- Home
- Results news
- Thirumalai Chemicals
- Q2 FY27 results
Thirumalai Chemicals Q2 FY27 results: net loss widens to ₹34.31 crore, revenue up 33.9%
Thirumalai Chemicals Limited reported consolidated revenue of ₹596.47 crore for Q2 FY27, up 33.9% from Q2 FY26, while EBITDA turned to ₹38.67 crore from a loss. The company nevertheless reported a net loss of ₹34.31 crore, compared with a net loss of ₹33.38 crore a year earlier; basic EPS was -₹2.85.
Key points
- Consolidated revenue rose 33.9% year on year to ₹596.47 crore and increased 9.1% from Q1 FY27.
- EBITDA was ₹38.67 crore in Q2 FY27, against a loss of ₹3.65 crore in Q2 FY26, while the margin improved 7.3 percentage points to 6.5%.
- The company reported a net loss of ₹34.31 crore for Q2 FY27, compared with a net loss of ₹33.38 crore in Q2 FY26; basic EPS was -₹2.85.
- In H1 FY27, revenue increased 27.7% to ₹1,143.14 crore, while the net loss narrowed to ₹77.98 crore from ₹93.34 crore.
- The reaction-day share price move was -2.5%, compared with a 0.6% median move for the Commodity Chemicals industry.
How did Thirumalai Chemicals perform in Q2 FY27?
Thirumalai Chemicals reported consolidated revenue of ₹596.47 crore for Q2 FY27, up 33.9% from ₹445.37 crore in Q2 FY26 and 9.1% from ₹546.67 crore in Q1 FY27. EBITDA rose to ₹38.67 crore from a loss of ₹3.65 crore a year earlier, and the EBITDA margin improved 7.3 percentage points to 6.5%.
Profit before tax was a loss of ₹30.17 crore, compared with a loss of ₹43.77 crore in Q2 FY26 and a loss of ₹39.10 crore in Q1 FY27. The net loss was ₹34.31 crore in Q2 FY27, against a net loss of ₹33.38 crore in Q2 FY26 and a net loss of ₹43.67 crore in Q1 FY27. Basic EPS was -₹2.85.
On a standalone basis, Q2 FY27 revenue was ₹339.27 crore, down 5.0%, while profit after tax was ₹11.65 crore. Profit before tax was ₹13.32 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 596.47 | 546.67 | 445.37 | +33.9% | +9.1% |
| Other income | 9.71 | 3.29 | 8.39 | +15.7% | +195.1% |
| Total expenses | 636.35 | 589.06 | 497.53 | +27.9% | +8.0% |
| EBITDA | 38.67 | 32.57 | −3.65 | turned to profit | +18.7% |
| EBITDA margin | 6.5% | 6.0% | -0.8% | +7.3 pp | +0.5 pp |
| Profit before tax | −30.17 | −39.10 | −43.77 | ||
| Tax | 4.14 | 4.57 | −10.39 | −9.4% | |
| Net profit | −34.31 | −43.67 | −33.38 | ||
| EPS (₹) | −2.85 | −3.62 | −3.07 |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Thirumalai Chemicals' costs and profit?
Total expenses increased 27.9% to ₹636.35 crore from ₹497.53 crore in Q2 FY26. Cost of materials rose 10.9% to ₹425.95 crore, other expenses increased 11.7% to ₹94.59 crore, and finance costs rose 120.3% to ₹56.66 crore. Employee cost fell 22.1% to ₹18.68 crore, while depreciation declined 3.9% to ₹21.89 crore.
Other income rose 15.7% to ₹9.71 crore from ₹8.39 crore. The tax position was an expense of ₹4.14 crore in Q2 FY27, compared with a credit of ₹10.39 crore in Q2 FY26. There was no exceptional item in either quarter.
Against Q1 FY27, total expenses rose 8.0% to ₹636.35 crore. Finance costs increased 9.0% to ₹56.66 crore and other expenses rose 6.7% to ₹94.59 crore, while cost of materials declined 0.4% to ₹425.95 crore and employee cost fell 3.8% to ₹18.68 crore. Other income rose 195.1% to ₹9.71 crore, and there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 425.95 | 383.92 | +42.03 | +10.9% |
| Employee cost | 18.68 | 23.97 | −5.29 | −22.1% |
| Finance costs | 56.66 | 25.72 | +30.94 | +120.3% |
| Depreciation | 21.89 | 22.79 | −0.90 | −3.9% |
| Other expenses | 94.59 | 84.70 | +9.89 | +11.7% |
| Total expenses | 636.35 | 497.53 | +138.82 | +27.9% |
| Other income | 9.71 | 8.39 | +1.32 | +15.7% |
| Tax | 4.14 | −10.39 | +14.53 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹1,143.14 crore, up 27.7% from ₹895.42 crore in H1 FY26. Total income increased 28.2% to ₹1,156.14 crore from ₹902.08 crore.
