A nu Aga is an Indian billionaire businesswoman and social worker who led the energy and environmental engineering company Thermax for many years. She took over as chairwoman of the company in 1996 following the sudden death of her husband, Rohinton Aga. Her tenure began under tragic and challenging circumstances, as she had also lost her son just a year earlier. Despite these personal hardships, she steered the company through a difficult period and led its successful turnaround.
Under her leadership, Thermax streamlined its operations, shed unprofitable ventures, and focused on its core business of providing energy and environmental solutions. She retired as chairwoman in 2004, handing over the reins to her daughter, Meher Pudumjee. Since her retirement, Anu Aga has dedicated her life to social work and philanthropy, with a strong focus on education. She was nominated to the Rajya Sabha, the upper house of the Indian Parliament, in 2012 in recognition of her contributions to social work.
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Born in Mumbai in 1942, Anu Aga is one of India's most respected self-made leaders, known for her transformative leadership of the engineering giant Thermax and her deep commitment to social reform. Her early life was defined by social science and humanitarian pursuits: she earned a B.A. in Economics from St. Xavier's College, Mumbai, and pursued post-graduate studies in medical and psychiatric social work at the Tata Institute of Social Sciences (TISS).
Aga herself did not join the family business immediately. She became involved with Thermax, a company started by her father and grown by her husband, Rohinton, only in 1985 when she was appointed head of Human Resources. This background in social work, rather than engineering or finance, uniquely equipped her to focus on corporate culture, team-building, and social responsibility, providing the humanist foundation for her future tenure as Chairperson.
Anu Aga’s executive career was launched by tragedy. In 1996, following the sudden death of her husband, Rohinton, she was appointed the Chairperson of Thermax Ltd. Her initial years were a period of intense crisis, where she had to navigate succession while modernizing a major industrial firm. Her key strategy was a radical commitment to professionalization: she famously made the decision to remove all family members from executive positions and instead place them on the board, recruiting top professional talent with the help of consultants like Boston Consulting Group.
During her eight-year tenure as chairperson (1996–2004), she institutionalized a no-corruption policy as a core part of Thermax's corporate culture, allowing the company to successfully compete on merit in a difficult market. She successfully steered the company through a challenging period, strengthening its business in energy and environmental engineering. Since stepping down in 2004, she has remained the steward of the company's social conscience, serving as the Chairperson of the Thermax Foundation, transitioning her focus entirely to high-impact educational philanthropy.
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Born in Mumbai.
Joins the family business, Thermax, as Head of Human Resources.
Becomes Chairperson of Thermax Ltd. following the death of her husband.
Executes major professionalization and implements a no-corruption policy.
Steps down as Chairperson(of the operating company, Thermax Ltd.); continues as Chairperson of the Thermax Foundation.
Commits 30% of Thermax's dividend income to philanthropy.
Serves on the boards of Akanksha and Teach for India.
Anu Aga's wealth is rooted in her family's majority stake in the publicly listed engineering giant, Thermax Ltd. (NSE: THERMAX), and her continuous influence on its ethical governance.
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Anu Aga is a dedicated and highly effective philanthropist, focusing intensely on primary education for the underprivileged—a passion rooted in her training as a social worker. Her giving is active, strategic, and often involves partnerships with social reform movements.
Anu Aga maintains the dignified, intellectual, and understated style of a powerful Indian matriarch and corporate reformer. Her attire is consistently modest and traditional—favoring elegant saris and high-quality Indian ethnic wear, suitable for both the boardroom and public service engagements. Her aesthetic is one of sobriety and inner strength, reflecting her background in social work and her crisis-leadership role.
Her lifestyle is secure and influential, centered in Pune. Her luxury is the autonomy to direct massive financial resources toward social upliftment. Her personal commitment to education and ethical governance is the defining feature of her life, making her a figure of immense moral and business authority in India.
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“[As a leader], you don't have to know everything. In fact, one of the beliefs I have is [that] skills can be hired.”
“The key to success was my willingness to ask for help.”
“If we focus on primary education, we can truly change the trajectory of our country.”
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+0.4% | +$89.27M
+0.83% | +$30.82M
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