Thirumalai Chemicals (TIRUMALCHM) is loss-making over the last 12 months, losing ₹152 Cr, so a P/E ratio does not apply. Its share price on 6 Nov 2026 was ₹117.33, 58% below its 52-week high. Sales fell 6.7% a year over 3 years. Debt is 1.39× equity. It is a small-cap company with a market cap of ₹1,414 Cr, ranked 75th of 204 Specialty Chemicals companies by market cap; the shares fell 57% over the past year.
- ₹121.80
- ₹122.00
- ₹115.90
- ₹120.68
- 2.8 L
Health check
- ReturnsBehind
−57.1% over a year, better than 0 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthShrinking
Sales −6.7% a year over 3 years.
- ProfitabilityNegative
ROCE -3.5% vs peer median 24.4%.
- Balance sheetStretched
Debt 1.39× equity, operating profit doesn’t cover interest, Piotroski 2 of 9.
- Red flags4 to check
Loss-making over the last twelve months.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,414 Cr
- Small cap
- P/E
- n/a
- Industry 22.1
- Price to book
- 0.90
- Peers 13.33
- Dividend yield
- 0.00%
- ROE
- −12.3%
- Peers 23.0%
- ROCE
- −3.5%
- Peers 24.4%
- Debt to equity
- 1.39
- Debt ₹2,175 Cr
- EPS (TTM)
- −₹12.93
- Face value ₹1
- OPM (TTM)
- 1.1%
- Net margin −8.3%
- Sales growth
- +21.5%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.77
- EV/EBITDA 83.2
Strengths and risks
Strengths
- Quarterly sales up 21.5% on a year ago.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −12.3%.
- 58% below its 52-week high.
- Interest coverage of only −0.2×.
About Thirumalai Chemicals
Thirumalai Chemicals Limited, together with its subsidiaries, manufactures and sells organic chemicals in India and internationally. The company offers phthalic anhydride, diethyl phthalate, malic acid, fumaric acid, and fine chemicals. It serves the food and beverages, pharmaceuticals, animal nutrition, fragrances, cosmetics, resins, industrial formulations, plastics, and paints industries. The company was founded in 1944 and is based in Chennai, India.
- Headquarters
- Chennai
- Employees
- 478
- Sector
- Basic Materials
- ISIN
- INE338A01024
- Website
- thirumalaichemicals.com
Price range
- Avg volume (3M)
- 4.8 L
- 1-year return
- minus 57.1%
- From 52-week high
- minus 57.6%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 16.5% | 0.09 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.4% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| TIRUMALCHMThirumalai Chemicals | 117.33 | minus 2.78% | 1,414 | – | – | −3.5% | 1.8% | 1.39 | −6.7% | minus 57.1% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.4% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 450 | 445 | 416 | 424 | 547 | |
| 477 | 449 | 431 | 418 | 514 | |
| −26.7 | −3.7 | −15.1 | 6.2 | 32.6 | |
| −5.9% | −0.8% | −3.6% | 1.5% | 6.0% | |
| 2.2 | 8.4 | 4 | 8.3 | 3.3 | |
| 18.2 | 25.7 | 21.5 | 23.6 | 52 | |
| 21.6 | 22.8 | 22.7 | 21.3 | 23 | |
| – | – | – | −8 | – | |
| −64.4 | −43.8 | −55.3 | −38.4 | −39.1 | |
| 6.9% | 23.7% | 15.7% | 27.1% | −11.7% | |
| −60 | −33.4 | −46.6 | −28 | −43.7 | |
| -5.86 | -3.07 | -3.92 | -2.32 | -3.62 |
Profit & loss
- Sales CAGR 3Y
- −6.7%
- ROE
- −12.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,120 | 2,072 | 2,037 | 1,722 | |
| – | minus 2.3% | minus 1.7% | minus 15.5% | |
| 1,934 | 2,015 | 1,980 | 1,740 | |
| 187 | 57 | 57 | −18.5 | |
| 8.8% | 2.8% | 2.8% | −1.1% | |
| 23.8 | 7.2 | 8.9 | −12.1 | |
| 26.2 | 35.9 | 44.5 | 80.6 | |
| 55.7 | 63.2 | 61.1 | 88.4 | |
| 1 | 0.4 | −1.1 | −2.2 | |
| 129 | −34.6 | −40.9 | −202 | |
| 30.6% | −12.3% | −12.9% | 16.8% | |
| 89.8 | −38.8 | −46.1 | −168 | |
| 8.77 | -3.79 | -4.50 | -14.91 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.2 | 10.2 | 10.2 | 12.1 | |
| 1,182 | 1,136 | 1,145 | 1,552 | |
| 514 | 1,252 | 1,786 | 2,175 | |
| 654 | 922 | 865 | 998 | |
| 2,360 | 3,320 | 3,807 | 4,737 | |
| 1,077 | 1,911 | 2,603 | 3,769 | |
| 406 | 1,200 | 1,352 | 2,518 | |
| 132 | 139 | 200 | 154 | |
| 459 | 449 | 186 | 70.2 | |
| 286 | −379 | −534 | −1,775 | |
| 2,360 | 3,320 | 3,807 | 4,737 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 54.1 | 237 | −65.9 | −131 | |
| −359 | −831 | −542 | −600 | |
| 206 | 643 | 375 | 603 | |
| −99 | 48.8 | −233 | −128 | |
| −363 | −811 | −613 | −599 | |
| −309 | −574 | −679 | −730 | |
| −25.6 | −15.4 | −10.2 | – |
Shareholding pattern
- Promoters37.13%
- Public62.87%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 37.13% | 62.87% | 0.00 | |
| 30 Jun 2026 | 37.13% | 62.87% | 0.00 | |
| 31 Mar 2026 | 37.13% | 62.87% | 0.00 | |
| 31 Dec 2025 | 37.13% | 62.87% | 0.00 | |
| 23 Dec 2025 | 37.13% | 62.87% | – |
Major shareholders
Filings & events
News
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