Thirumalai Chemicals Limited (TIRUMALCHM) AI Stock Analysis

• Market Cap: ₹29.19B
• Dividend Yield: 0.35%
• Average Volume (3M): 31.25K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.15
• Revenue Growth: -1.61%
• EPS Growth: -18.85%
• Country: IN
• Employees: 537
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Chemicals - Specialty
• EPS (TTM): N/A
• Shares Outstanding: 102,388,120
• 10 Day Avg. Volume: 24,348
• 30 Day Avg. Volume: 31,255
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹280.00
• Price Target Upside: -1.67% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 48 Neutral
• Price Target: ₹280.00 ▼(-1.67% Downside)

The overall stock score reflects significant financial challenges, including declining revenue, profitability, and liquidity issues. Despite some positive technical indicators, the stock's overvaluation and financial risks weigh heavily on its score.

Thirumalai Chemicals Limited Business Overview & Revenue Model

Company Description

Thirumalai Chemicals Limited (TIRUMALCHM) is a leading Indian company engaged primarily in the production and marketing of chemicals. The company operates in the chemical industry, focusing on the manufacture of key industrial chemicals such as phthalic anhydride, maleic anhydride, and their derivatives. These chemicals serve as essential raw materials for a variety of sectors, including plastics, paints, construction, and automotive industries, enhancing the company's strategic importance in these markets.

How the Company Makes Money

Thirumalai Chemicals Limited generates revenue through the production and sale of industrial chemicals. The company's primary revenue streams include the sale of phthalic anhydride and maleic anhydride, which are used extensively in the manufacture of plasticizers, alkyd resins, and unsaturated polyester resins. These products are sold to various industries, including plastics, construction, and automotive, both domestically and internationally. The company benefits from strategic partnerships and long-term contracts with major industrial players, which provide a stable and recurring income. Additionally, Thirumalai Chemicals invests in research and development to innovate and improve its product offerings, thus maintaining a competitive edge in the market.

Thirumalai Chemicals Limited Financial Statement Overview

Summary

Thirumalai Chemicals Limited faces significant financial challenges with declining revenue and profitability, increasing leverage, and cash flow issues, which pose risks to its financial stability.

Income Statement

Thirumalai Chemicals Limited experienced volatility in its income statement over the years. The company showed a declining revenue trend from 2023 to 2025, with a notable drop in profitability. The net profit margin turned negative in 2024 and 2025, indicating operational challenges. Despite a strong gross profit margin in earlier years, recent margins reflect increased cost pressures and reduced operational efficiency.

Balance Sheet

The balance sheet reveals a moderate financial position. The debt-to-equity ratio has increased over the years, suggesting higher leverage and potential risk. However, the equity ratio remains relatively stable, indicating a balanced asset structure. The return on equity has declined significantly, reflecting reduced profitability and returns for shareholders.

Cash Flow

The cash flow statements highlight cash management issues, with negative free cash flow in recent years due to high capital expenditures. The operating cash flow has turned negative, straining liquidity and cash reserves. The negative operating cash flow to net income ratio in the latest period underscores the company's challenge in converting profits into cash.

Breakdown	Mar 2025	Mar 2024	Mar 2022	Mar 2023	Mar 2021
Income Statement
Total Revenue	20.50B	20.72B	19.97B	21.32B	10.85B
Gross Profit	4.63B	3.87B	7.65B	6.01B	4.16B
EBITDA	488.00M	645.40M	4.52B	2.16B	2.28B
Net Income	-461.00M	-387.90M	2.81B	898.30M	1.18B
Balance Sheet
Total Assets	38.07B	33.20B	18.62B	23.60B	13.43B
Cash, Cash Equivalents and Short-Term Investments	3.57B	4.49B	5.54B	5.49B	3.25B
Total Debt	17.86B	12.52B	1.65B	5.14B	1.83B
Total Liabilities	26.51B	21.74B	7.77B	11.68B	5.40B
Stockholders Equity	11.56B	11.46B	10.85B	11.92B	8.03B
Cash Flow
Free Cash Flow	-6.79B	-5.74B	3.29B	-3.09B	1.60B
Operating Cash Flow	-658.80M	2.37B	4.02B	541.30M	2.21B
Investing Cash Flow	-5.42B	-8.47B	-1.39B	-3.59B	-1.57B
Financing Cash Flow	3.75B	6.43B	-699.80M	2.06B	-379.70M

