Business management

Table of Contents
EXECUTIVE SUMMARY.......................................................................................................................2
ABOUT COMPANY.................................................................................................................................2
CURRENT OPERATION OF THE ORGANIZATION........................................................................2
“BUSINESS SEGMENTS OF THE COMPANY”..................................................................................2
Energy segment.......................................................................................................................................3
PARTNERS, THEIR CONTRIBUTION AND RELATIONSHIP........................................................4
OPPORTUNITIES AND THREATS.......................................................................................................5
Opportunities..........................................................................................................................................5
Threats.....................................................................................................................................................6
TECHNOLOGIES....................................................................................................................................6
1. The Industrial Internet of Things.........................................................................................................7
2. “Big Data Analytics”.............................................................................................................................8
3. Artificial Intelligence and Machine Learning........................................................................................8
4. 3-D Printing..........................................................................................................................................8
5. Virtual Reality......................................................................................................................................8
SELECTING A TECHNOLOGY AND CHANGING OF AN EXISTING OPERATION..................9
Impact on Three Stakeholders.................................................................................................................9
Associated Risks.......................................................................................................................................9
PROPOSED AND RECOMMENDATIONS.........................................................................................10
CONCLUSION........................................................................................................................................10
REFERENCES........................................................................................................................................11

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EXECUTIVE SUMMARY
We selected Thermax Company. Basic and custom items, big non-standard product EPC
projects, O&M are the products of the company. In 2019-20 company reservations was 1470
Crore. To achieve sustainability, Thermax recognizes the need for collaboration among
providers, employees, and channel partners. We have incorporated sustainability into our
strategies, processes, business ethics, and corporate governance framework. The manufacturing
industry is currently being impacted by five technologies that are having a positive impact on the
industry. Including IoT, Big data analytics, Artificial Intelligence, 3-D painting, and Virtual
reality. There are some opportunities and threats for the company in the market which are
discussed in concerned section.

ABOUT COMPANY
. Energy, environment, and chemicals are business segments. Products are classified as follows:

 Basic and custom items

 Big non-standard product EPC projects
 The project is covered (O&M)

CURRENT OPERATION OF THE ORGANIZATION

Thermax's total revenue fell from Rs 6,123 crore to Rs 5,831 crore in 2018-19. The COVID-19
outbreak harmed the global and Indian economies, reducing revenue. Due to limited capacity
growth in major target-market projects, the company's international business fell by 25% last
year. In 2019-20, the group's consolidated order booking increased by Rs. 5,498. International
reservations totaled Rs. 1,470 crore in FY2019-20, down from Rs. 1,984 crore in FY2018-19.
The company is expanding globally while reorganizing its global business. Boiler & Heater was
acquired by TBWES as a result of a sales offset. Efforts began on October 1, 2019.

“BUSINESS SEGMENTS OF THE COMPANY”

This section contains the smart performance segment of the Group as well as the subsidiaries that
fall under this segment.

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Energy segment

In the coming years, it is expected that energy efficiency and sustainability will both improve.
Thermax's energy-efficient and environmentally friendly solutions can be of assistance. Boiler
and heater companies, as well as power companies, are included in this industry segment (EPC
and solar). Packet boilers, heat oil feeders, heat recovery boilers, and hot water generators are all
examples of steam boilers used in commercial buildings. Thermax is a manufacturer of chillers
for use in industrial cooling, air conditioning, process refrigeration, and heating systems, among
other applications. TCSL is a wholly owned subsidiary of Thermax Corporation that provides
solutions for process and manufacturing environments. TFWES, a wholly owned subsidiary of
Thermax, provides solutions for the steam generation process and electric power generation.
More than 3,300 megawatts of captive power, cogeneration, and regeneration plants have been
constructed. It is used in a variety of industries, including the automotive industry. Capital
expenditures have increased in order to keep up with the company's expanding product and
service offerings. Aside from conventional power plants, Thermax and its subsidiaries also built
biomass, industrial waste heat, and solar-powered power plants. In 2019-20, the Group's gross
operating sales will account for 80.4 percent (79.4 percent) of total sales. Profit segment income
was Rs. 249 crore (Rs. 322 crore). This year's order booking was down from last year's 4476
crore. After a promising start to the year, the pandemic had a significant impact on revenue
recognition in December. Core sector inquiries did not result in major project orders in 2018.
The segment's future remains bleak. Vision it’s all we do. "Saving resources, preserving the
future" is at the heart of our brand promise. Over the last decade, our green portfolio has grown
from 40% to 70%. Using these solutions increases resource productivity and profits while also
cleaning the environment. Thermax is ready to assist its customers and business partners in this
transition.

