1. India Stocks

  2. •

    Process industries

  3. •

    Chemicals: specialty
Thirumalai Chemicals Limited

Thirumalai Chemicals Limited

120.21
INR
-5.47
(-4.35%)
-12.94EPS
20.11BMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
124.65
104.72
92.22
99.55
127.29
122.1
104.97
105.34
194.2
207.09
202.32
198.95
152.89
156.31
Basic EPS, GAAP
1.16
-1.34
3.14
6.9
16.65
11.09
2.26
11.49
27.47
8.77
-3.79
-4.5
-14.91
-12.94
Free Cash Flow per Basic Share
10.73
12.91
9.53
8.2
2.14
3.98
3.6
15.61
39.3
5.29
23.15
-6.43
-11.61
- -
Dividend per Share
0.29
- -
1.69
- -
2.26
2.41
2.36
- -
2.18
2.5
1.5
1
- -
- -
Book Value per Share
21.01
18.86
29.96
38.89
55.96
65.23
62.33
78.39
105.97
116.41
111.95
112.87
129.7
- -
Tangible Book Value per Share
21.01
18.86
28.22
37.14
54.2
62.36
62.29
78.37
105.96
116.39
111.93
112.86
129.68
- -
Basic Weighted Avg Shares
102
102
102
102
102
102
102
102
102
102
102
102
113
117
Sales/Revenue/Turnover
12,762
10,723
9,442
10,193
13,033
12,502
10,748
10,786
19,884
21,203
20,715
20,370
17,219
18,321
Operating Margin (%)
4.68
3.53
8.5
12.24
20.4
13.71
3.7
15.91
19.48
6.17
-0.3
-0.2
-6.21
-3.8
Depreciation Expense
230
178
251
359
306
364
441
495
566
557
632
611
884
897
Net Income, GAAP
119
-137
322
707
1,704
1,136
232
1,177
2,812
898
-388
-461
-1,679
-1,516
Effective Tax Rate (%)
20.21
- -
41.37
35.33
32.63
32.74
39.28
25.1
25.08
30.58
- -
- -
- -
- -
Profit Margin (%)
0.93
-1.28
3.41
6.93
13.08
9.08
2.16
10.91
14.14
4.24
-1.87
-2.26
-9.75
-8.28
Working Capital
330
-118
-241
421
1,937
1,314
1,981
2,721
4,758
1,870
1,050
350
-5,005
- -
LT Debt
595
388
236
117
500
784
1,840
1,582
1,373
2,142
8,938
14,746
16,454
- -
Total Equity
2,151
1,931
3,068
3,982
5,730
6,679
6,381
8,029
10,850
11,919
11,462
11,557
15,636
- -
Return on Invested Capital (%)
2.7
- -
9.1
18.88
33.22
16.93
3.36
14.22
25.87
6.19
- -
- -
- -
- -
Return on Capital (%)
9.82
- -
11.55
18.82
32.24
16.93
3.95
14.39
26.29
7.31
- -
- -
- -
- -
Return on Common Equity (%)
5.73
-6.72
12.86
20.05
35.1
18.31
3.55
16.33
29.79
7.89
-3.32
-4.01
-12.35
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
5,293
- -
LT Borrowings
- -
15,658
- -
LT Finance Leases
- -
795
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
121
121
121
Market Capitalization
28,452
19,930
20,113

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
7,968
- -
Cash, Cash Equivalents & STI
- -
702
- -
Accounts Receivable, Net
- -
1,970
- -
Inventories
- -
1,847
- -
Total Current Liabilities
- -
12,973
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
5,293
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.89%
15.46%
35.3%
Free Cash Flow
69.58%
74.77%
98.44%
Net Income, GAAP
76.68%
42.16%
264.23%
Sales/Revenue/Turnover
8.96%
14.31%
-15.47%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
5,547
5,251
4,467
5,231
20,370
2026
4,501
4,454
4,159
4,243
17,219
2027
5,467
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.5
0.48
-4.1
-1.37
-4.5
2026
-5.86
-3.07
-3.92
-2.32
-14.91
2027
-3.62
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
1
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Sanjay Sinha
Full Time Employees
792
Sector
Process industries
Industry
Chemicals: specialty
Address
Spic House Mumbai MA India 600032
IPO Date
May 10, 1995
Website
thirumalaichemicals.com
Similar Companies
Petkim Petrokimya Holding Anonim Sirketi (BIST:PETKM)
Albemarle Corporation (NYSE:ALB)
Linde plc (NASDAQ:LIN)
Gubre Fabrikalari T.A.S. (BIST:GUBRF)
IOL Chemicals & Pharmaceuticals Ltd. (NSE:IOLCP)
PI Industries Limited (NSE:PIIND)
Business
Thirumalai Chemicals Limited engages primarily in the manufacture and sale of specialty and intermediate chemicals. Its core products include phthalic anhydride, maleic anhydride, malic acid, and fumaric acid, along with food ingredients and specialty food acids. The company also produces fine chemicals and phthalate esters used as downstream derivatives. It operates through subsidiaries including TCL Intermediates Private Limited and Optimistic Organic Sdn. Bhd. in Malaysia, and TCL Specialties LLC in the USA. Founded in 1972 and headquartered in Ranipet, Tamil Nadu, India, Thirumalai Chemicals serves domestic and international markets with diverse applications in polymers, paints, coatings, cosmetics, personal care, and food industries. Recently, Thirumalai Chemicals has expanded its product portfolio by commencing commercial production of fumaric acid from a greenfield plant in Dahej, expected to add incremental quarterly revenue. The company is advancing a greenfield food ingredients and fine chemicals plant in the USA through its wholly owned subsidiary TCL Specialties LLC, with Phase I construction progressing and final pre-commissioning tests expected soon. Additionally, Thirumalai Chemicals acquired a maleic anhydride plant in Malaysia via its subsidiary, broadening its manufacturing footprint overseas. Strategic amendments to its Articles of Association were approved in 2025, and the company is actively pursuing fund raising initiatives and preferential equity issuance to support growth and expansion plans. Thirumalai Chemicals operates primarily in specialty and functional chemicals segments with key markets spanning Asia, North America, and other international regions. Its product applications cater to specialty polymers, food additives, paint and coatings, cosmetics and personal care, and industrial intermediates. The company’s strategy centers on expanding its global manufacturing presence while diversifying into related chemicals and value-added downstream derivatives to capture broader market segments and enhance revenue streams.