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Thirumalai Chemicals > Company History > Chemicals > Company History of Thirumalai Chemicals - BSE: 500412, NSE: TIRUMALCHM

Thirumalai Chemicals

BSE: 500412|NSE: TIRUMALCHM|ISIN: INE338A01024|SECTOR: Chemicals
Nov 13, 15:58
0.25 (0.39%)
VOLUME 57,002
Nov 13, 15:53
0.4 (0.62%)
VOLUME 332,233
Company History - Thirumalai Chemicals
Thirumalai Chemicals Limited was incorporated in 1972 as a 
 public limited company. It was established for the 
 manufacturer of PAN with an initial installed capacity of 
 7500 mts per annum based on the technology supplied by 
 Ch.F.Von Heyden and Davy Power Gas, Germany. The plant 
 commenced commercial production in 1976.
 Between 1983-86, the company expanded its PAN capacity by 
 15000 mts per annum based technology supplied by PSA-LZV Von 
 Heyden and Davy McKee, Germany.
 During this time, the company installed a plant to recover 
 Maleic Anhydride from effluent gases based on technology 
 supplied by Alusuisee Italia Spa, Italy. The Company also 
 took up an energy revamp project of its old plant, using its 
 own technology and engineering expertise. The Company has 
 attempted to continuously modernize and retrofit its plants. 
 After debottle-necking, TCL has increased the PAN capacity 
 to 25000 tpa.
 The Company installed a plant to manufacture 10000 tpa of 
 maleic anhydride in 1990 based on the technology of 
 M/s. Alusuisse Spa, Italy. In a further expansion of
 activities, the Company installed a plant to manufacture
 2000 tpa of food acidulants based on an in-house R & D
 process in 1991.  In May 1994, the Company received
 ISO-9002 accreditation for their quality system.
 The Company is an experienced manufacturer of PAN, having 
 been in the business over a period of two decades. It has 
 also established skills in marketing and distributing of 
 PAN. The Company's emphasis on product quality has been 
 recognised internationally - a prime indicator of this being 
 its export growth from Rs.162 lacs in 1986 to Rs.2416.9 lacs 
 in 1993-94 showing a compounded rate of growth exceeding 
 The Company has shown consistent profitability. It has 
 declared dividends every year from 1979 onward, except for 
 1992-93; in 1992-93, the Company made losses due to a fall 
 in demand for PAN, though a recovery in 1993-94 enabled it 
 to post after-tax profits and declare a 20% dividend. No 
 merges, reorganisations or amalgamations have taken place in 
 the past.
 The Company is currently undertaking an expansion of its 
 food acidulants capacity by 3,200 tpa (primarily for 
 manufacture of malic acid). The total project cost as 
 appraised by ICICI is Rs. 12 crores. This project will be 
 financed through internal accruals of Rs.3 crores and a term 
 loan from ICICI of Rs.9 crores.
 - Thirumalai Chemicals Ltd has informed that Mr. A Janakiraman and
 Mr. P Shankar have been inducted as Additional Directors on the
 Company's Board, at its meeting held on October 29, 2007.
 - Ms. Rita Malgaonkar has been appointed as the Company Secretary of
 the Company.
 - Mr. R. Parthasarathy, Vice-Chairman and Managing Director has been
 selected and approved by the Board to act as the new CEO.
 - Mr. Dhanpat Raj Dhariwal has been selected and approved by the
 Board as the Chief Executive Officer (CEO) of the Company.
 - Dr. S. Rama Iyer, a Board Member has been appointed as the
 independent Non-executive Chairman of the Company.
 - Mr. N. Subramanian has been appointed as additional Director on the
 Board of the Company.
 -Mr. C. G. Sethuram has been appointed as Chief Executive Officer of
 the Company.
 -Board has recommended a final dividend of Rs. 2.50/- per equity
 shares of Rs. 10/- each.
 -Mrs. Ramya Bharathram has been appointed as a Whole-time Director of
 the company.
 -Mr. Dhruv Moondhra has been appointed as Director of the company.
Source : Dion Global Solutions Limited
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