Thirumalai Chemicals Ltd Share Price

History of Thirumalai Chemicals Ltd

Incorporated in 1972, Thirumalai Chemicals Limited (TCL) was promoted by V S Sundararajan and N R Swamy, Promoter of Ultra Marine & Pigments. It manufactures and markets Phthalic Anhydride, Maleic Anhydride, Tartaric Acid and its salts, Fumaric Acid and Maleic Acid. The Company's principal activities are manufacturing and selling chemicals. The Company manufactures food acids, through which the commercial production commenced since 1992. It had a technical tie-up with Alusuisse Italia, Italy, for the recovery of maleic anhydride from effluent gases of the phthalic anhydride plant. In 1994, TCL expanded its activities by setting up additional plants at Ranipet, Tamilnadu, to manufacture pthalic anhydride, Fumaric Acid and Malic Acid. The Ranipet plant now has the installed capacity to ...produce 87000 MT of Phthalic Anhydride, 10750 MT of Maleic An hydride, 17000 MT of Food Acids. TCL's products are widely used in the manufacture of plasticisers, esters, polyester resins and alkyd paints and blue/green pigments. Fumaric acid is used in the manufacture of soft drink powders concentrates, fruit products, hard candy, digestive tablets, frozen foods and fresh sterilised concentrates. During 1995-96, TCL was accorded the status of an Export House. It exports to the Gulf countries, Pakistan, Bangladesh, East Asia and Australia. It has been awarded the ISO 9002 by the BVQI. In 2000-01, the company recieved ISO 14001 awarded by BVQI and this certificate is valid for 3 years. The company has a joint-venture company, TCL Industries (Malaysia) at Karnaman, Malaysia, to manufacture pthalic anhydride and fumaric acid. For some time the company is not performing well and the revival efforts have yielded some fruitful in 2000-01. Company also undertake a project to revamp and modernise its old PAN plants to manufacture value added chemicals involving outlay of about Rs.10 Crores. Company already expanded significant amount for this project, with the completion of this, company is confident that have large global capacities for all products in its range. Chemidye Manufacturing Pvt. Ltd (Chemidye), a Company which has been a consumer of Company's products and engaged in manufacture of Phthalate Esters with its Plant situated at Ranipet, Tamil Nadu, adjoining the Company's factory was amalgamated with the Company pursuant to the Scheme Of Amalgamation which was approved by the Hon'ble Bombay High Court, which made the amalgamation effective from 1.4.2005. During year 2007-08, Company set up two windmills at a cost of Rs. 830 Lakhs at Palani Taluka, Tamil Nadu, which commissioned on 27 December 2007. During the year 2011, the Company set up a subsidiary in Singapore, Tarderiv International Pte Ltd. and two step-down subsidiaries viz. Cheminvest Pte Ltd - Singapore and Optimistic Organic Sdn Bhd Malaysia. It acquired the Maleic Anhydride Plant in Malaysia through its subsidiary, Optimistic Organic Sdn Bhd in 2012. It established a Division in the name 'TCL Technology and Engineering' at Ranipet, Tamil Nadu, India, in March 2020. The Company commissioned a manufacturing plant in Dahej, Gujarat in June, 2021. After successful commissioning and operation of the Dahej Phthalic Anhydride Plant, the Company embarked on a large project in Dahej through a subsidiary, TCL Intermediates Pvt. Ltd. (TCL IPL), for manufacturing of Phthalic Anhydride, fine chemicals and derivatives in 2021-22. In 2023-24, two new plants- Phthalic Anhydride and Fine Chemicals and Food Ingredients were commissioned in India. The expansion of Company's Dahej facility has been commissioned and became fully operational in FY2025.