TIRUMALCHMCommodities

Thirumalai Chemicals Limited

Commodity Chemicals · ISIN INE338A01024 · BSE 500412 · NSE EQ · FV ₹1
Last price
₹156
+0.89%today
What this company does

Thirumalai Chemicals Limited operates in Commodity Chemicals, part of the Commodities sector. It booked ₹547 cr of revenue in its latest quarter (Q1 FY27) and kept -8.0% of sales as profit. It is the 8th largest of 9 Commodity Chemicals companies we track, by market value.

Leading By leveraging the power of science, we seek to energise our customers' Producer of Phthalic products, enabling them to achieve their Anhydride sustainability and quality objectives.
Their stated vision

is to ensure the attainment of our Company’s set goals and objectives, thus fostering the generation of long-term value for all stakeholders, while upholding principles of transparency and accountability.

In the report:
31out of 100
Equitytale Health Score
Strained

Healthier than 31% of companies in Commodities, on all six measures of filed financials. Each measure is ranked against the 121–173 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
46

At close. Not part of the score.

Profitability & returns8

How much profit it earns on the money it employs

Balance sheet8

How much it owes, and whether earnings cover the interest

Cash quality24

Whether reported profit actually arrives as cash

Growth & consistency38

Whether sales and profit have grown, and how steadily

Valuation59

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Some things to watch
Strengths
Sales up 21% vs last year
No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -8.0% net margin
! Low -11.2% return on equity
! Carries high debt (D/E 1.3)
! Operating cash flow is negative

What if I invest in TIRUMALCHM?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹156 +0.89%
latest close · 2026-09-17
1-year return
-11.7%
52-wk low ₹14452-wk high ₹336
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio1.20Moderate
Below bookModerateHigh
EV / EBITDA27.2High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-11.2%Loss
WeakFairStrong ▸15%
Return on capital1.5%Weak
WeakFairStrong
Net margin-8.0%Loss
ThinDecentStrong
EBITDA margin6.6%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.34High
LowModerateHigh ▸1
Interest cover0.2×Risky
RiskyOkayStrong ▸5×
Current ratio0.61Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹1,876 cr
Book value
₹130
EPS
₹-3.62
latest quarter
Net debt
₹2,029 cr
owes more than its cash
Enterprise value
₹3,905 cr
EBITDA
₹143 cr
annualised
EBIT
₹51 cr
annualised
Operating margin
2.4%
Return on assets
-3.7%
Earnings yield
P/S
0.86
Sales / share
₹181.3
Tax rate
Face value
₹1
Shares
12.1 cr
Working capital
₹-501 cr
Current assets
₹797 cr
Current liabilities
₹1,297 cr
Delivery %
42.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹33₹52, midpoint ₹43

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹547 cr
Other Income₹3 cr
Total Income₹550 cr
Cost of Materials₹428 cr
Purchases of Stock-in-Trade₹3 cr
Inventory Change (±)₹-25 cr
Employee Benefit Expense₹19 cr
Finance Costs₹52 cr
Depreciation & Amortisation₹23 cr
Other Expenses₹89 cr
Total Expenses₹589 cr
Profit before Tax₹-39 cr
Tax Expense₹5 cr
Net Profit₹-44 cr
Net margin on total income-7.9%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹406 cr68.4%
Employee benefit expense₹19 cr3.3%
Finance costs₹52 cr8.8%
Depreciation & amortisation₹23 cr3.9%
Other expenses₹89 cr14.9%
Tax expense₹5 cr0.8%
Total income ₹550 cr

