1. India Stocks

  2. •

    Basic Materials

  3. •

    Chemicals - Specialty
Thirumalai Chemicals Limited

Thirumalai Chemicals Limited

TIRUMALCHM.BO
Thirumalai Chemicals LimitedIN flagBombay Stock Exchange
167.60
INR
+1.95
- -
20.17BMarket Cap
Thirumalai Chemicals Limited
TIRUMALCHM.BO
(Bombay Stock Exchange)

Recent

price

167.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
74.66
102.94
133.93
124.65
104.72
92.22
99.55
127.29
122.1
104.97
105.34
194.2
207.09
202.32
200.06
- -
154.08
Revenue per Share
1.75
0.09
4.28
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
Basic EPS, GAAP
-4.99
-4.94
0.56
10.73
12.91
9.53
8.2
2.14
3.98
3.6
15.61
39.3
5.29
23.15
-6.43
- -
- -
Free Cash Flow per Basic Share
0.58
- -
0.58
0.29
- -
1.69
- -
2.26
2.41
2.36
- -
2.18
2.5
1.5
1
- -
- -
Dividend per Share
4.42
4.51
7.62
8.78
6.74
13.02
19.92
34.31
42.99
42.84
54.34
79.59
85.9
80.59
75.05
- -
1.07
Book Value per Share
12.81
15.05
19.43
21.01
18.86
28.22
37.14
54.2
62.36
62.29
78.4
105.96
116.39
111.93
112.8
- -
138.79
Tangible Book Value per Share
102
102
102
102
102
102
102
102
102
102
102
102
102
102
102
- -
113
Basic Weighted Avg Shares
7,644
10,540
13,713
12,762
10,723
9,442
10,193
13,033
12,502
10,748
10,786
19,884
21,203
20,715
20,495
17,355
17,355
Sales/Revenue/Turnover
6.73
4.92
8.28
4.68
3.53
8.5
12.24
20.4
13.71
3.7
15.91
19.48
6.17
-0.3
-0.6
-7.12
-7.36
Operating Margin (%)
154
226
229
230
178
251
358
306
364
441
495
566
557
632
611
884
884
Depreciation Expense
179
9
438
119
-137
322
707
1,704
1,136
232
1,177
2,812
898
-388
-461
-1,679
-1,679
Net Income, GAAP
29.79
54.63
32.04
20.21
- -
41.37
35.33
32.63
32.74
39.28
25.1
25.08
30.58
- -
- -
- -
- -
Effective Tax Rate (%)
2.35
0.09
3.19
0.93
-1.28
3.41
6.93
13.08
9.08
2.16
10.91
14.14
4.24
-1.87
-2.25
-9.67
-9.67
Profit Margin (%)
-841
229
533
330
-118
-241
421
1,937
1,314
1,981
2,721
4,758
1,870
1,050
350
-5,005
-5,005
Working Capital
326
1,425
1,074
595
388
236
117
500
784
1,840
1,582
1,373
2,142
8,938
14,746
16,454
16,454
LT Debt
1,311
1,541
1,990
2,151
1,931
3,068
3,982
5,730
6,678
6,381
8,029
10,850
11,919
11,462
11,557
15,636
15,636
Total Equity
10.66
7.19
17.94
10.85
- -
13.32
18.92
33.19
16.58
3.01
14.15
25.86
6.14
- -
- -
- -
- -
Return on Invested Capital (%)
6.96
0.39
13.89
13.65
- -
19.92
32.96
52.35
24.99
5.39
19.06
34.19
9.1
- -
- -
- -
- -
Return on Capital (%)
49.44
2.01
70.53
14.13
-17.27
31.79
41.91
61.39
28.7
5.27
23.66
41.02
10.6
-4.55
-5.78
-43.01
-43.01
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
4,545
- -
5,293
LT Borrowings
15,557
- -
15,658
LT Finance Leases
754
- -
795
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
119
- -
121
Market Capitalization
29,230
25,516
18,590

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
10,938
- -
7,968
Cash, Cash Equivalents & STI
3,775
- -
2,755
Accounts Receivable, Net
2,048
- -
1,970
Inventories
3,592
- -
1,847
Total Current Liabilities
9,380
- -
12,973
Payables & Accruals
- -
- -
- -
ST Debt
4,545
- -
5,293
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

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
9.04%
14.46%
-15.32%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5,227
5,420
4,919
5,149
20,715
2025
5,547
5,251
4,466
5,231
20,495
2026
4,500
4,454
4,158
4,242
17,355

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.04
-0.59
-2.24
- -
-3.79
2025
0.5
0.48
-4.1
-1.37
-4.5
2026
-5.86
-3.07
-3.92
-2.32
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.5
2025
- -
- -
- -
- -
1
2026
- -
- -
- -
- -
- -
Similar Companies
Hartalega Holdings Berhad (5168.KL)
Aarti Industries Limited (AARTIIND.NS)
T. Hasegawa Co., Ltd. (4958.T)
Fuchs Petrolub SE (FUPBY)
Guangdong Huiyun Titanium Industry Co., Ltd. (300891.SZ)
Elementis plc (ELM.L)
Business
Thirumalai Chemicals Limited manufactures and sells organic chemicals, with a primary focus on phthalic anhydride, maleic anhydride, malic acid, fumaric acid, L+ tartaric acid, phthalate esters, and fine chemicals derived from these core products; it serves industries including plastics, paints, resins, polymers, colorants, food and beverages, cosmetics, and pharmaceuticals. The company, founded in 1972 and headquartered in Mumbai, India, operates manufacturing facilities in Ranipet, Tamil Nadu, and Dahej, Gujarat, through its subsidiary TCL Intermediates Pvt Ltd, while exporting to over 60 countries across Europe, North America, the Middle East, Southeast Asia, the Far East, and Australia; it maintains marketing offices in Chennai and Delhi, India, and subsidiaries including TCL Specialties LLC in the United States, Optimistic Organic Sdn Bhd in Malaysia, and TCL Global BV in the Netherlands. Recent developments include advancing construction of a US$200 million Phase I petrochemical and fine chemicals plant by its wholly owned US subsidiary TCL Specialties LLC in New Martinsville, West Virginia, slated for commissioning in Q4 2025 with capacity for over 40,000 tons per annum of maleic anhydride from local butane and 30,000 tons of food ingredients; the company also pursues preferential equity issuance for up to INR 1 billion in funding, approved via postal ballot and board meetings in 2025, alongside amendments to its Articles of Association ratified at an extraordinary general meeting in July 2025 and ongoing CSR initiatives for 2025-26.