Thirumalai Chemicals Ltd

₹ 174 -2.61%

05 Jun - close price

thirumalaichemicals.com BSE: 500412 NSE: TIRUMALCHM

About

Thirumalai Chemicals Ltd is a part of the Thirumalai Group, which has business interests in chemicals, surfactants, pigments and education. The Company’s principal activities are manufacturing and selling chemicals such as PAN, DEP etc. ^[1]^[2]

Key Points

Product Portfolio
1) Phthalic Anhydride (PA): It is crucial for producing plasticizers, pigments, dyes, and resins, especially unsaturated polyester resins used in fiberglass-reinforced plastics. Additionally, PA is used in herbicides, insecticides, fire retardants, polyester polyols, and rubber scorch inhibitors. ^[1] It is the second-largest producer of PA in India and one of the largest players globally. ^[2]

Website BSE NSE

Market Cap ₹ 2,099 Cr.
Current Price ₹ 174
High / Low ₹ 329 / 158
Stock P/E
Book Value ₹ 124
Dividend Yield 0.00 %
ROCE -0.68 %
ROE -4.68 %
Face Value ₹ 1.00

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Pros

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 9.67% over past five years.
Company has a low return on equity of 1.70% over last 3 years.
Contingent liabilities of Rs.1,234 Cr.
Earnings include an other income of Rs.29.1 Cr.
Debtor days have increased from 52.6 to 87.9 days.
Promoter holding has decreased over last 3 years: -4.94%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Chemicals & Petrochemicals Commodity Chemicals

Part of BSE Commodities BSE 1000

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	419	468	551	472	496	534	542	498	578	446	357	300	257
	391	427	532	460	480	483	498	494	526	446	360	315	256
Operating Profit	29	41	19	12	16	51	44	5	52	-0	-3	-15	1
OPM %	7%	9%	3%	2%	3%	9%	8%	1%	9%	-0%	-1%	-5%	0%
	23	8	19	4	7	4	6	5	16	7	15	7	4
Interest	12	13	13	9	9	8	8	13	16	16	20	20	21
Depreciation	8	9	9	8	8	8	8	9	8	9	9	9	8
Profit before tax	32	27	16	-1	6	38	33	-12	45	-18	-18	-36	-23
Tax %	17%	25%	19%	-133%	60%	26%	25%	-28%	17%	-24%	-24%	-24%	-53%
	27	20	13	0	2	28	25	-8	38	-14	-13	-27	-11
EPS in Rs	2.64	1.98	1.29	0.04	0.24	2.75	2.44	-0.83	3.66	-1.35	-1.12	-2.27	-0.90
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	923	777	857	1,012	994	865	857	1,438	1,847	1,987	2,152	1,360
	879	692	725	783	840	791	668	1,198	1,672	1,899	2,000	1,373
Operating Profit	44	84	133	229	155	74	190	240	176	88	152	-13
OPM %	5%	11%	15%	23%	16%	9%	22%	17%	10%	4%	7%	-1%
	16	12	8	10	14	22	9	15	44	38	31	29
Interest	33	21	15	11	11	16	19	18	34	44	44	77
Depreciation	7	11	14	10	15	21	25	32	30	34	34	33
Profit before tax	20	64	112	218	143	60	154	205	156	48	105	-95
Tax %	27%	33%	34%	34%	33%	31%	24%	26%	24%	25%	21%	-31%
	14	43	74	144	96	41	118	152	120	36	82	-65
EPS in Rs	1.39	4.17	7.24	14.06	9.38	3.99	11.49	14.88	11.67	3.55	8.03	-5.43
Dividend Payout %	29%	24%	26%	14%	21%	0%	19%	17%	13%	28%	0%	0%

Compounded Sales Growth
10 Years:	6%
5 Years:	10%
3 Years:	-10%
TTM:	-37%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-175%