To achieve sustainability, Thermax recognizes the need for collaboration among providers,
employees, and channel partners. We have incorporated sustainability into our strategies,
processes, business ethics, and corporate governance framework.

Sustainability has always been important to Thermax. Offering sustainable energy and
environmental solutions relies on innovation.

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PARTNERS, THEIR CONTRIBUTION AND RELATIONSHIP

The company's partners are Pharos Pudumjee (Chairman) and Maher Pudumjee, M.S. Pharos
Pudumjee is the company's chairman. The chairman of the board of directors is Pharos
Pudumjee. Pharos Pudumjee serves as the Chairman of the Board of Directors of the
organization. There is currently only one person on the Board of Directors, M.S. Unnikrishnan,
who serves as the Executive Director. Managing Director and Chief Executive Officer of the
company for a period of three years beginning on July 1, 2017, he has been re-elected. On or
before August 1, 2017, the Board of Directors and the shareholders will determine the amount of
compensation to be paid to M.S. Unnikrishnan pursuant to the terms of a contract between the
company and M.S. Unnikrishnan, which was approved by the Board of Directors and the
shareholders on August 1, 2017. Payroll expenses such as wages, allowances, searches, and other
charges are included in the salary, which is made up of a combination of fixed and variable
components. Its purpose is to improve the overall performance of the component variable by a
certain amount. The National Research Council recommended that the compensation policy for
the appointment and remuneration of directors, which had previously been approved by the
Board, be carried out in its entirety. There are a number of variables that influence the
determination of compensation for the Executive Director and Chief Executive Officer, including
the following:

a clear understanding of compensation-performance relationship.

b. A good balance between axed and incentive pay is essential to achieve while achieving short-
or long-term performance objectives that are appropriate for a company's operations and
objectives.

c. The Managing Director and Chief Executive Officer must hold such positions in accordance
with the industry standards and current trends.

d. Individual performance with regard to key results and key performance indicators and
organizational performance with regard to the annual budget.

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OPPORTUNITIES AND THREATS

Opportunities

1. There is an increase in global energy demand, with a particular emphasis on increasing the
share of renewable energy sources in the power mix. There is also ongoing research and
development into the generation of alternative fuel sources. This is a major driving force behind
the company's expansion and development.

2. Global energy consumption is dominated by industrial production, which is expected to grow

at a rate of 1.5 percent per year by 2035, accounting for slightly more than half of total global
consumption. Consequently, solutions to reduce the carbon footprint of industrial energy
consumption, as well as the costs associated with such consumption, could be in high demand.

3. In particular, the company's energy segment, where improved energy efficiency and reduced
energy waste are expected to be the primary drivers of future business growth, is expected to
reap the greatest benefits from the trend, according to predictions. Environmental protection,
sustainability, and circular economy have been designated as mandatory focus areas for all
countries as a result of the signing of the United Nations Framework Convention on Climate
Change and the United Nations Conference on Climate Change. This is in accordance with the
United Nations Framework Convention on Climate Change and the United Nations Conference
on Climate Change, which were both held in Paris in December 2015.

4. Environment-friendly international environmental regulations that are more stringent than

those currently in effect in the United States will have a significant positive impact on the
company's environmental sector. There will be an enormous opportunity created as a result of the
revision of emission standards. It is expected that new air pollution control systems will be
required around the world as a result. In many countries, the use of air quality control equipment
has been made mandatory for employees who work in SOx-emitting industries in order to protect
them from potential health consequences. 

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5.
Following the implementation of this policy change, the company anticipates a significant increa
se in demand for its environmentally friendly products and services.

Because of rising urbanisation and consumerism, the global food processing industry is expected 
to continue to grow, which will be a driving force behind Thermax solutions.

Threats

1. According to operating environment, the pandemic situation as well as the lock-down are the
most serious company's business are threat. It is not only the pandemic that has caused supply
chain disruption, but it has also resulted in a severe labor shortage as a result of labor migration
and geographical distance standards.

