Thirumalai Chemicals
- Market cap
- ₹ 1,453 Cr.
- P/E
- 50x
- P/B
- 0.97x
- 52-week range
- 114.65 – 290.8
- ROE
- −12%
- ROCE
- −3%
- Dividend yield
- 0%
- Debt / equity
- 1.39
- Sector
- Chemicals & Petrochemicals
- Industry
- Commodity Chemicals
- Listed on
- NSE, BSE
About
Thirumalai Chemicals Limited is an India-based company, which is engaged in the manufacturing of phthalic anhydride, maleic anhydride, fumaric acid and fine chemicals. It operates through the manufacture and sale of organic chemicals segment. Its product, phthalic anhydride, is used in the manufacturing of unsaturated polyester resins (UPR), which are commonly used in fiberglass-reinforced plastics. Phthalic anhydride also has applications in the production of herbicides, insecticides, insect repellents, fire retardants, polyester polyols, and rubber scorch inhibitors. Its malic acid is used in the manufacture of skin and dental care products and can be used in a number of technical applications, such as electroplating and metal cleaning. The fumaric acid products are used in the manufacturing of medicines, drinks, food, animal feed, cleansing agents, unsaturated polyester, alkyd resins, and printing inks. Its diethyl phthalate (DEP) is used to make plastics more flexible.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Commodity Chemicals: 75 companies →Thirumalai Chemicals against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)50 against a typical 22.7: pricier than most peers (1st = cheapest).53rd of 72
- Sales growth+21.6% against a typical +12.7% from a year earlier.27th of 65
- Share price, 3 months−31% against a typical −2.2%.61st of 65
- Size₹ 1,452.8 Cr. market value against a typical ₹ 131.2 Cr. (1st = largest).8th of 69
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Look closer
Rated BBB by ICRA- ICRA lowered its rating on 13 Aug 2026.
- ICRA expects things to get worse (negative outlook).
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | [ICRA]BBB | Negative | 13 Aug 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 13 Aug 2026 | ▼ Downgrade1 notch | [ICRA]BBB+ → [ICRA]BBB | — | ICRA | ₹ 2,055.5 Cr. | |
| 9 Jun 2026 | Reaffirmed | [ICRA]BBB+ | — | ICRA | ₹ 1,964.55 Cr. | |
| 12 Jan 2026 | ▼ Downgrade1 notch | [ICRA]A- → [ICRA]BBB+ | — | ICRA | ₹ 1,964.55 Cr. | |
| 25 Nov 2025 | Reaffirmed | [ICRA]A- | — | ICRA | ₹ 1,964.55 Cr. | |
| 26 Aug 2025 | ▼ Downgrade | [ICRA]A- | — | ICRA | ₹ 2,110.54 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 4 Aug 2026 | Financial Results/Fund Raising | To consider and approve the financial results for the period ended Jun 30, 2026 and Fund Raising |
| 30 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 14 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 8 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 29 Oct 2025 | Fund Raising | TIRUMALCHM : 29-Oct-2025 : The Company has informed the Exchange that a Board meeting to be held on October 25, 2025 has been re-scheduled. Further, the Company has informed the Exchange that the meeting of the Board of Directors of the Company will be held on October 29, 2025, To consider Fund Raising |
| 25 Oct 2025 | Fund Raising | To consider Fund Raising |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 542 | 492 | 527 | 555 | 525 | 447 | 523 | 450 | 445 | 416 | 424 | 547 |
| Expenses | 527 | 498 | 523 | 524 | 502 | 467 | 508 | 477 | 449 | 431 | 418 | 514 |
| Operating Profit | 15 | −6 | 4 | 31 | 24 | −20 | 15 | −27 | −4 | −15 | 6 | 33 |
| OPM % | 2.9% | −1.2% | 0.7% | 6% | 4.5% | −4.5% | 2.8% | −6% | −0.8% | −3.6% | 1.4% | 6% |
| Other Income | 6 | 4 | 4 | 3 | 9 | 0 | 8 | 2 | 8 | 4 | 0 | 3 |
| Interest | 10 | 12 | 10 | 9 | 10 | 14 | 15 | 18 | 26 | 21 | 24 | 52 |
| Depreciation | 16 | 15 | 17 | 14 | 13 | 16 | 18 | 22 | 23 | 23 | 21 | 23 |
| Profit before tax | −4 | −29 | −19 | 11 | 9 | −50 | −11 | −64 | −44 | −55 | −38 | −39 |
| Tax % | 47% | −20% | 10% | 53% | 47% | −16% | 28% | −7% | −24% | −16% | −27% | 12% |
| Net Profit | −6 | −23 | −20 | 5 | 5 | −42 | −14 | −60 | −33 | −47 | −28 | −44 |
| EPS in Rs | −0.59 | −2.24 | −2 | 0.5 | 0.48 | −4.1 | −1.37 | −5.86 | −2.81 | −3.86 | −2.32 | −3.62 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 6%
- 5 Years
- 10%
- 3 Years
- −7%
- TTM
- −6%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- −29%
- 10 Years
- 15%
- 5 Years
- −2%
- 3 Years
- −9%
- TTM
- —
- 10 Years
- 7%
- 5 Years
- 2%
- 3 Years
- −7%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Thirumalai Chemicals | ₹ 117.00 | ₹ 1,453 Cr. | 50x | 1x | −12% | — |
| Asian Paints | ₹ 2,305.00 | ₹ 2,21,095 Cr. | 58.1x | 12.1x | 21.2% | 12.4% |
| Solar Industries India | ₹ 18,320.00 | ₹ 1,65,778 Cr. | 99.6x | 26.6x | 31.4% | 17.7% |
| Pidilite Industries | ₹ 1,514.00 | ₹ 1,54,107 Cr. | 64.8x | 14.7x | 23.8% | 16.9% |
| SRF | ₹ 2,309.00 | ₹ 68,444 Cr. | 44.6x | 6.1x | 13.8% | 11.6% |
| Linde India | ₹ 5,697.00 | ₹ 48,586 Cr. | 110.5x | 14.2x | 13.6% | 21.7% |
Management
- R. Parthasarathy
- Chairman of the Board, Managing Director
- Sanjay Sinha
- Chief Executive Officer
- Ramya Bharathram
- Chief Financial Officer, Managing Director, Whole-Time Director
- Aditya Sharma
- Compliance Officer, Company Secretary
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