Thirumalai Chemicals Limited has informed the Exchange about Corporate Presentation
TIRUMALCHM · price
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Thirumalai Chemicals has filed a corporate presentation with the exchanges covering its business profile, growth projects, and financial outlook. The company is a leading global producer of Phthalic Anhydride (PAn) with ~5% world capacity, and reported consolidated revenue of INR 2,050 Cr in FY25 (17% CAGR over FY21-25). It highlighted two major growth projects: a ~$240 million US facility (40.5 KTPA) in West Virginia commissioning in FY26, and a INR 750 Cr Dahej expansion (94 KTPA PAn + 10 KTPA FAc) ramping to full utilization in FY26. By FY27-28, the company targets doubling PAn capacity, becoming one of the largest global food acid producers, and shifting product mix toward value-added products (VAP) to reduce commodity cycle dependence. Recent financials show pressure — consolidated EBITDA margin fell from 23% in FY22 to 3% in FY25, and the company slipped into a consolidated loss of INR 46 Cr in FY25.
The presentation paints a clear turnaround story: near-term margin pressure is well-known, but new US and Dahej capacities coming online in FY26 should drive volume growth and margin recovery through value-added products. Investors should watch FY26 commissioning timelines and any updates on import substitution benefits from US tariffs, as these will be the key swing factors for earnings.