Thirumalai Chemicals Limited · NSE:TIRUMALCHM
Thirumalai Chemicals — Q3 FY26 Earnings Presentation
35 slides from Thirumalai Chemicals's earnings presentation, Mar 3, 2026
Slide 1: Cover letter to stock exchanges
Registered Office: “THIRUMALAI HOUSE”, Plot No. 101-102, Road No. 29, Sion (East), Mumbai – 400 022, India PHONE: +91 – 22– 43686200 FAX +91 – 22 – 24011699 E- MAIL: thirumalai@thirumalaichemicals.com Website: www.thirumalaichemicals.com (AN ISO 9001, 14001, 50001/ HACCP & FSSC 22000 CERTIFIED COMPA
Slide 2: Investor Presentation Q3 & 9M FY26
Thirumalai Chemicals Limited Investor Presentation Q3 & 9M FY26 1
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Thirumalai Chemicals Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 4: Company Overview
Company Overview
Slide 5: Leadership has evolved over five decades
Leadership has evolved over five decades 2025 Widened global 2024 footprint with an upcoming new plant in Launched a new the USA, set up under 2021 Phthalic Anhydride and our subsidiary Fumaric Acid company Unveiled a production facility at 2012 manufacturing facility Dahej under in Dahej, Gujarat,
Slide 6: TCL Group holding structure
TCL Group holding structure Thirumalai Chemicals Limited (TCL) 100% 100% 6% 94% TCL Intermediates Pvt. Ltd. (Greenfield project to Cheminvest Pte. Ltd., TCL Global BV, manufacture PAn and Singapore (CPL) The Netherlands (TCLGBV) Fumaric Acid in Dahej) 16% 84% 100% 100% Optimistic Organic Sdn. Lapiz
Slide 7: Diversified product portfolio
Diversified product portfolio Phthalic Anhydride (PAn) Malic Acid (MAc) Fumaric Acid (FAc) Diethyl Phthalate (DEP) Raw material o-Xylene Maleic Anhydride Maleic Anhydride Ethanol, Phthalic Anhydride used Manufacturing Ranipet, India Ranipet, India Ranipet, India Ranipet, India locations Dahej, India
Slide 8: Our manufacturing footprint
Our manufacturing footprint TCL is among the top 3 global manufacturers of PAn India operations Worldwide Reach We boast a significant presence across all major geographies Including the USA project, TCL will be one of the Dahej, Gujarat (TCL India) largest global manufacturers of MAc & FAc Capacity
Slide 9: Driving innovation & empowering progress
Driving innovation & empowering progress Innovation remains a key driver of growth, Emphasis is placed on enhancing core Continuous prioritization of R&D aligned with the evolving needs of diverse processes, improving operational efficiency efforts ensures improved product industries and developing
Slide 10: Key strengths reinforces our position
Key strengths reinforces our position Product quality and process control Global market reach with long-term partnership Manufacturer of essential chemicals for industries Strong domestic and export presence across key global like food and pharma, ensuring high purity and markets, with established r
Slide 11: Our quality commitments
Our quality commitments FSSC Certificate Kosher Certificate IMS Certificate Halal Certificate 2024-27 2025-26 2024-27 2025-28 QMS Certificate ISO 500001 Certificate BIS REACH 2024-27 2025-28 Certificate Compliance 10
Slide 12: Awards and recognitions
Awards and recognitions Confederation of Indian Indo American Chamber Industry 2025: of Commerce 2021: Industry trend setter for going global Business Excellence award Chennai Port 2023: Confederation of Indian Best Performance & Partnership Industry 2020: Award Excellence in EHS Practices The Natio
Slide 13: Senior Management and Board (1/2)
Senior Management and Board (1/2) Mr. R. Parthasarathy – Chairman & Managing Director Mrs. Ramya Bharathram - Managing Director & CFO • Chemical technocrat from IIT Mumbai & University of Wisconsin, • Heads strategy and Specialty Chemicals Businesses Madison USA • 16+ years of experience • 5 decades
Slide 14: Senior Management and Board (2/2)
Senior Management and Board (2/2) Mr. Rajeev Pandia Mr. Arun Alagappan Mrs. Bhama Krishnamurthy Mr. M Somasundaram Independent Director Independent Director* Independent Director Independent Director • 35+ years experience • Executive Vice-Chairman of Coromandel • 35+ years experience • 35+ years ex
Slide 15: Pathway Forward
Pathway Forward
Slide 16: Expansion in USA
Expansion in USA Building 40 KTPA MAn Capacity Location advantage Strategic rationale Products Malic Acid Fumaric Acid Maleic Anhydride Gas fields Abundant feedstock with assured long-term supplies competitively Ports priced (n-butane) Fully Integrated plant provides significant competitive advantag
Slide 17: Significant advantages of the USA project to the group
Significant advantages of the USA project to the group Market opportunity Strategic Location Cost arbitrage Competitive landscape Future growth o USA currently has only one o Feedstock accounts for 50- o Despite cost escalations o The USA producer is o The plant’s location within manufacturer of Mal
