Thirumalai Chemicals share price & results
- Jun 2026
- Sept 2026
Ranipet-based manufacturer of Phthalic Anhydride and food acids (Malic, Fumaric), expanding to Malaysia and the USA
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 331 | −25.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 12.0 | +12.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 14.0 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | -10.59 | −7.6 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -42.05 | −9.0 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | -5.81 | −13.7 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −59.8% 1Y
1Y: ₹288.25 on 24 Oct 2025 → ₹115.76. High ₹288.25 (24 Oct 2025), low ₹115.76 (27 Oct 2026).
- Previous close
- ₹118.37
- Market cap
- ₹1.4k Cr
- 52-week range
- ₹115.76 – ₹284.25
- One year
- −59.28%
- Return on equity (TTM to Jun 2026)
- -10.59%
Overview
- Symbol
- NSE:TIRUMALCHM
- Sector
- Chemicals
- Industry
- Commodities
- Exchange
- NSE
- Currency
- INR
What Thirumalai Chemicals Limited does
Based on the company's own presentations, annual report and earnings calls.
Thirumalai Chemicals manufactures Phthalic Anhydride (PAn), used to make plasticizers, unsaturated polyester and alkyd resins, from o-Xylene, and food-grade acids such as Malic Acid and Fumaric Acid from Maleic Anhydride, used in confectionery, beverages, bakery products, pharma APIs and animal feed. It also makes Diethyl Phthalate for fragrances and cosmetics. Manufacturing is based at Ranipet (Tamil Nadu) and Dahej (Gujarat) in India, with a Maleic Anhydride unit in Malaysia via subsidiary Optimistic Organic Sdn. Bhd. and a new integrated plant under construction in West Virginia, USA, through subsidiary TCL Specialties LLC, which began first-phase commercial operations (Maleic Anhydride sales) in December 2025. It sells domestically and exports to the Americas, Europe, Asia and the Middle East.
Segments
- Phthalic Anhydride (PAn)
- Food Ingredients — Malic Acid (MAc) & Fumaric Acid (FAc)
- Diethyl Phthalate (DEP)
- Malaysia operations (Maleic Anhydride & esters)
- USA project (Maleic Anhydride & food ingredients)
- Manufacturing locations
- 5 (Ranipet & Dahej in India; Kemaman, Malaysia; New Martinsville, West Virginia, USA; plus an EU representative office)
- Phthalic Anhydride capacity — Ranipet, India
- 165 KTPA plus 34 KTPA of derivatives/downstream products
- Phthalic Anhydride capacity — TCL Intermediates, Dahej, India
- 94 KTPA
- Fumaric Acid capacity — Dahej, India
- 10 KTPA
- Phthalic Anhydride capacity — Dahej project (TCL India)
- 24 KTPA
- Maleic Anhydride capacity — Malaysia (OOSB)
- 40 KTPA, plus 10 KTPA esters
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +200% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 542 | 498 | 578 | 446 | 357 | 300 | 257 | 331 |
| Expenses | 498 | 494 | 526 | 446 | 360 | 315 | 256 | 290 |
| Operating profit | 44 | 5 | 52 | 0 | -3 | -15 | 1 | 41 |
| Operating margin | 8.0% | 0.9% | 9.0% | −0.1% | −1.0% | −5.0% | 0.5% | 12.0% |
| Other income | 6 | 5 | 16 | 7 | 15 | 7 | 4 | 10 |
| Interest | 8 | 13 | 16 | 16 | 20 | 20 | 21 | 24 |
| Depreciation | 8 | 9 | 8 | 9 | 9 | 9 | 8 | 8 |
| Profit before tax | 33 | -12 | 45 | -18 | -18 | -36 | -23 | 19 |
| Tax rate | 25.0% | −28.0% | 17.0% | −24.0% | −24.0% | −24.0% | −53.0% | 24.0% |
| Net profit | 25 | -8 | 38 | -14 | -13 | -27 | -11 | 14 |
| EPS (₹ per share) | 2.44 | -0.83 | 3.66 | -1.35 | -1.12 | -2.27 | -0.90 | 1.18 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 2,132 | 1,987 | 2,152 | 1,360 |
| Expenses | 1,947 | 1,899 | 2,001 | 1,377 |
| Operating profit | 186 | 88 | 152 | -17 |
| Other income | 31 | 38 | 31 | 33 |
| Interest | 31 | 44 | 45 | 77 |
| Depreciation | 56 | 34 | 33 | 35 |
| Profit before tax | 129 | 48 | 104 | -95 |
| Net profit | 89 | 35 | 83 | -65 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 10 | 10 | 10 | 10 | 12 | 12 |
| Reserves | 858 | 952 | 974 | 1,096 | 1,521 | 1,486 |
| Borrowings | 105 | 332 | 189 | 525 | 2,086 | 760 |
| Other liabilities | 517 | 569 | 560 | 511 | 727 | 247 |
| Total liabilities | 1,490 | 1,864 | 1,733 | 2,142 | 4,345 | 2,505 |
| Fixed assets | 416 | 411 | 408 | 385 | 1,281 | 366 |
| Capital work in progress | 6 | 12 | 5 | 6 | 1,740 | 3 |
| Investments | 418 | 538 | 657 | 1,151 | 210 | 1,512 |
| Other assets | 650 | 903 | 663 | 601 | 1,114 | 625 |
| Total assets | 1,490 | 1,864 | 1,733 | 2,142 | 4,345 | 2,505 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 181 | 268 | 17 | 129 | 105 | -206 |
| Cash from investing | -143 | -217 | -297 | 200 | -482 | -479 |
| Cash from financing | -36 | -69 | 166 | -214 | 281 | 644 |
| Net cash flow | 2 | -17 | -114 | 115 | -96 | -41 |
| Free cash flow | 139 | 237 | -26 | 113 | 94 | -223 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 21 | 24 | 18 | 30 | 40 | 88 |
| Inventory days | 77 | 79 | 83 | 54 | 42 | 36 |
| Days payable | 123 | 147 | 130 | 117 | 103 | 63 |
| Cash conversion cycle | -25 | -44 | -28 | -32 | -21 | 62 |
| Working capital days | -18 | -28 | -5 | -28 | -1 | 28 |
| Return on capital employed | 22.0% | 24.0% | 17.0% | 7.0% | 11.0% | −1.0% |
| Dividend payout | 19.0% | 17.0% | 13.0% | 28.0% | 0.0% | 0.0% |
Ownership
Who owns it
Public hold 54.75% as of Sept 2026; institutions cut 3.42 pts since Jun 2026.
- Promoters 37.13%
- Foreign institutions 1.39%
- Domestic institutions 6.72%
- Government 0.00%
- Public 54.75%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 1.65% held
- Mutual fund newly disclosed 1.17% held
- newly disclosed 1.14% held
- newly disclosed 0.04% held
The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Thirumalai Chemicals Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 18.23% | unchanged | |
| 5.62% | unchanged | |
| Mutual fund | 4.14% | −2.65 pp |
| 2.45% | unchanged | |
| 2.45% | unchanged | |
| 2.00% | unchanged | |
| 1.95% | unchanged | |
| 1.65% | newly disclosed | |
| 1.56% | unchanged | |
| 1.20% | unchanged | |
| Mutual fund | 1.17% | newly disclosed |
| 1.14% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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