Announcement
Announcement Under Regulation 30 (LODR) - Updates - Show Cause Notice Received Under Section 73 Of The CGST Act, 2017 30 Sep - Received GST show cause notice for FY 2022-23; demand totals Rs. 13.52 lakh.
Source: Bse
Thirumalai Chemicals Limited (TIRUMALCHM)
Small CapIndustrials stocks · Small cap · NSE
Thirumalai Chemicals Limited operates in Fertilizers, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 12:16 pm ISTDetails
Quote21 Oct, 12:16 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result04 Aug, 11:53 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
31Bearishfull bear SMA stack · SMA20 -5.6% / mo · RSI oversold · MACD − · near 52W low
Stock trend: 22
Sector RS: 46
Sector 3M: -7.5% vs Nifty 500 -6.0%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TIRUMALCHMD candles · FIT view-34.7%TODAY · PROVISIONALLatest price ₹129.27 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-5.3%
RSI
25
MACD hist
-1.27
52W pos
1%
2026-10-21O ₹136.50H ₹136.50L ₹128.25C ₹129.27Vol 1.9L shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TIRUMALCHMNifty India ManufacturingNifty 500
- TIRUMALCHM
- -17.0%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -11.5 pp
Chart stats
19 Oct 2026- From 52W high
- -54.1%
- 52W range position
- 1%
- ATR (14)
- 4.5%
- Volume vs 20D
- 0.52x
- Avg traded value
- ₹6.3 Cr
- 20D price channel
- ₹133.4 - ₹171.4
₹293.8
₹133.4 - ₹293.8
₹6
Latest completed session
20-session average
37.9% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Verify management risk first
Do not let cheap valuation override weak Trust or governance evidence.
U-Score
Legacy · OVERVALUED13
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good55
Revenue +21.6% · PAT NDF YoY
Technical
Bearish31
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence42
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 55/100Rev +22% YoY · margin expansion · +29% QoQ
Filed 04 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹547 Cr | +21.6% | +29.0% |
| EBITDA | ₹33 Cr | +222.2% | +450.0% |
| Operating margin | 6.0% | +1200 bps | +460 bps |
| PAT | ₹-44 Cr | NDF | NDF |
| PAT margin | -8.0% | +529 bps | -144 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- 1.10
- EV/EBITDA
- 35.48
- Market Cap
- 1728.00Cr
Profitability
- ROE
- -11.80%
- ROCE
- -3.15%
- ROA
- -3.21%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 10.00%
- EPS 5Y
- -15.00%
- Revenue 3Y
- -7.00%
- EPS 3Y
- -12.00%
Balance Sheet
- Debt/Equity
- 1.39
- Interest Coverage
- 0.16×
- Altman Z
- 1.30
- Book Value
- 130.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 8/5
- OCF
- -131.00 Cr
- EPS TTM
- -12.61
Shareholding
- Promoter Hold
- 37.13%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 1%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 547+29.0% vs prev
Net Profit
₹ CrLatest: -44.0-57.1% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 25.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~7.1% over last month) — short-term momentum negative.
- RSI(14) at 25 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
7
RS percentile
Stage 4 Downtrend
1M return
-15.0%
3M return
-17.0%
6M return
-32.7%
1Y return
-51.5%
RS 1D
-1
RS 20D
-5
Sector rank
#2
Industry rank
#45
Stage evidence
- Price is 22.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.3%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 49.41-4.39%
RS vs Nifty 50049
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · OVERVALUEDValuation5/30
Growth3/25
Quality0/20
Balance Sheet1/15
Cash Flow3/10
Piotroski
1/9 (+0)
Penalties
1
Raw sum
13
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
13/100 · legacy band OVERVALUED
Positive drivers
- Cash flow contributes 3/10 to the score.
- Valuation contributes 5/30 to the score.
- Growth contributes 3/25 to the score.
Main drags
- Altman Z is 1.3, in distress territory.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Balance sheet is weaker at 1/15; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
—
PB
1.1
EV/EBITDA
35.5
ROE
-11.8%
ROCE
-3.1%
FCF Yield
—
Debt/Equity
1.4
MoS
—
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Debt/equity is 1.4, so downturn resilience matters.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
13
Previous: 13
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
13
13
13
13
13
13
13
13
13
13
13
13
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
3.0
Growth-justified Value
—
— MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
INDOBORAX
Small
Indo Borax & Chemicals Limited
Fertilizers & Agrochemicals
match 170
25
30.2
10.1%
-224%
OVERVALUED
SHREEPUSHK
Small
Shree Pushkar Chemicals & Fertilisers Limited
Fertilizers & Agrochemicals
match 168
47
22.2
12.1%
+42%
FAIR VALUE
MANALIPETC
Small
Manali Petrochemicals Limited
Fertilizers & Agrochemicals
match 168
46
12.6
4.4%
-300%
FAIR VALUE
PUNJABCHEM
Small
Punjab Chemicals & Crop Protection Limited
Fertilizers & Agrochemicals
match 167
39
19.0
16.6%
-32%
WATCHLIST
SIRCA
Small
Sirca Paints India Limited
Fertilizers & Agrochemicals
match 166
51
34.1
15.8%
+6%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Thirumalai Chemicals Limited operates in Fertilizers, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
42Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 1st percentile of the scored universe and 1st percentile within Industrials. Main check: balance sheet trust is weak at 21/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
11 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
1st percentile
overall median 67 · Industrials: 1st pctile, median 68 · Small: 2nd pctile, median 66
Evidence depth
Financial-only
11 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Do not rely on management narrative unless hard turnaround evidence is visible.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
21
weak · leverage and solvency
Discipline
22
weak · capital discipline
Results
29
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸8 years of positive FCF.
Trust risks
- ▸Operating cash flow is negative at ₹-131 Cr.
- ▸Altman Z is 1.34.
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸Debt/equity is 1.39.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Thirumalai Chemicals Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement Under Regulation 30 Of SEBI (LODR) - Outcome Of Fund Raising Committee Meeting 30 Aug - Approved sale of up to 14.6 lakh Ultramarine & Pigments shares within 7 working days.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Jul - Please find attached Newspaper Publication of AGM Notice
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 10 Jun - ICRA reaffirmed Thirumalai Chemicals' ratings: BBB+ Negative and A2 on ₹1,217.55 crore facilities.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Jun
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.