Company Overview

Thirumalai Chemicals Limited (TCL) is an ISO 9001, 14001, 50001, HACCP & FSSC 22000 certified company with its registered office at "THIRUMALAI HOUSE", Plot No. 101-102, Road No. 29, Sion (East), Mumbai – 400 022. CIN: L24100MH1972PLC016149. The document is a corporate presentation for the quarter ended June 2026 (Q1 FY27), submitted to the National Stock Exchange of India Limited (Scrip code: TIRUMALCHM) and BSE Limited (Scrip code: 500412) on August 07, 2026, by Company Secretary Aditya Sharma.

Business and Operations

The company has a diversified product portfolio including Phthalic Anhydride (PAn), Malic Acid (MAc), Fumaric Acid (FAc), and Diethyl Phthalate (DEP), manufactured primarily at Ranipet, India and Dahej, India. It has a global presence with operations in Malaysia and a representative office in the EU, and is establishing a new facility in the USA.

Key strengths include product quality and process control, market leadership, integrated and efficient manufacturing, global market reach, efficiency-driven operations, and a strong sustainability focus with Zero Liquid Discharge (ZLD) systems.

USA Expansion Project

A major expansion involves building a 40,500 TPA Maleic Anhydride (MAn) plant and a 30,000+ TPA Food Ingredients plant (Malic Acid & Fumaric Acid) in the USA. The estimated project cost has been revised to approximately US$340 million (including working capital and ramp-up costs), up from previous estimates due to higher financing costs, contractor-driven construction cost increases, and extended timelines.

Current Status: Mechanical construction is completed, commissioning activities have commenced, and sequential testing of various units is underway. Customer engagement has been intensified with an encouraging market response. Commercial operations are now targeted for December 2026, following delays in contractors' construction schedules which also impacted financial closure.

Q1 FY27 Financial Performance

Consolidated Performance (INR Crore)

| Particulars | Q1FY27 | Q1FY26 | Y-o-Y | Q4FY26 | Q-o-Q |

| Revenue from Operations | 547 | 450 | 22% | 424 | 27% |

| Total Income | 550 | 452 | 22% | 433 | 27% |

| Gross Profit | 144 | 86 | 68% | 111 | 30% |

| Gross Profit Margin (%) | 26% | 19% | - | 26% | - |

| EBITDA | 36 | -25 | 246% | 14 | 148% |

| EBITDA Margin (%) | 7% | -5% | - | 3% | - |

| Profit / (Loss) Before Tax | -39 | -64 | NM | -38 | NM |

| Profit / (Loss) for the year (PAT) | -44 | -60 | NM | -28 | NM |

| PAT Margin (%) | -8% | -13% | - | -6% | - |

| EPS (INR) | -3.6 | -5.9 | - | -2.3 | - |

Key Notes: The consolidated loss was driven by a significant increase in finance costs to ₹52 crore (vs. ₹18 crore in Q1FY26), partly due to higher borrowings and funding costs, and the recognition of interest expense at TCLS LLC, USA.

Standalone Performance (INR Crore)

| Particulars | Q1FY27 | Q1FY26 | Y-o-Y | Q4FY26 | Q-o-Q |

| Revenue from Operations | 331 | 446 | - | 257 | - |

| Gross Profit | 118 | 71 | 66% | 63 | 88% |

| Gross Profit Margin (%) | 35% | 16% | - | 24% | - |

| EBITDA | 51 | 7 | 644% | 10 | 418% |

| EBITDA Margin (%) | 15% | 2% | - | 4% | - |

| Profit / (Loss) for the year (PAT) | 14 | -14 | 203% | -11 | 231% |

| PAT Margin (%) | 4% | -3% | - | -4% | - |

| EPS (INR) | 1.2 | -1.4 | - | -0.9 | - |

Operational Highlights for Q1 FY27

At TCL, Ranipet: The Phthalic Anhydride facility stabilized post re-catalyzation. Food Ingredients profitability enhanced through process optimization, delivering 100% first-pass quality and improved energy efficiency.

At TCLIPL, Dahej: The Phthalic Anhydride reactor achieved 95% capacity utilization, but production was impacted by a raw material shortage due to a lack of working capital. Fumaric Acid obtained ISO, KOSHER, Halal, and FSSAI certifications.

At OOSB, Malaysia: Focused operational optimization and cost-control measures resulted in positive EBITDA.

Market Environment & Outlook

  • India remained the sixth-largest global chemical producer; organic and inorganic chemical exports grew 12.7% YoY in May and 19.4% YoY in June 2026.
  • PAn business faced structural pressure from Chinese overcapacity, though the DGTR's sunset review in May 2026 recommended extending anti-dumping duties on Chinese and Korean imports for five years.
  • The rupee weakened to an all-time low near 96.8 per dollar in May before recovering to ~94.4 by end-June.
  • Aromatics and C4 feedstock costs were volatile, tracking crude oil prices which peaked in April (Brent >$110/bbl) before easing sharply.
  • The concluded India-EU FTA (Jan 2026) will provide zero-duty chemical access from 2027.
  • The market outlook remains positive, supported by healthy demand for all three USA project products (MAn, MAc, FAc) and expanding applications for MAn.

ESG Highlights

  • ESG Risk Rating improved from 28.4 (FY25) to 25.4 (FY26), ranking 127th out of 549 global chemicals companies.
  • People: 500+ total workforce; 11,714 person-hours of training delivered; ₹1.96 crores invested in CSR; LTIFR of 0; 0 fatalities; 0 POSH-related incidents.
  • Planet: 100% wastewater recycled and reused through ZLD; 85% of total energy sourced from renewables; 23% Scope 1 emissions reduced YoY; 14.13% Scope 2 emissions reduced from baseline; 22,265 t CO2e avoided; 98.4% of hazardous waste diverted from landfill.
  • Governance: Data noted 0 data privacy breaches, 0 cases of corruption, and 0 conflict of interest complaints in the past three years.

Investor Relations

MUFG Intime India Private Limited is listed as the Investor Relations advisor, with contacts Mr. Irfan Raeen and Ms. Pooja Swami.