Profit before tax was a loss of ₹69.27 crore, compared with a loss of ₹108.14 crore in H1 FY26. The net loss narrowed to ₹77.98 crore from ₹93.34 crore, and basic EPS was -₹6.47, compared with -₹8.84 in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,143 | 895.42 | +27.7% |
| Profit before tax | −69.27 | −108.14 | |
| Net profit | −77.98 | −93.34 | |
| EPS (₹) | −6.47 | −8.84 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹5,095.20 crore, compared with ₹4,736.56 crore at 31 March 2026. Total equity fell to ₹1,523.12 crore from ₹1,563.60 crore, while borrowings rose to ₹2,141.97 crore from ₹2,093.00 crore. Cash was ₹89.57 crore, against ₹63.99 crore.
Inventories increased to ₹207.13 crore from ₹184.68 crore, trade receivables rose to ₹244.21 crore from ₹197.00 crore, and trade payables increased to ₹420.15 crore from ₹287.07 crore. In H1 FY27, operating cash flow was ₹117.47 crore, compared with a cash outflow of ₹268.45 crore in H1 FY26.
Investing cash flow was an outflow of ₹18.82 crore in H1 FY27, compared with an outflow of ₹349.70 crore in H1 FY26. Financing cash flow was an outflow of ₹76.32 crore, against an inflow of ₹617.80 crore, while capital expenditure was ₹106.70 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 5,095 | 4,737 |
| Total equity | 1,523 | 1,564 |
| Borrowings | 2,142 | 2,093 |
| Cash and equivalents | 89.57 | 63.99 |
| Inventories | 207.13 | 184.68 |
| Trade receivables | 244.21 | 197 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 117.47 | −268.45 |
| Cash from investing | −18.82 | −349.70 |
| Cash from financing | −76.32 | 617.80 |
| Capital expenditure | 106.70 | 0 |
Source: Company's results filing (XBRL).
How has Thirumalai Chemicals done over the last 8 quarters?
Revenue reached its highest level in the latest quarter at ₹596.47 crore, compared with the lowest at ₹415.85 crore in Q3 FY26. Revenue has risen year on year in each of the last two quarters. In Q2 FY27, revenue increased from ₹546.67 crore in Q1 FY27.
The net loss improved from ₹43.67 crore in Q1 FY27 to ₹34.31 crore in Q2 FY27, but remained wider than the ₹14.06 crore loss recorded in Q4 FY25. The EBITDA margin reached 6.5% in Q2 FY27, the highest in the reported series, compared with the low of -5.9% in Q1 FY26.
How did Thirumalai Chemicals shares react?
The filing appeared in the market, with the price at ₹126.26 against the previous close of ₹125.40. It was down 0.2% after 5 minutes, 1.8% after 15 minutes and 3.3% after 30 minutes. The reaction-day close was down 2.5% from the pre-results close.
The Commodity Chemicals industry median move on the reaction day was 0.6%, so Thirumalai Chemicals underperformed the sector by 3.1 percentage points. Earlier reaction-day moves were -0.7% on 11 July 2026, -8.3% on 30 May 2026 and -4.2% on 14 February 2026.
| After the filing | Stock | Commodity Chemicals median |
|---|---|---|
| 5 minutes | −0.2% | |
| 15 minutes | −1.8% | |
| 30 minutes | −3.3% | |
| Reaction day | −2.5% | +0.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 11 July 2026 | −0.7% |
| 30 May 2026 | −8.3% |
| 14 February 2026 | −4.2% |
| 8 November 2025 | −3.0% |
| 14 August 2025 | −0.0% |
| 16 May 2025 | −3.5% |
| 28 January 2025 | −7.2% |
| 29 October 2024 | −0.2% |
Source: MarketPing price-reaction measurement.
How did other Commodity Chemicals companies do?
Twenty-five other Commodity Chemicals companies that had filed for the quarter were compared. Their median revenue growth was 21.7%, while 16 companies grew more slowly than Thirumalai Chemicals and 9 grew faster. Of the 29 peers whose profit was compared, 23 reported higher profit.
| Thirumalai Chemicals revenue growth (YoY) | +33.9% |
|---|---|
| Median of 25 other Commodity Chemicals companies | +21.7% |
| Companies with slower revenue growth than Thirumalai Chemicals | 16 of 25 |
| Companies with faster revenue growth than Thirumalai Chemicals | 9 of 25 |
| Companies whose net profit rose | 23 of 29 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Thirumalai Chemicals' revenue in Q2 FY27?
Revenue from operations was ₹596.47 crore, up 33.9% from ₹445.37 crore in Q2 FY26 (consolidated).
Did Thirumalai Chemicals make a profit in Q2 FY27?
No. It reported a net loss of ₹34.31 crore, against a net loss of ₹33.38 crore in Q2 FY26.
What was Thirumalai Chemicals' EPS in Q2 FY27?
Basic loss per share was ₹2.85, against a loss of ₹3.07 in Q2 FY26.
How did Thirumalai Chemicals shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.5% from the previous close; the median Commodity Chemicals stock moved +0.6%.
When did Thirumalai Chemicals announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval Of Un-Audited Financial Statements For The Quarter Ended September 30, 2026 (BSE, 1 November 2026) · PDF
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.