Stock Price CAGR
10 Years:	20%
5 Years:	5%
3 Years:	-3%
1 Year:	-36%

Return on Equity
10 Years:	11%
5 Years:	7%
3 Years:	2%
Last Year:	-5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	12
Reserves	141	174	357	504	572	545	714	858	952	974	1,096	1,486
	83	28	0	0	50	139	125	105	332	189	525	760
	183	178	285	142	291	294	269	517	569	560	511	246
Total Liabilities	417	390	652	656	923	988	1,119	1,490	1,864	1,733	2,142	2,504
	74	79	146	147	171	329	317	416	411	408	385	366
CWIP	0	6	9	39	159	71	108	6	12	5	6	3
Investments	32	32	79	173	219	119	210	418	538	657	1,151	1,512
	310	273	417	298	374	470	483	650	903	663	601	624
Total Assets	417	390	652	656	923	988	1,119	1,490	1,864	1,733	2,142	2,504

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	106	114	97	79	161	119	181	268	17	129	105	-206
	-1	-21	-42	-35	-165	-24	-143	-217	-297	200	-482	-480
	-112	-94	-43	-34	14	47	-36	-69	166	-214	281	644
Net Cash Flow	-8	-0	12	10	9	142	2	-17	-114	115	-96	-41
Free Cash Flow	101	91	71	37	21	34	139	237	-26	113	94	-223
CFO/OP	249%	157%	100%	67%	134%	170%	116%	133%	30%	153%	83%	1,508%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	54	52	48	26	29	27	21	24	18	30	40	88
Inventory Days	34	38	83	69	95	76	77	79	83	54	42	36
Days Payable	33	92	144	43	121	126	123	147	130	117	103	63
Cash Conversion Cycle	55	-2	-13	51	3	-22	-25	-44	-28	-32	-21	61
Working Capital Days	1	6	13	36	7	-1	-18	-28	-5	-28	-1	28
ROCE %	19%	38%	44%	52%	27%	11%	22%	24%	17%	7%	11%	-1%

Insights

In beta

Mar 1976

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Product Mix - Phthalic Anhydride (PAN) Weightage
%

	xx	xx	xx	xx					xx	xx
	xx				xx	xx		xx	xx
	xxx,xxx			xx,xxx					xxx,xxx	xxx,xxx
	xx,xxx	xx,xxx				xx,xxx				xx,xxx
x,xxx							xxx,xxx			xxx,xxx
						xx
										xx,xxx
										xx,xxx

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Internal Waste Heat Recovery (Energy Self-Sufficiency)
%

Actual Production (Standalone Total)
MT

Installed Capacity - Maleic Anhydride (MAN)
TPA

Installed Capacity - Phthalic Anhydride (PAN)
TPA

Global Presence (Countries Exported to)
Count

New Capacity Addition - Fumaric Acid (Dahej Phase II)
TPA

New Capacity Addition - PAN (Dahej Phase II)
TPA

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	42.16%	42.17%	41.98%	41.95%	41.95%	41.92%	41.92%	41.89%	41.87%	36.13%	37.13%	37.13%
	1.81%	1.86%	1.88%	2.16%	2.50%	2.86%	2.77%	1.97%	1.88%	2.15%	1.97%	2.06%
	0.10%	0.16%	0.17%	0.54%	1.29%	1.30%	1.27%	1.12%	1.05%	9.32%	9.47%	9.93%
	55.93%	55.81%	55.98%	55.34%	54.25%	53.90%	54.04%	55.02%	55.20%	52.39%	51.43%	50.86%
No. of Shareholders	78,530	77,685	76,903	70,817	64,651	62,053	61,249	59,515	59,356	58,416	57,446	56,739

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	41.46%	41.45%	41.62%	41.86%	41.90%	41.98%	42.07%	41.95%	41.89%	37.13%
	5.93%	6.85%	2.32%	0.94%	0.27%	1.29%	2.14%	2.16%	1.97%	2.06%
	0.35%	0.44%	0.31%	0.12%	0.01%	0.02%	0.01%	0.54%	1.12%	9.93%
	0.00%	0.00%	0.00%	0.00%	0.70%	0.70%	0.00%	0.00%	0.00%	0.00%
	52.26%	51.25%	55.74%	57.08%	57.13%	56.01%	55.78%	55.34%	55.02%	50.86%
No. of Shareholders	18,871	29,018	47,471	51,609	53,568	81,618	80,137	70,817	59,515	56,739

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Thirumalai Chemicals Ltd

Thirumalai Chemicals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

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