2. The company's international supply chain and operational are being threatened by geopolitical
a trade war between the economies, among other factors.

3. The country is confronted with all of these potential stumbling blocks, including liquidity
constraints, loan defaults investor sentiment and consumer negative toward that are non-banking
and others.

4. A number of additional COVID-19-affected organizations have experienced a tightening of

their cash flow situation, which will have significant implications for their capital expenditure
plans.

TECHNOLOGIES
We all know that the manufacturing industry has always had an insatiable appetite for new
technologies, and this isn't surprising. A few examples of how modern technologies can provide
game-changing advantages to manufacturers include decreasing the need for human intervention,
increasing plant productivity, and creating a competitive advantage are big data analysis and
advanced robotics, to name a few.

The future of manufacturing is being shaped by a sophisticated set of technologies, including

artificial intelligence, the Internet of Things, and 3D printing, amongst others. Using these
technologies, you can reduce your manufacturing expenses while increasing your productivity

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and decreasing your error rates. In the near future, it is expected that all manufacturers will make
significant investments in these technologies, owing to the fact that productivity is critical to the
success of a manufacturing plant.

The manufacturing industry is currently being impacted by five technologies that are having a
positive impact on the industry.

The Internet of Things (IoT) is the first of these technologies to be developed and implemented.

Internet of Things website capabilities in industry and manufacturing are being implemented at a
rapid pace, allowing plant owners to increase productivity while at the same time decreasing the
complexity of their manufacturing processes. According to current projections, approximately 25
billion Internet of Things-enabled devices will be in use by 2020, according to current estimates.

For example, in order to ensure that plant operations run as smoothly as possible, regular
maintenance and repair must be performed. No requirement exists for the maintenance of all
equipment and devices to be carried out at the same time. When plant managers use IoT
technology to monitor conditions and perform predictive equipment maintenance, they can
improve their productivity and reduce their operating costs (IIoT). It is possible to concentrate
their maintenance schedules on the areas where they are most needed, reducing the likelihood of
unplanned failures and the resulting loss of productive time.

1. The Industrial Internet of Things

Manufacturing plant owners can increase productivity while reducing manufacturing process
complexity by implementing IoT capabilities. According to estimates, there will be 25 billion
IoT devices by 2020.

Industrial IoT relies on machine learning, big data, sensor data, cloud integration, and robotic
(IIoT). Reduce downtime and improve process efficiency with these technologies.

Maintaining and repairing plants, for example. But not all equipment must be maintained
simultaneously. Condition monitoring and predictive maintenance are enabled by IoT. This
reduces the likelihood of interruptions and the resulting loss of productivity.

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Devices that are networked and sensor-enabled can help with asset tracking, stock inventory
management and forecasting.

2. “Big Data Analytics”

Big data analytics can improve asset performance and production processes. According to a
Honeywell survey, US manufacturers are investing more in Big Data Analytics. These
manufacturers can reduce operating costs while increasing overall output using Big Data
Analytics.

3. Artificial Intelligence and Machine Learning

Manufacturers have long been able to boost productivity while lowering unit costs.
Manufacturers are embracing AI and machine learning. AI assists manufacturing teams with data
analysis, inventory replacement, cost reduction, and quality control.

Intelligible robots now do repetitive production tasks. Robots and humans can better collaborate
thanks to AI and machine learning. Retail-related tasks such as R&D, product line expansion,
and customer service can be managed using industrial robotics and intelligent automation.

4. 3-D Printing

Aerospace, mining, automobiles, firefighting equipment, and commercial and service machinery
all benefit from additive manufacturing. CAD (computer-aided design) files can now be used to
produce physical products.

Rubber, nylon, plastic, glass, and metal can all imprint real objects. Now, medical researchers
can print living tissue and organs in 3-D.

Because 3-D printers can print complex shapes and designs for free, designers and engineers
have more creative freedom. Produce more Production as a service allows companies to maintain
an up-to-date multi-customer infrastructure without purchasing new equipment or software.

