Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Thirumalai Chemicals’(TCL’s) long term bank facilities worth Rs 205.54 crore and ‘A3’ rating to company’s Short term Bank Facilities worth Rs 376.00 crore. The ratings continue to derive strength from TCL’s experienced management, its long track record in the domestic PAN (Pthalic Anhydride) industry, healthy demand potential of its products and consistent improvement in its capital structure.
Thirumalai Chemicals is engaged in the manufacturing of industrial chemicals viz Phthalic Anhydride (PAN), Phthalate Esters (PE; diethyl phthalate and phthalimide) and food acids (maleic acid, fumaric acid and malic acid) which find applications in plastics, paints & resins industry and as additives for the food industry.
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