The company made a net loss of ₹44 cr this quarter — income covered only 93 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue416 cr424 cr547 cr
Total income420 cr433 cr550 cr
Expenses475 cr463 cr589 cr
Profit before tax-55 cr-38 cr-39 cr
Tax-9 cr-10 cr5 cr
Net profit (owners' share)-47 cr-28 cr-44 cr
Net margin (owners' share, on revenue)-11.2%-6.6%-8.0%
EPS (₹)-3.92-2.32-3.62
YoY (latest quarter): total income +21.6% · net profit
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹4,737 cr
Shareholder equity
₹1,564 cr
parent shareholders
Total debt
₹2,093 cr
Cash
₹64 cr
Cash flow · H1 FY26
Operating
₹-268 cr
Investing
₹-350 cr
Financing
₹618 cr
Peer comparison
Commodity Chemicals · by market value
CompanyPriceMarket capP/E
SRF Limited₹2,536₹75,172 cr24.8
Tata Chemicals Limited₹779₹69,788 cr
Deepak Fertilizers and Petrochemicals Corporation Limited₹1,325₹16,722 cr8.5
Gujarat Narmada Valley Fertilizers and Chemicals Limited₹585₹8,597 cr6.9
Gujarat Alkalies and Chemicals Limited₹674₹4,948 cr22.5
GHCL Limited₹420₹3,862 cr8.6
J.G.Chemicals Limited₹588₹2,305 cr23.0
Thirumalai Chemicals Limitedthis company₹156₹1,876 cr
IG Petrochemicals Limited₹555₹1,708 cr6.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹1
ex 16 Jul 2024
ActionDetailEx-date
Dividend₹1 / share16 Jul 2024
Dividend₹1.5 / share14 Jul 2023
Dividend₹2.5 / share19 Jul 2022
Dividend₹2.2 / share13 Jul 2021
Dividend₹2 / share17 Jul 2019
Stock splitStock Split From Rs.10/- to Rs.1/-14 Aug 2018
Who owns it · 2026-06-30
No pledge
Promoter
37.1%
FII / Foreign
1.5%
DII / Domestic
10.1%
Retail / others
51.3%
Promoter stake down 4.8% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtRANGASWAMY SAMPATH HUF · Promoter Group6,418 · ₹19.0 L23 Dec 25
BoughtRAMYA BHARATHRAM jointly held with R SAMPATH · Promoter Group16,891 · ₹50.0 L23 Dec 25
BoughtV BHARATH RAM · Promoter Group16,891 · ₹50.0 L23 Dec 25
Bulk / block deals
short · NSE13 Feb 26
short · NSE4429 Oct 25
short · NSE8124 Oct 25
Stake changes
SoldMotilal Oswal Small cap Fund→ 4.76% · 1.51 L17 Jul 26
BoughtPARTHASARATHY FAMILY TRUST · promoter→ 2.34% · 23.98 L18 Aug 22
BoughtPARTHASARATHY FAMILY TRUST · promoter→ 2.34% · 23.98 L18 Aug 22
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 7 Aug 2026
See the official result
1
To receive, consider and adopt the Audited Financial Statements (including consolidated Financial Statements) for the Financial Year ended on March 31, 2026, and the Reports of the Directors and Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
1.06 cr votes for, 385 against · 0% of mutual funds and other big investors said no
2
To appoint a Director in place of Ms. Ramya Bharathram (DIN: 06367352), who retires by rotation and being eligible, offers herself for reappointment
Backed by 100% of shareholders other than promotersneeded 50%
1.06 cr votes for, 26,483 against · 0% of mutual funds and other big investors said no
3
To appoint M/s. PKF Sridharan & Santhanam LLP, Chartered Accountants as Statutory Auditor of the Company
Backed by 91% of shareholders other than promotersneeded 50%
97.08 L votes for, 9.44 L against · 10% of mutual funds and other big investors said no
4
To ratify the remuneration to Cost Auditor for Financial Year ended March 31, 2026
Backed by 100% of shareholders other than promotersneeded 50%
1.06 cr votes for, 19,085 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 35 named members
owning 37.1% between them · as of 2026-06-30
Ultramarine And Pigments Ltd18.23%
Jasmine Limited5.62%
Sampath Family Trust2.45%
Sujata Sampath Family Trust2.45%
R Parthasarathy Family Trust2.00%
Bhooma Parthasarathy Family Trust1.95%
Indira Sundararajan1.56%
Tara Parthasarathy Family Trust0.61%
Business done with them
FY2026 · 3 of the group
The company paid ₹26 cr to companies in the promoter group last year — about 1.5% of its ₹1,736 cr revenue and received ₹2 cr back from them.
ULTRAMARINE & PIGMENTS LIMITED
Contribution made to them
also owns 18.23% of the company
₹20 cr
company paid
PARTHASARATHY RANGASWAMY
Other payments to them
also owns 0.18% of the company
₹4 cr
company paid
Ramya Bharathram
Other payments to them
also owns 0.33% of the company
₹2 cr
company paid
ULTRAMARINE & PIGMENTS LIMITED
Other income from them
also owns 18.23% of the company
₹1 cr
company received
ULTRAMARINE & PIGMENTS LIMITED
Provided services to them
also owns 18.23% of the company
₹43 L
company received
ULTRAMARINE & PIGMENTS LIMITED
Paid them for services
also owns 18.23% of the company
₹23 L
company paid

The company also transacted with 2 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹56 cr raised in Dec 2025 by selling shares to selected investors

As of Jun 2026, the company says it has spent 100% of what it set aside, leaving ₹15.4 L still to be spent.

Investment in TCL global BV for onward investment eventually into TCL Specialties LLC in the United States of America to finance capital expenditure
100%
₹36 cr of ₹36 cr
General Corporate Purposes
originally ₹20 cr
budget changed
100%
₹20 cr of ₹20 cr
Issue Expenses
originally ₹15 L
budget changed
100%
₹15.8 L of ₹15.8 L
₹451 cr raised in Aug 2025 by selling shares to selected investors

As of Dec 2025, the company says it has spent 100% of what it set aside, leaving ₹27 L still to be spent. CRISIL Limited watches the spending on the exchange’s behalf.

Investment in TCL global BV for onward investment eventually into TCL Specialties LLC in the United States of America to finance capital expenditure
100%
₹330 cr of ₹330 cr
General Corporate Purposes
originally ₹111 cr
budget changed
100%
₹111 cr of ₹111 cr
Issue Expenses
97%
₹10 cr of ₹10 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.