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Thirumalai Chemicals Limited
(TIRUMALCHM)
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Rating:43Neutral
Price Target:
₹116.00
▼(-50.47% 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 a core intermediate and related downstream chemicals gives the company exposure to multiple industrial applications. This product breadth can support customer relevance and provide some mix flexibility as demand and pricing conditions differ across end markets.
Negative Factors
Sustained Losses and Revenue Decline
Three consecutive years of declining revenue alongside sustained losses indicate that the recent weakness is broader than a single quarter. Negative EBIT and net margins reduce internal funding capacity and make a durable earnings recovery dependent on improved demand, pricing, or cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Chemical Portfolio
A portfolio spanning a core intermediate and related downstream chemicals gives the company exposure to multiple industrial applications. This product breadth can support customer relevance and provide some mix flexibility as demand and pricing conditions differ across end markets.
Read all positive factors
Thirumalai Chemicals Limited (TIRUMALCHM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹13.74B
Dividend Yield0.32%
Average Volume (3M)25.38K
Price to Earnings (P/E)―
Beta (1Y)1.27
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. Volume16,623
30 Day Avg. Volume25,380
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
147.86
Negative
158.39
Negative
176.46
Negative
Market Momentum
-9.93
Positive
21.92
Positive
9.56
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 133.72, above the 50-day MA of 147.86, and above the 200-day MA of 176.46, indicating a bearish trend. The MACD of -9.93 indicates Positive momentum. The RSI at 21.92 is Positive, neither overbought nor oversold. The STOCH value of 9.56 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 | ₹102.97B | 22.94 | ― | 0.86% | 5.09% | 5.44% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹129.99B | 74.35 | ― | 0.13% | 51.77% | 36.90% | |
53 Neutral | ₹89.05B | 25.14 | ― | 0.89% | 15.41% | 21.76% | |
48 Neutral | ₹38.49B | 61.11 | ― | 0.12% | 49.69% | 254.75% | |
47 Neutral | ₹157.96B | 29.74 | ― | 0.23% | 27.05% | 123.98% | |
43 Neutral | ₹13.74B | -8.84 | ― | 0.32% | -5.80% | -19.15% |
* General Sector Average
IN:TIRUMALCHM
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113.95
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-59.74%
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Thirumalai Chemicals Limited Corporate Events
Thirumalai Chemicals Promoter Group Members Seek Reclassification as Public Shareholders
Oct 27, 2026
Thirumalai Chemicals Limited has received formal requests from two members of its promoter group to reclassify their shareholding status to public under SEBI’s Listing Obligations and Disclosure Requirements. The applicants, Narayan Santhana...
Thirumalai Chemicals Faces Customs Audit Over Export Incentive Benefits
Oct 22, 2026
Thirumalai Chemicals Limited has disclosed that it received an audit communication from the Office of the Commissioner of Customs Audit in Chennai regarding shipping bills filed for its exports under the DFIA scheme. The customs authority alleges ...
Thirumalai Chemicals Files SEBI-Mandated Dematerialisation Compliance Certificate
Oct 15, 2026
Thirumalai Chemicals Limited has submitted a confirmation certificate to the National Stock Exchange of India and BSE for the quarter ended September 30, 2026, in compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulat...
Thirumalai Chemicals to Monetise Part Stake in Ultramarine & Pigments
Sep 30, 2026
Thirumalai Chemicals Limited has approved a plan to sell up to 950,000 equity shares in Ultramarine Pigments Limited, a company in which it is a promoter shareholder. The stake sale, representing about 3.25% of Ultramarine Pigments’ total ...
Thirumalai Chemicals to Sell Part of Promoter Stake in Ultramarine & Pigments
Aug 30, 2026
Thirumalai Chemicals has announced that its Fund Raising Committee approved the sale of up to 1,460,000 equity shares in Ultramarine Pigments Limited, a company in which Thirumalai currently holds a 14.38% stake as promoter. The proposed sale, am...
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. ...
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.