Thirumalai Chemicals Reports 87% EBITDA Drop in Q1 Amid Global Headwinds
Thirumalai Chemicals experienced a significant decline in Q1 financial performance. Consolidated total income fell 19% to ₹452.00 crore, EBITDA turned negative at ₹25.00 crore, and the company reported a net loss of ₹60.00 crore. Challenges included global headwinds, lower product spreads, and operational issues at new facilities. Despite this, the company achieved some operational milestones and remains optimistic about future prospects, including improved utilization at the Dahej plant and the upcoming USA project launch.
Thirumalai Chemicals Limited (TCL) has provided clarification on the use of proceeds from its proposed ₹450.62 crore preferential share issue. The company confirmed that ₹110.62 crore allocated for General Corporate Purposes will not be used for investments in subsidiaries, joint ventures, or associates. Instead, these funds may be used for ongoing corporate exigencies, contingencies, company expenses, and other permissible general purposes as decided by the Board. This clarification addresses concerns raised by stock exchanges BSE and NSE regarding TCL's application for in-principle approval for the share issue.
15Jul 25
TCL Specialties LLC Reports Significant Progress on West Virginia Petrochemical and Food Ingredient Facilities
Thirumalai Chemicals Limited's subsidiary, TCL Specialties LLC, reports significant progress in constructing petrochemical and food ingredient facilities in West Virginia, USA. The project, set to complete by late 2025 and commence operations in 2026, includes a Maleic Anhydride plant and a food ingredients plant for Malic and Fumaric Acid. Located in the shale gas plateau, the facilities benefit from abundant n-Butane supply. TCL aims to serve the North American market, targeting industries such as automotive, aircraft, and the growing snacks and beverages sector. The company has engaged with 80% of US customers and is assembling its US management team.
Thirumalai Chemicals Ltd plans to raise ₹4.51 billion through a preferential share issue of up to 16.3 million shares at ₹277.00 per share. This strategic move aims to strengthen the company's financial position and potentially fund expansion, debt reduction, R&D, or working capital needs. The preferential allotment suggests a targeted approach to fundraising, possibly involving select investors or strategic partners.
16Jun 25
Thirumalai Chemicals to Discuss Preferential Equity Share Issuance in Upcoming Board Meeting
Thirumalai Chemicals Ltd. has scheduled a board meeting for June 19 to discuss the potential issuance of equity shares on a preferential basis. This move could lead to a fresh capital infusion, changes in ownership structure, and possible strategic partnerships. The outcome of this meeting may significantly impact the company's capital structure and future growth strategies.
02Jun 25
Thirumalai Chemicals Plans to Double Phthalic Anhydride Production Capacity
Thirumalai Chemicals has announced plans to double its production capacity of Phthalic Anhydride by fiscal year 2027-28. This expansion strategy aims to increase market share, improve manufacturing efficiency, and meet growing customer demand. The move reflects the company's long-term vision and confidence in future market demand for Phthalic Anhydride and its derivatives.
26May 25
Thirumalai Chemicals to Consider 1 Billion Rupee Debenture Issuance
Thirumalai Chemicals Ltd has scheduled a board meeting for May 29 to consider issuing debentures worth ₹100 crore (1 billion rupees). The purpose of the potential fund-raising and the terms of the debentures have not been disclosed. This move could impact the company's capital structure and financial strategy.
16May 25
Thirumalai Chemicals Reports Narrowed Q4 Loss Amid Revenue Dip
Thirumalai Chemicals Ltd. reported Q4 consolidated revenue of ₹523.00 crore, down 1.32% year-over-year. Net loss improved to ₹14.10 crore from ₹20.50 crore last year, a 31.22% reduction. Quarterly data shows revenue decline of 9.97% and increased pressure on EBITDA and operating profit. Full fiscal year revenue was ₹2,102.50 crore, down 2.77%. The company faces operational challenges but shows improved financial management.