Slide 18: Commencement of USA Facility
Commencement of USA Facility Commencement of the first phase of commercial operations in December 2025 01 Commenced the first phase of commercial operations at the facility with the first sale of Maleic Anhydride (MAn) 02 Commissioning activities for rest of the facility in full swing Experienced a
Slide 19: USA project – current status
USA project – current status 18
Slide 20: Q3 FY26 Highlights
Q3 FY26 Highlights
Slide 21: Factors that impacted performance in Q3 FY26
Factors that impacted performance in Q3 FY26 Continued weakness in global markets due to tariff related uncertainties Global chemical demand remained weak, with utilization levels across major markets in 70–75% range Distributor inventory levels remained elevated at 1.5–2.0 months of coverage, delay
Slide 22: Key Highlights - Q3 FY26
Key Highlights - Q3 FY26 At TCL, Ranipet PHTHALIC ANHYDRIDE FOOD INGREDIENTS ENERGY a) Large reactor in Ranipet running without any a) Energy cost optimization along with process a) Changeover to Gas based energy continues to interruption for 400+ days along with the improvements have been implement
Slide 23: Q3 FY26 - Market Highlights
Q3 FY26 - Market Highlights PAn Food Ingredients Malic Acid Paints demand subdued due to prolonged monsoon & expected to stabilize in Q4 Due to increased tariff by USA, UPR demand was weak in October–November with Strategic pricing focus Strong contract wins in to retain key key producers operating
Slide 24: Financial Highlights
Financial Highlights
Slide 25: Q3 FY26 Financial Highlights
Q3 FY26 Financial Highlights Total Income ( INR Cr) EBITDA (INR Cr) PAT (INR Cr) 2% -3% -2% -9% 504 10 Standalone 307 -8 Q3 FY25 Q3 FY26 -8 -27 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 -4% -3% -9% -11% 447 420 Consolidated -11 -42 Q3 FY25 Q3 FY26 -20 -47 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 24
Slide 26: 9M FY26 Financial Highlights
9M FY26 Financial Highlights Total Income (INR Cr) EBITDA (INR Cr) PAT (INR Cr) 7% 1% 3% -5% 1,589 114 45 Standalone 1,128 10 9M FY25 9M FY26 9M FY25 9M FY26 -55 9M FY25 9M FY26 3% -2% -2% -11% 1,539 47 Consolidated 1,322 -32 9M FY25 9M FY26 -31 -140 9M FY25 9M FY26 9M FY25 9M FY26 25
Slide 27: Standalone P&L Statement
Standalone P&L Statement Particulars (INR Cr) Q3FY26 Q3FY25 Y-o-Y Q2FY26 Q-o-Q 9MFY26 9MFY25 Y-o-Y Revenue from Operations 300 498 357 1,103 1,574 Other Income 7 5 15 25 15 Total Income 307 504 -39% 372 -17% 1,128 1,589 -29% Cost of Materials Consumed 252 415 289 922 1263 Gross Profit 56 89 -37% 83
Slide 28: Consolidated P&L Statement
Consolidated P&L Statement Particulars (INR Cr) Q3FY26 Q3FY25 Y-o-Y Q2FY26 Q-o-Q 9MFY26 9MFY25 Y-o-Y Revenue from Operations 416 447 445 1,311 1,526 Other Income 4 0 8 10 13 Total Income 420 447 -6% 454 -7% 1,322 1,539 -14% Cost of Materials Consumed 338 362 341 1046 1193 Gross Profit 82 85 -4% 112
Slide 29: ESG
ESG
Slide 30: Our ESG Aspirations
Our ESG Aspirations Driving Sustainable Progress for a Better Tomorrow Environment Social Governance Health & Safety Carbon Footprint Zero Accidents at the Business 25% Reduction in GHG Workplace and Implement Ethics Emissions by 2030 * Practices for Responsible Zero Tolerance for Care initiatives H
Slide 31: Governance
Governance 10 30% 60% Board of Female Independent Directors Representation Directors Data Privacy Breaches in the Past Three years Cases of Corruption and Anti-Competitive Practices Conflict of Interest Complaints 30
Slide 32: People
People 500+ 8% 9,959 Overall, Gender Person-hours of Total Workforce Diversity training Delivered 2.8 crores 1.91 crores 4.7/5 Invested in CSR in FY 2024-25 Invested in R&D to drive Customer satisfaction score innovation and sustainable chemistry 0 0 0 LTIFR in FY 2024-25 Fatalities in FY 2024-25 PO
Slide 33: Planet
Planet 36% Of total energy sourced from renewable sources 16215.4 KL 100% 94% Of on-site energy consumption is met through internal waste heat recovery Rainwater harvested and reused Of process water treated and reused through ZLD 165728GJ Offromclean energy generated on-site waste heat 3% 28.36 % 3
Slide 34: Corporate Social Responsibility
Corporate Social Responsibility Transforming education across Fostering livelihoods and Expanding healthcare rural communities empowerment access x 25,000+ 2.8 crores CSR beneficiaries CSR expenditure 33
Slide 35: Thank You
COMPANY : Thirumalai Chemicals Ltd. CIN : L24100MH1972PLC016149 INVESTOR RELATIONS ADVISORS : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services Mr. Irfan Raeen Irfan.raeen@in.mpms.mufg.com Ms. Pooja Swami Pooja.swami@in.mpms.mufg.com Tha