Stock Report

Thirumalai Chemicals Ltd approves investment in expansion projects at Dahej



Posted On : 2021-11-07 11:41:45( TIMEZONE : IST )

The Board of Thirumalai Chemicals Ltd ( TCL ), at its meeting on the 2nd November 2021, has approved the investment in a project to manufacture Phthalic Anhydride and Fine-chemicals at its site in Dahej in Gujarat, India. This is aimed at the large markets in Western India and for regional exports.

The investment will be funded by the company's internal accruals and by borrowings.

The project includes a 90,000 ton per year Phthalic Anhydride unit. It is scheduled for commissioning in H2 FY 23-24. The Project will use TCL's in-house Technology.

TCL already operates a Phthalic Anhydride plant at this site, commissioned about 6 months ago. Phthalic Anhydride is used widely - to make Colorants, Resins for construction, infrastructure & housing, Additives for polymers, Inks, Paints , etc.

TCL makes about 160,000 tons of Phthalic Anhydride, Food Ingredients and Fine Chemicals at its existing facilities in Ranipet and Dahej.

TCL also manufactures about 50,000 metric tons of Maleic Anhydride & derivatives from Butane, at its wholly-owned subsidiary in Malaysia since 1996.

TCL is currently building an integrated Butane to Maleic Anhydride & Food Ingredients (Malic, Fumaric acids & other derivatives) production facility, through a 100% owned step-down subsidiary in the United States.

This facility is expected to be started-up in H2 FY23-24.

Shares of Thirumalai Chemicals Limited was last trading in BSE at Rs. 249.20 as compared to the previous close of Rs. 248.40. The total number of shares traded during the day was 30934 in over 836 trades.

The stock hit an intraday high of Rs. 253.70 and intraday low of 245.90. The net turnover during the day was Rs. 7734740.00.

Source : Equity Bulls

Keywords

ThirumalaiChemicalsLimited INE338A01024 TIRUMALCHM PhthalicAnhydride FineChemicals Dahej ExpansionProject