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Thirumalai Chemicals Limited
(TIRUMALCHM)
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Rating:43Neutral
Price Target:
₹151.00
▼(-35.53% Downside)
Action:Reiterated
Date:08/21/26
The score is dragged down primarily by deteriorating fundamentals—multi-year losses, declining revenue, higher leverage, and negative operating/free cash flow—followed by clearly bearish technical momentum (price below key moving averages with negative MACD). Valuation contributes only modestly because the negative P/E reflects loss-making conditions and dividend yield data is unavailable.
Positive Factors
Diversified Chemical Portfolio
A portfolio spanning core intermediates and downstream products gives the company exposure to multiple industrial applications. This can support customer diversification and reduce dependence on a single end market over the medium term.
Negative Factors
Sustained Profitability Deterioration
The shift from strong FY2021–FY2022 margins to three consecutive loss-making years signals a material weakening in earnings power. Persistent negative operating and net margins may constrain reinvestment and make recovery dependent on substantial operating improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Chemical Portfolio
A portfolio spanning core intermediates and downstream products gives the company exposure to multiple industrial applications. This can support customer diversification and reduce dependence on a single end market over the medium term.
Read all positive factors
Thirumalai Chemicals Limited (TIRUMALCHM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹17.30B
Dividend Yield0.32%
Average Volume (3M)35.78K
Price to Earnings (P/E)―
Beta (1Y)1.23
Revenue Growth-5.80%
EPS Growth-19.15%
CountryIN
Employees537
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-12.93
Shares Outstanding120,552,770
10 Day Avg. Volume38,894
30 Day Avg. Volume35,778
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)1.19
Price to Sales (P/S)1.07
P/FCF Ratio-2.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Thirumalai Chemicals Limited Business Overview & Revenue Model
Company Description
Thirumalai Chemicals Limited, founded in 1972 and based in Mumbai, India, specializes in the manufacturing and sale of organic chemicals domestically. The company's product offerings include key compounds such as phthalic anhydride, maleic anhydri...
How the Company Makes Money
The company makes money primarily by manufacturing chemicals and selling them to industrial customers. Its core revenue stream is product sales from its chemical portfolio (including phthalic anhydride and downstream derivatives), earned through c...
Thirumalai Chemicals Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
35
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 18.32B | 17.36B | 20.50B | 20.72B | 21.20B | 19.97B |
| Gross Profit | 2.51B | 1.92B | 4.63B | 3.87B | 6.01B | 7.65B |
| EBITDA | 287.10M | -244.30M | 488.00M | 645.40M | 2.16B | 4.52B |
| Net Income | -1.52B | -1.68B | -461.00M | -387.90M | 898.30M | 2.81B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 47.37B | 38.07B | 33.20B | 23.60B | 18.62B |
| Cash, Cash Equivalents and Short-Term Investments | 678.50M | 2.62B | 1.86B | 4.49B | 4.59B | 5.54B |
| Total Debt | 0.00 | 21.75B | 17.86B | 12.52B | 5.14B | 1.65B |
| Total Liabilities | -15.64B | 31.73B | 26.51B | 21.74B | 11.68B | 7.77B |
| Stockholders Equity | 15.64B | 15.64B | 11.56B | 11.46B | 11.92B | 10.85B |
Cash Flow | ||||||
| Free Cash Flow | -6.28B | -8.98B | -6.79B | -5.74B | -3.09B | 3.29B |
| Operating Cash Flow | -2.68B | -2.99B | -658.80M | 2.37B | 541.30M | 4.02B |
| Investing Cash Flow | -3.50B | -6.04B | -5.42B | -8.31B | -3.59B | -1.39B |
| Financing Cash Flow | 6.18B | 7.75B | 3.75B | 6.43B | 2.06B | -699.80M |
Thirumalai Chemicals Limited Technical Analysis
Negative
234.20
Price Trends
160.08
Negative
169.76
Negative
185.20
Negative
Market Momentum
-3.00
Positive
40.14
Neutral
14.81
Positive
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 234.2 is above the 20-day moving average (MA) of 155.37, above the 50-day MA of 160.08, and above the 200-day MA of 185.20, indicating a bearish trend. The MACD of -3.00 indicates Positive momentum. The RSI at 40.14 is Neutral, neither overbought nor oversold. The STOCH value of 14.81 is Positive, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹121.90B | 27.27 | ― | 0.72% | 5.09% | 5.44% | |
60 Neutral | ₹41.88B | 85.45 | ― | 0.11% | 41.09% | 618.16% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹132.29B | 76.09 | ― | 0.13% | 51.77% | 36.90% | |
53 Neutral | ₹100.36B | 32.97 | ― | 0.78% | 10.96% | 11.16% | |
47 Neutral | ₹170.63B | 32.84 | ― | 0.21% | 27.05% | 123.98% | |
43 Neutral | ₹17.30B | -11.49 | ― | 0.32% | -5.80% | -19.15% |
* General Sector Average
IN:TIRUMALCHM
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Thirumalai Chemicals Limited Corporate Events
Thirumalai Chemicals Plays Down Impact of GST Show Cause Notice
Aug 19, 2026
Thirumalai Chemicals Limited has disclosed that it received a show cause notice from the Assistant Commissioner, Central GST and Central Excise, Audit Commissionerate, Vadodara, following an audit conducted under Section 65 of the CGST Act, 2017. ...
Thirumalai Chemicals Closes Trading Window Ahead of Q1 FY27 Results
Jun 27, 2026
Thirumalai Chemicals Limited has announced that its trading window for dealing in the company’s equity shares will be closed from 1 July 2026. The window will remain shut until 48 hours after the announcement of its unaudited financial resul...
Thirumalai Chemicals Publishes Audited FY26 Results in Newspapers for Investor Transparency
Jun 2, 2026
Thirumalai Chemicals Limited has informed the stock exchanges that it has published an extract of its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 in the Economic Times and Maharashtra Times. ...
Thirumalai Chemicals Confirms Aligned Use of Preferential Issue Funds for Global Expansion
May 30, 2026
Thirumalai Chemicals Limited reported to the stock exchanges that funds raised via a preferential issue on December 18, 2025, totaling Rs. 5,613.99 lakhs, have been utilized in line with stated objectives for the quarter ended March 31, 2026. The ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.