Thirumalai Chemicals Limited has informed the Exchange proceedings of Annual General Meeting held on July 25, 2025
TIRUMALCHM · price
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Thirumalai Chemicals held its 52nd AGM on July 25, 2025, via video conference, with 71 shareholders attending out of 61,942 on the record date. Eleven directors were present, including Chairman & MD R. Parthasarathy and MD & CFO Ramya Bharathram. Nine resolutions were tabled, covering adoption of FY25 audited financials (ordinary), re-appointment of CMD R. Parthasarathy and several director appointments, and ratification of the Cost Auditor's remuneration (all special resolutions). The Chairman shared that the Dahej subsidiary (Phthalic Anhydride plant, ~100,000 tons capacity) is ramping up to full capacity within two months, and the new US facility for food ingredients and Maleic Anhydride will go on stream from December 2025, with FY26-27 as its first full year of operation. The company has begun its first borrowing in 2.5 years to fund these projects and plans a small preference share raise to strengthen its equity base, noting market value has grown from Rs. 30-50 crore a decade ago to nearly Rs. 3,000 crore. The Statutory Auditor's Report carried no qualifications.
US plant commissioning in December 2025 and Dahej ramp-up are key near-term growth catalysts, but the preference share raise signals some equity dilution. Clean statutory audit report and the company's continued focus on the domestic plus North American markets are positive for long-term shareholders.