Thirumalai Chemicals Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 284.75
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TIRUMALCHM, the sentiment is Negative. The current price of 284.75 is below the 20-day moving average (MA) of 295.19, below the 50-day MA of 289.36, and above the 200-day MA of 283.97, indicating a neutral trend. The MACD of -1.16 indicates Positive momentum. The RSI at 45.08 is Neutral, neither overbought nor oversold. The STOCH value of 29.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TIRUMALCHM.

Thirumalai Chemicals Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FCL	72 Outperform	₹26.12B	23.92		0.35%	-8.66%	-17.63%
IOLCP	69 Neutral	₹26.49B	25.22		0.89%	2.73%	-11.40%
IGPL	66 Neutral	₹13.10B	21.60		2.34%	5.11%	175.08%
PUNJABCHEM	64 Neutral	₹15.51B	33.64		0.23%	9.24%	2.10%
TATVA	63 Neutral	₹24.73B	345.69		0.19%	2.47%	-72.80%
TIRUMALCHM	48 Neutral	₹29.19B	―		0.35%	-1.61%	-18.85%
Sector *	44 Neutral	C$923.76M	-8.68	-0.23%	2.69%	24.53%	-41.45%

Thirumalai Chemicals Limited Corporate Events

Thirumalai Chemicals Reports Strong Shareholder Support at AGM

Thirumalai Chemicals Limited announced the results of its e-voting and scrutinizer’s report from the Annual General Meeting held on July 25, 2025. The meeting saw participation from both promoters and public shareholders, with a significant majority voting in favor of the resolutions presented, including the adoption of audited financial statements. This outcome reflects strong shareholder support and could positively influence the company’s strategic decisions and market confidence.

Thirumalai Chemicals Conducts EGM via Video Conference

Thirumalai Chemicals Limited held an Extraordinary General Meeting (EGM) on July 14, 2025, via video conference, with 37 shareholders in attendance. The meeting, chaired by Mr. R. Parthasarathy, provided an e-voting facility and was conducted in compliance with relevant regulations, ensuring transparency and accessibility for stakeholders.

Thirumalai Chemicals Approves Equity Share Issuance to Bolster Growth

Thirumalai Chemicals Limited held an Extraordinary General Meeting on July 14, 2025, where shareholders approved a special resolution to issue equity shares through a preferential issue on a private placement basis. This decision, supported by 99.55% of the votes, is expected to strengthen the company’s capital structure and enhance its market position, potentially impacting stakeholders positively by providing additional financial resources for growth and development.

Thirumalai Chemicals Enhances Debenture Marketability with AOA Amendment

Thirumalai Chemicals Limited announced an amendment to its Articles of Association, approved by shareholders during an Extraordinary General Meeting. This amendment introduces a new Article 73A, which facilitates the transfer of debentures issued by the company, enhancing their marketability and liquidity. This strategic move is expected to improve the company’s financial flexibility and appeal to investors, potentially strengthening its position in the market.

Thirumalai Chemicals Ensures Compliance with SEBI Regulations

Thirumalai Chemicals Limited has submitted a confirmation certificate to the stock exchanges for the quarter ending June 30, 2025, in compliance with SEBI regulations. This announcement confirms the dematerialization of securities and their listing on stock exchanges, ensuring regulatory compliance and maintaining transparency for stakeholders.

Thirumalai Chemicals Announces EGM Corrigendum

Thirumalai Chemicals Limited has announced a corrigendum to the notice of its Extraordinary General Meeting (EGM) scheduled for July 14, 2025. The meeting will be conducted via video conference, and the corrigendum has been published in prominent newspapers. This announcement ensures transparency and keeps stakeholders informed about the procedural updates, reflecting the company’s adherence to regulatory requirements and its proactive communication strategy.