | |
| Total assets less current liabilities | £6,325,614 | £6,347,915 | £6,592,660 | £6,848,634 | £6,965,131 | £7,377,108 | +5.9% | |
| Net assets | £6,323,634 | £6,346,568 | £6,590,719 | £6,846,939 | £6,964,204 | £7,376,475 | +5.9% | |
| Equity | £6,323,634 | £6,346,568 | £6,590,719 | £6,846,939 | £6,964,204 | £7,376,475 | +5.9% | |
| Average employees | 10 | 9 | 8 | 8 | 7 | 8 | +14.3% | |
| Wages | £328,397 | £268,579 | £317,718 | £319,821 | £294,055 | £337,034 | +14.6% | |
| Directors' remuneration | — | — | — | £0 | £0 | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | 7.0% | 0.2% | 4.0% | 3.6% | -1.3% | 6.9% | |
| Net margin | 5.8% | 0.4% | 4.0% | 4.5% | 3.1% | 7.8% | |
| Return on capital employed | 7.4% | 0.2% | 3.8% | 3.1% | -0.7% | 5.0% | |
| Gearing (liabilities / total assets) | — | — | — | 8.2% | 29.5% | 12.8% | |
| Current ratio | — | — | — | 12.20x | 3.39x | 7.80x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- THERMAX EUROPE LIMITED 1997-04-01 → present
- THERMAX (UK) LIMITED 1996-04-09 → 1997-04-01
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- CED Accountancy Services Ltd
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Significant events
- “The outlook for 2026-27 will be higher than present year due to presence of tenders for large heat pump projects in Europe and a possibility to enter a large Data centre project. With a new distributor in Germany, Switzerland and Austria, the focus will be on large scale projects in this region.”
- “Through 'Thermax Cares', the group companies are inculcating environmental consciousness into the organizational culture. We have undertaken various initiatives to encourage employees and their families to contribute to reducing the earth's carbon and water footprint.”
- “Stock: The Company makes a periodic estimation of any possible impairment to stock taking into account a number of factors including: its commercial value in the current market; signs of significant or irreparable damage; and any potential items considered to be worth less than cost or deemed worthless. When assessing the carrying value of the stock, these factors are taken into consideration.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 15 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CONNOLLY ACCOUNTANTS & BUSINESS ADVISORS LTD | Corporate Secretary | 2023-01-13 | — | — |
| BALASUBRAMANIAN, Venkatesh | Director | 2018-04-27 | May 1974 | Indian |
| MANDKE, Sandeep Suresh | Director | 2019-09-25 | Nov 1970 | Indian |
Show 15 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| JD SECRETARIAT LIMITED | Corporate Secretary | 1996-04-09 | 2019-10-25 |
| PRAXIS SECRETARIES (UK) LIMITED | Corporate Secretary | 2019-10-25 | 2023-01-13 |
| JOSHIPURA, Shishir | Director | 2007-01-16 | 2009-11-30 |
| KULKARNI, Prakash | Director | 2002-03-12 | 2007-01-16 |
| MAHADEVAN, Gopal | Director | 2009-07-07 | 2014-04-10 |
| MOHGAONKAR, Hemant Prabhakar | Director | 2010-06-24 | 2012-09-26 |
| MUKHOPADHYAY, Amitabha | Director | 2007-01-16 | 2007-08-10 |
| NADKARNI, Shailesh Bhalchandra | Director | 2018-04-27 | 2019-09-26 |
| NALAWADE, Abhay | Director | 1997-02-17 | 2000-07-21 |
| PUDUMJEE, Meher | Director | 1997-02-17 | 2007-01-16 |
| PUDUMJEE, Pheroz | Director | 1997-02-17 | 2007-01-16 |
| SARAWADE, Vidyadhar | Director | 1997-02-17 | 1997-07-01 |
| SHAH, Abhay Ramanlal | Director | 2014-01-30 | 2018-04-27 |
| VAISHNAV, Ashish Madhusudan | Director | 2012-12-06 | 2018-04-27 |
| JD NOMINEES LIMITED | Corporate Director | 1996-04-09 | 1997-02-17 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Pheroz Pudumjee | Individual | Shares 50–75% (as trust) | 2016-04-06 | Ceased 2019-11-12 |
| Mrs Meher Pudumjee | Individual | Shares 50–75% (as trust) | 2016-04-06 | Ceased 2019-11-12 |
| Mrs Arnavaz Rohington Aga | Individual | Shares 50–75% (as trust) | 2016-04-06 | Ceased 2019-11-12 |
Filing timeline
Last 20 of 119 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-01 | AA | accounts | Accounts with accounts type full | |
| 2026-04-21 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-26 | AA | accounts | Accounts with accounts type full | |
| 2025-04-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-06-04 | AA | accounts | Accounts with accounts type full | |
| 2024-04-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-02 | AA | accounts | Accounts with accounts type full | |
| 2023-05-16 | CH01 | officers | Change person director company with change date | |
| 2023-05-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-01-16 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2023-01-16 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-01-16 | AD01 | address | Change registered office address company with date old address new address | |
| 2022-05-27 | AA | accounts | Accounts with accounts type full | |
| 2022-05-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-05-06 | AA | accounts | Accounts with accounts type full | |
| 2021-04-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-09-15 | AD01 | address | Change registered office address company with date old address new address | |
| 2020-06-23 | CH04 | officers | Change corporate secretary company with change date | |
| 2020-05-14 | AA | accounts | Accounts with accounts type full | |
| 2020-04-27 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.