Thirumalai Chemicals Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,438 Cr
- ROE
- -11.80%
- Price to sales
- 0.79
- Debt to equity
- 1.39
- 52W high / low
- ₹284 / ₹114
- Sales growth (5Y)
- 9.84%
- EBITDA margin
- 1.09%
- Net profit margin
- -9.24%
- Promoter holding
- 37.13%
- Sales (last year)
- ₹1,832 Cr
Thirumalai Chemicals Ltd is a part of the Thirumalai Group, which has business interests in chemicals, surfactants, pigments and education. The Company’s principal activities are manufacturing and selling chemicals such as PAN, DEP etc. [1][2]
Potential multibaggers · Q2 FY27
Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Peers
Chemicals & Petrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹234 Cr | 3.0 | |
| 2 | 40%+ | Flat | ₹3,888 Cr | 48.5 | |
| 3 | 40%+ | Flat | ₹3,514 Cr | 4.3 | |
| 4 | 40%+ | Flat | ₹180 Cr | 11.9 | |
| 5 | 40%+ | Flat | ₹138 Cr | 15.1 | |
| 6 | 20–40% | Up 2%+ | ₹1.70L Cr | 85.4 |
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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingFinancials of Thirumalai Chemicals
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Thirumalai Chemicals
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 508 | 431 | 523 | 542 | 492 | 527 | 555 | 525 | 447 | 523 | 450 | 445 | 416 |
| Expenses + | 479 | 432 | 485 | 527 | 498 | 523 | 524 | 502 | 467 | 508 | 477 | 449 | 431 |
| Operating Profit | 29 | -1 | 38 | 15 | -6 | 4 | 31 | 24 | -20 | 15 | -27 | -4 | -15 |
| OPM % | 6% | -0% | 7% | 3% | -1% | 1% | 6% | 4% | -5% | 3% | -6% | -1% | -4% |
| Other Income + | 11 | 11 | 5 | 6 | 4 | 4 | 3 | 9 | 0 | 8 | 2 | 8 | 4 |
| Interest | 11 | 7 | 10 | 10 | 12 | 10 | 9 | 10 | 14 | 15 | 18 | 26 | 21 |
| Depreciation | 14 | 16 | 16 | 16 | 15 | 17 | 14 | 13 | 16 | 18 | 22 | 23 | 23 |
| Profit before tax | 14 | -13 | 17 | -4 | -29 | -19 | 11 | 9 | -50 | -11 | -64 | -44 | -55 |
| Tax % | 41% | 0% | 37% | 47% | -20% | 10% | 53% | 47% | -16% | 28% | -7% | -24% | -16% |
| Net Profit + | 8 | -13 | 11 | -6 | -23 | -20 | 5 | 5 | -42 | -14 | -60 | -33 | -47 |
| EPS in Rs | 0.81 | -1.25 | 1.04 | -0.59 | -2.24 | -2.00 | 0.50 | 0.48 | -4.10 | -1.37 | -5.86 | -2.81 | -3.86 |
Financials of Thirumalai Chemicals
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,275 | 1,070 | 940 | 1,028 | 1,312 | 1,261 | 1,085 | 1,086 | 1,998 | 2,132 | 2,083 | 2,050 | 1,834 |
| Expenses + | 1,192 | 1,032 | 842 | 871 | 1,022 | 1,055 | 1,007 | 865 | 1,557 | 1,946 | 2,032 | 2,001 | 1,865 |
| Operating Profit | 83 | 38 | 98 | 158 | 290 | 206 | 78 | 221 | 441 | 186 | 51 | 49 | -31 |
| OPM % | 7% | 4% | 10% | 15% | 22% | 16% | 7% | 20% | 22% | 9% | 2% | 2% | -2% |
| Other Income + | 3 | 8 | 5 | 4 | 7 | 12 | 21 | 7 | 12 | 30 | 19 | 21 | 22 |
| Interest | 49 | 35 | 23 | 17 | 13 | 12 | 17 | 21 | 20 | 31 | 42 | 49 | 81 |
| Depreciation | 23 | 18 | 25 | 36 | 31 | 36 | 44 | 50 | 57 | 56 | 63 | 61 | 85 |
| Profit before tax | 15 | -7 | 55 | 109 | 253 | 169 | 38 | 157 | 375 | 129 | -35 | -41 | -174 |
| Tax % | 20% | 102% | 41% | 35% | 33% | 33% | 39% | 25% | 25% | 31% | 12% | 13% | |
