Thirumalai Chemicals has decided to establish manufacturing facilities for production of Phthalic Anhydride with capacity of about 60,000 MT Per Annum and other products at its site at Dahej in Gujarat, to be implemented in phases. The first phase of project is likely to be completed during the Financial Year 2018-2019. The investment will be funded from internal accruals.

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Thirumalai Chemicals announced that P. Shankar, Independent Director (DIN: 01638317) and A. Janakiraman, Independent Director (DIN: 01831854) have resigned on 31 July 2017 from their position in the company.

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The result was announced on Saturday, 22 July 2017.

Meanwhile, the S&P BSE Sensex was up 185.80 points or 0.58% at 32,214.69. The S&P BSE Small-Cap index was up 47.22 points or 0.3% at 16,039.85.

On the BSE, 1.27 lakh shares were traded on the counter so far as against the average daily volumes of 15,356 shares in the past one quarter. The stock hit a high of Rs 1,225 in intraday trade so far, which is a record high for the counter. The stock had hit a 52-week low of Rs 328.05 on 29 July 2016.

The stock had outperformed the market over the past one month till 21 July 2017, surging 25.4% compared with 2.38% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 21.07% as against Sensex's 9.07% rise. The scrip also outperformed the market in past one year, surging 206.96% as against Sensex's 15.58% rise.

The small-cap company has equity capital of Rs 10.24 crore. Face value per share is Rs 10.

Thirumalai Chemicals' board at its meeting held on 22 July 2017 discussed the strategic growth options available with the company and authorized the Chairman & Managing director to evaluate and take appropriate steps to implement the growth plans as considered necessary.

Thirumalai Chemicals is engaged in the manufacture of chemical products and its intermediaries. It is also engaged in wind power generation.

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Net profit of Thirumalai Chemicals rose 85.04% to Rs 29.81 crore in the quarter ended June 2017 as against Rs 16.11 crore during the previous quarter ended June 2016. Sales rose 54.10% to Rs 258.89 crore in the quarter ended June 2017 as against Rs 168.00 crore during the previous quarter ended June 2016.

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