Thirumalai Chemicals Limited has informed the Exchange regarding 'Corporate Presentation for the Quarter and Nine Months ended December 2025'.
TIRUMALCHM · price
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Thirumalai Chemicals shared its Q3 FY26 investor presentation alongside weak results. Standalone total income fell 39% year-on-year to ₹307 Cr in Q3, with EBITDA turning negative at -₹8 Cr (vs ₹10 Cr last year) and PAT at -₹27 Cr. On a consolidated basis, Q3 revenue dipped 6% to ₹420 Cr with EBITDA at -₹11 Cr and PAT at -₹47 Cr. For 9M FY26, standalone PAT swung to a ₹55 Cr loss from a ₹45 Cr profit, while consolidated loss widened to ₹140 Cr. The company blamed weak global chemical demand (70-75% utilization), elevated distributor inventory, and trade/tariff uncertainties for the pressure, particularly in Phthalic Anhydride. On the positive side, the new USA facility commenced first-phase commercial operations in December 2025 with Maleic Anhydride sales, and is on track for full stabilization in H1 CY26. The Malaysia plant turned EBITDA positive in Q3, and Food Ingredients secured strong contract wins in the US and EU despite aggressive Chinese pricing.
Shareholders face a clearly deteriorating earnings picture with consolidated losses nearly tripling and standalone EBITDA collapsing 91% over nine months. Near-term sentiment is likely negative given the margin pressure and weak global demand outlook, though the USA plant's commercial commencement and Malaysia's turnaround provide longer-term optionality worth monitoring.