| Net Profit + | 12 | -14 | 32 | 71 | 170 | 114 | 23 | 118 | 281 | 90 | -39 | -46 | -154 |
| EPS in Rs | 1.16 | -1.34 | 3.14 | 6.90 | 16.64 | 11.09 | 2.26 | 11.49 | 27.47 | 8.77 | -3.79 | -4.50 | -13.90 |
| Dividend Payout % | 0% | -30% | 51% | 27% | 12% | 18% | 0% | 19% | 9% | 17% | -26% | 0% |
Financials of Thirumalai Chemicals
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 12 |
| Reserves | 205 | 183 | 208 | 388 | 563 | 658 | 628 | 793 | 1,075 | 1,182 | 1,136 | 1,145 | 1,521 |
| Borrowings + | 222 | 142 | 91 | 62 | 50 | 103 | 197 | 183 | 165 | 514 | 1,252 | 1,786 | 2,086 |
| Other Liabilities + | 321 | 212 | 211 | 327 | 202 | 370 | 365 | 358 | 612 | 654 | 922 | 867 | 727 |
| Total Liabilities | 757 | 547 | 520 | 786 | 825 | 1,141 | 1,200 | 1,343 | 1,862 | 2,360 | 3,320 | 3,808 | 4,345 |
| Fixed Assets + | 230 | 243 | 256 | 317 | 310 | 383 | 550 | 513 | 596 | 671 | 712 | 1,251 | 1,281 |
| CWIP | 18 | 7 | 18 | 9 | 44 | 159 | 82 | 126 | 64 | 406 | 1,200 | 1,352 | 1,740 |
| Investments | 5 | 5 | 5 | 77 | 104 | 150 | 49 | 136 | 180 | 132 | 173 | 200 | 210 |
| Other Assets + | 503 | 291 | 241 | 383 | 367 | 449 | 519 | 569 | 1,022 | 1,150 | 1,236 | 1,005 | 1,114 |
| Total Assets | 757 | 547 | 520 | 786 | 825 | 1,141 | 1,200 | 1,343 | 1,862 | 2,360 | 3,320 | 3,808 | 4,345 |
Financials of Thirumalai Chemicals
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 133 | 154 | 126 | 108 | 81 | 234 | 140 | 221 | 402 | 54 | 237 | -66 |
| Cash from Investing Activity + | -15 | -19 | -32 | -44 | -54 | -221 | -36 | -159 | -134 | -335 | -824 | -531 |
| Cash from Financing Activity + | -116 | -142 | -93 | -52 | -16 | 16 | 46 | -38 | -70 | 206 | 643 | 375 |
| Net Cash Flow | 3 | -8 | 0 | 12 | 10 | 29 | 150 | 24 | 198 | -75 | 56 | -223 |
| Free Cash Flow | 110 | 132 | 98 | 85 | 22 | 41 | 38 | 160 | 329 | -308 | -574 | -676 |
| CFO/OP | 162% | 422% | 147% | 91% | 57% | 137% | 190% | 118% | 108% | 66% | 480% | -90% |
Financials of Thirumalai Chemicals
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 66 | 52 | 50 | 49 | 33 | 33 | 30 | 29 | 29 | 17 | 32 | 35 |
| Inventory Days | 74 | 42 | 38 | 82 | 59 | 84 | 69 | 74 | 74 | 76 | 55 | 57 |
| Days Payable | 59 | 38 | 92 | 139 | 53 | 119 | 123 | 129 | 141 | 118 | 113 | 103 |
| Cash Conversion Cycle | 82 | 56 | -3 | -8 | 39 | -2 | -24 | -26 | -39 | -25 | -26 | -11 |
| Working Capital Days | 3 | -8 | -15 | -5 | 37 | 4 | -5 | -19 | -23 | -61 | -93 | -57 |
| ROCE % | 14% | 7% | 24% | 33% | 49% | 26% | 7% | 20% | 35% | 11% | 0% | 0% |
Momentum score · price trend
1 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −58.2% | 2% |
| Last 6 months | −44.6% | 1% |
| Last 3 months | −35.4% | 2% |
The price is 69.3% below its all-time high of ₹385.65 (6 Dec 2024). Stocks more than 20% below their peak have their score halved, so 2 became 1.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Thirumalai Chemicals: 0.4 × 2 + 0.4 × 1 + 0.2 × 2 = 2, halved to 1 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
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