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Thirumalai Chemicals Ltd. Company History and Annual Growth Details

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.