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5. Virtual Reality

If you're designing a product, virtual reality can eliminate the need for expensive and time-
consuming prototypes. Product designers and engineers can create realistic product models that
can be scanned and analyzed before going into production by utilizing virtual reality technology
in their work. Clients can interact with digital designs, simulations, and embedded devices in
order to expedite and save time during the design and development processes. In order to save
time and money when it comes to changing design parameters such as tolerances and safety
features, automobile manufacturers are increasingly turning to virtual reality. Using virtual
reality more frequently should be encouraged by plant managers in order to improve workflow,
benchmarking processes, and regulatory compliance (VR). Incorporating cutting-edge
technologies into the manufacturing process will increase the overall productivity and profit of
the organisation. Businesses operating in a competitive market cannot afford to ignore the
positive impact that these technologies are having on their operations.

SELECTING A TECHNOLOGY AND CHANGING OF AN EXISTING OPERATION

BIG DATA ANALYTICS FOR THERMAL Innovate with big data analytics. It anticipates
customer needs. Product development proof based on customer demand, interests, or popularity.

Impact on Three Stakeholders

1. Customer-facing Team
2. Data Sciences Team
3. Executive Team

Associated Risks

Here are the five most significant risks associated with big data projects – a straightforward
checklist that should be taken into consideration when developing any strategy.

• Safety...

• Confidentiality... • Privacy...

• Costs and other fees, etc.

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• Inaccurate analyses...

• Inaccurate information...

• You can read a free sample chapter by clicking here.

PROPOSED AND RECOMMENDATIONS

Big data is becoming increasingly valuable to governments and businesses. Tourism is one. The
tourism industry can benefit from a systematic and strategic analysis of visitor data. With this
knowledge, businesses can make better and faster decisions. Despite its importance, the
Moroccan tourism industry has yet to benefit from Big Data. Providing efficient tourist
information on the territory, tourism forecasting, and personalized services to visitors has
become more difficult. This is why we propose Big Data, a new system that uses tourist data to
recommend targeted and personalized tourism offers based on user profiles. We will present an
overview of our big data management system to demonstrate its value in tourism.

In addition to tracking fraudulent transactions, financial institutions offer dynamic user

suggestions based on browsing history and other information. Platform analytics can also help
with maintenance planning. Based on early analysis, they can predict downtime and take
proactive measures. In order to improve the company's operations, these steps must be taken.

CONCLUSION
Basic and custom items, big non-standard product EPC projects, O&M are the products of the
Thermax Company. Thermax's total revenue fell from Rs 6,123 crore to Rs 5,831 crore in 2018-
19 due to pandemic. Reservations totaled Rs. 1,470 crore in FY2019-20, down from Rs. 1,984
crore in FY2018-19. Thermax is a manufacturer of chillers for use in industrial cooling, air
conditioning, process refrigeration, and heating systems, among other applications. TCSL is a
wholly owned subsidiary of Thermax Corporation that provides solutions for process and
manufacturing environments. The manufacturing industry is currently being impacted by five
technologies that are having a positive impact on the industry. The Internet of Things (IoT) is the
first of these technologies to be developed and implemented. We recommended the big data
analytics as a new technology for the company.

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REFERENCES
A Data Science Leader’s Guide to Managing Stakeholders. (2019, August 1). Retrieved from
Analytics Vidhya website: https://www.analyticsvidhya.com/blog/2019/08/data-science-
leader-guide-managing-stakeholders/
Global, T. (n.d.-a). Engineering solutions for heating, boilers, cooling, water & waste
management, specialty chemicals, air pollution control. Retrieved July 14, 2021, from
Thermaxglobal website: https://www.thermaxglobal.com/about-us/technology-partners/
Global, T. (n.d.-b). Engineering solutions for heating, boilers, cooling, water & waste
management, specialty chemicals, air pollution control. Retrieved July 14, 2021, from
Thermaxglobal website: https://www.thermaxglobal.com/shareholding-pattern/
Global, T. (n.d.-c). Engineering solutions for heating, boilers, cooling, water & waste
management, specialty chemicals, air pollution control. Retrieved from Thermaxglobal
website: https://www.thermaxglobal.com/about-us/milestones/
Jain, A. (2017, December 21). How is Big Data Streamlining Business Operations. Retrieved
July 14, 2021, from Entrepreneur website: https://www.entrepreneur.com/article/306479
Proposal of a Big data System Based on the Recommendation and Profiling Techniques for an
Intelligent Management of Moroccan Tourism. (2018). Procedia Computer Science, 134,
346–351. https://doi.org/10.1016/j.procs.2018.07.200

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