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History of Thirumalai Chemicals Ltd.

Thirumalai Chemicals Limited was incorporated in 1972 as a public limited company. It was established for manufacturer of PAN with an initial installed capacity of 7500 mts per annum based on the technology supplied by Ch.F.Von Heyden & Davy Power Gas, Germany. The plant commenced commercial production in 1976.

Between 1983-86, the Comp. expanded its PAN capacity by 15000 mts per annum based technology supplied by PSA-LZV Von Heyden & Davy McKee, Germany.

During this time, the Comp. installed a plant to recover Maleic Anhydride from effluent gases based on technology supplied by Alusuisee Italia Spa, Italy. The Comp. also took up an energy revamp project of its old plant, using its own technology & engineering expertise. The Comp. has attempted to continuously modernize & retrofit its plants. After debottle-necking, TCL has increased the PAN capacity to 25000 tpa.

The Comp. 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 Comp. installed a plant to manufacture 2000 tpa of food acidulants based on an in-house R and D process in 1991. In May 1994, the Comp. received ISO-9002 accreditation for their quality system.

The Comp. is an experienced manufacturer of PAN, having been in the business over a period of two decades. It has also established skills in marketing & distributing of PAN. The Company 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 40%.

The Comp. has shown consistent profitability. It has declared dividends every year from 1979 onward, except for 1992-93; in 1992-93, the Comp. made losses due to a fall in demand for PAN, though a recovery in 1993-94 enabled it to post after-tax profits & declare a 20% dividend. No merges, reorganisations or amalgamations have taken place in the past.

The Comp. is currently undertaking an expansion of its food acidulants capacity by 3,200 tpa [primarily for manufacture of malic acids]. The total project cost as appraised by ICICI is Rs. 12 crores. This project will be financed through internal accruals of Rs.3 crores & a term loan from ICICI of Rs.9 crores.

2007

- Thirumalai Chemicals Ltd has informed that Mr. A Janakiraman & Mr. P Shankar have been inducted as Additional Directors on the Company Board, at its meeting held on October 29, 2007.